Samvat  2070: Sensex surges 26%;  biggest gain in five yrs

Mumbai : Samvat year 2070 ended with a bang as Sensex  soared 212 points on Wednesday to finish at one-month high and Nifty jumped 68 points to close just shy of 8,000 mark on optimism festive sales will boost earnings and hopes that Modi government will unleash more economic reforms.

The Hindu Samvat year 2070 saw Sensex flaring up by 5,547.87 points or 26.12 %, its biggest gain in last five Samvat years. In Samvat year 2065, it had gained 8,813.26 points or 103.57 %. Investors in BSE listed stocks gained nearly Rs 25 lakh crore in Samvat year 2070.

Auto, capital goods and pharma counters took the lead in the surge. Maruti Suzuki India, Bajaj Auto, Tata Motors,

and Hero MotoCorp ended up 3-4%. Traders were optimistic that sales were strong on the eve of Dhanteras and Diwali. “The optimism on the street was mainly due to sustained recovery in the global markets and positive momentum from the reform measures announced by the government recently,” said Jayant Manglik, President-retail distribution, Religare Securities.

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