Equity benchmarks indices staged spectacular performance on Thursday with the Sensex rising nearly 500 points Intraday on short covering after yesterday’s unexpected RBI action. Withdrawal of incremental CRR hike by the central bank, bargain hunting, weakness in dollar positive global cues ahead of the European Central Bank meeting due later today and renewed FIIs buying interest also boosted the market sentiment.
The Indian stock market ended at almost one-month closing high. The 30-share BSE Sensex shot up 457 points or 1.74 percent to 26694.28 and the Nifty climbed 144.80 points or 1.79 percent to 8246.85, outperforming broader markets.
The Indian Rupee closed higher by 0.28 paise at 67.35 per Dollar. The Rupee was trading at its highest level since November 11, 2016 and this was the third consecutive day of rise for the domestic currency. The Rupee gained over 1% in 3 sessions. Further, Rupee is trading up over 2% post touching the record low of 68.86 on November 24, 2016.
The BSE Midcap and Smallcap indices gained 1.5 percent and 1.3 percent, respectively. However, the gap between advances and declines narrowed as the day progressed.
Asian market Updates: On the global market, most Asian indices closed in green except Strait Times and Shanghai Composite that ended in red and marginally down.
Top Gainers are Tata Steel, Tata Motors (D), Tata Motors, Adani Ports, Bosch
Top Losers are Bharti Infratel, Eicher Motors, Aurobindo Pharm, NTPC.