Mumbai: Driven by strong global buoyancy, Indian equities extended their spectacular bull-run for the fourth straight session as funds and investors combined for across the board buying leading the benchmark Sensex to post a 270-point upsurge, the biggest gain in 2013 so far, to end at one-month high of 19,683.23.
US stocks hit a record high for a third consecutive day on Thursday after weekly jobless claims came in at much better than expected pace and better-than-expected Chinese exports and ongoing central bank monetary support worldwide helped boost Asian and European stock markets.
With budget behind us investors are full of optimism and are hoping for a rate cut by the Reserve Bank in its monetary policy meet on March 19, traders said.
On a weekly basis, it has gained 764.71 points or 4.04 per cent, biggest after November 2012’s last week when it had spurted by 833.33 points or 4.50 per cent.
The 50-share index flared up to hit an intra-day peak of 5,952.85 before concluding at 5,945.70, showing a sharp rise of 82.40 points.
Steep rise in counters like HDFC, ITC, HDFC Bank, RIL, ICICI Bank and L&T together contributed over 200 points to the Sensex’s gains. SBI, ONGC, Jindal Steel, M&M, Tata Steel, HUL, GAIL and Coal India also closed with smart gains.
Continuing its upward march for the third straight day, the rupee also jumped by 28 paise to settle at over one-week high of 54.28 on robust capital inflows and sustained dollar selling by exporters and banks.
The Bombay Stock Exchange 30-share indicator resumed higher and remained in positive terrain throughout the day before ending sharply higher by 269.69 points or 1.39 per cent at 19,683.23. The gains were largest in absolute term since November 11, 2012 when it had spurted by 328.83 points.
