Today seems like a good day for the share market, as Sensex rallied over 211 points. The positive mood seems to be from the buying activity which picked up momentum on positive economic data after industrial production grew to a 9-month high of 4.3 per cent in August.
Driven by strong IIP numbers and an unchanged inflation, the Sensex on Friday rallied over 211 points to 32,393, reflecting interrupted buying by domestic institutional investors.
The rupee appreciated 19 paise to 64.89 against the dollar today gave a leg to the rally.
The 30-share barometer pushed higher by 211.04 points, or 0.66 per cent, to 32,393.26. The gauge had leapt 348 points in the previous session.
Sectoral indices turned green across the board, with metal, realty and FMCG posting sizeable gains of up to 1.90 per cent.
The NSE index Nifty was trading up by 43.25 points, or 0.42 per cent, at 10,139.65.
Stocks of Bharti Airtel zoomed 6.94 per cent to ? 427.80 after the company announced that the consumer mobile business of (CMB) of Tata Teleservices Ltd and Tata Teleservices Maharashtra will merge with it in a cash-free, debt-free deal.
Stock of TCS, India’s largest software services, rose 1.08 per cent to ? 2,576.15 even as the company’s net profit fell 2.1 per cent in the September quarter.
Reliance Industries shot up by 1.15 per cent to ? 882.50 as participants raised their bets ahead of earnings, to be released later in the day.
Japan’s Nikkei rose 0.23 per cent while Shanghai Composite rose up 0.09 per cent in their early deals. Hong Kong’s Hang Seng, however, was down 0.16 per cent.
The US Dow Jones Industrial Average had closed 0.14 per cent lower on Thursday.
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