Sensex closes 294 points higher, Nifty above 10,500; Realty, power led recovery
13/02/2018
MUMBAI: Indian equities staged a strong comeback on Monday, with the BSE Sensex closing with gains of nearly 300 points, and the NSE Nifty recapturing the 10,500- mark on continued buying by domestic funds ahead of inflation data to be released after market hours on Monday.
At close,the BSE Sensex was at 34,300.47, 294.71 points or 0.87% higher, while the broader NSE Nifty 50 held its gains to close at 10,539.75, higher 0.81% or 84.80 points.
Sectorally, gains were led by BSE power (1.87%) realty (1.73%), capital goods (1.65%), and utlities (1.64%)
Among individual stocks, major gainers at close were Tata Steel, Yes Bank, PowerGrid, HDFC, and IndusInd bank, with Tata Steel gaining as much as 4.42%.
Larsen and Toubro closed 1.63% higher after it announced a Rs 2,200 crore order win by its wholly-owned arm L&T Hydrocarbon Engineering from Abu Dhabi-based Al Dhafra Petroleum Operations Company Limited.
SBI, however, dropped 2.33% following poor quarterly results. The PSU lender on Friday posted a net loss of Rs 1,886.57 crore after a massive under-reporting of dud assets in the past fiscal and reverses in treasury operations.
Brokers said sustained buying by domestic institutional investors amid a firm trend at other Asian bourses improved the market sentiment.
Domestic institutional investors bought shares worth a net Rs 588.42 crore while foreign portfolio investors sold shares worth a net Rs 1351.70 crore on Friday, provisional data showed.
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