Sensex snaps 3-day losing run, rises 230 pts to reclaim 27,000

Mumbai: Ending three-day losing streak, the benchmark BSE Sensex today rebounded by 230.48 points to recapture the 27,000-level on the back of value buying in blue-chips led by auto, PSU and metal amid firm global trend. Market mood turned positive in line with a strong rally in Asian and European shares after a weak US data reinforced expectations of a delay in rate hike by the Federal Reserve.

Domestic auto stocks were in the limelight on hopes of a surge in sales during the festive season. The 30-share BSE barometer index stayed in the positive terrain throughout the session and after recapturing the 27,000-level touched a high of 27,037.95. It finally settled 230.48 points or 0.86 per cent higher at 27,010.14. The gauge had lost around 300 points in the previous three sessions on disappointing set of second quarter numbers. The 50-share NSE Nifty also recovered by 71.60 points or 0.88 per cent to close at 8,179.50.

Tata Motors was the top Sensex gainer after surging 8.06 per cent to close at a two-month high of Rs 380.70 as its Jaguar Land Rover unit reported a 3 per cent jump in September sales. Maruti Suzuki too surged 3.01 per cent while Hero MotoCorp gained 2.37 per cent in anticipation of a rise in their sales during the festive season.

Other gainers included BHEL 3.02 per cent, Tata Steel 2.94 per cent, GAIL 2.16 per cent, Coal India 2.14 per cent, ONGC 2.04 per cent, SBI 1.92 per cent and Lupin 1.84 per cent. However, shares of M&M, Wipro, Hindalco, Hind Unilever, Cipla, NTPC, TCS and Infosys ended up to 0.86 per cent lower. Sectorally, the BSE auto index gained the most by rising 2.33 per cent, followed by PSU 1.54 per cent, oil&gas 1.51 per cent, metal 1.40 per cent, capital goods 1.22 per cent and power 1.18 per cent. Broader markets too performed better with the BSE mid-cap index rising 0.79 per cent and small-cap gaining 0.48 per cent.

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Free Press Journal