MUMBAI: Domestic equity markets rose for a sixth consecutive trading session on Wednesday following positive global markets and strong rupee. The BSE Sensex jumped 102.97 points or 0.38 percent to 27,035.85 and NSE Nifty gained 24.50 points or 0.30 percent to 8,177.40.
In the 30-share index, Hindalco surged the most 9.64 percent to Rs 81.90, followed by Vedanta (up 5.83 percent), ONGC (up 5.04 percent) and Tata Steel (up 4.25 percent). On the other hand, Wipro, Axis Bank and Infosys declined 2.13 percent, 1.92 percent and 1.88 percent, respectively.
Except the BSE Information Technology index (down 1.63 percent) and the BSE TECk index (down 1.38 percent), rest all sectoral indices closed in green. The BSE Metal index, the BSE Realty and BSE Auto index jumped 2.76 percent, 1.90 percent and 1.37 percent to 7342.28, 1425.32 and 18029.77, respectively.
In the BSE Smallcap space, Sharp India, Deep Industries, HCL Infosystems and Gujarat NRE Coke jumped 19.97 percent, 19.33 percent, 19.33 percent and 19.91 percent to Rs 46.25, Rs 188.90, Rs 51.75 and Rs 2.77, respectively. The BSE Smallcap index closed 0.40 percent up at 11,344.
Overall market breadth remained positive as advances to declines ratio for Nifty stocks stood at 29:21 for the day.
Gaurav Jain, director, Hem Securities, said, “A later hour of buying pulled indices higher. Indices continue their northward journey on the back of firm global cues, sharp recovery seen in crude oil prices, strengthening of rupee and continued buying interest by domestic as well as foreign portfolio investors.”
On the global front, while the U.S. markets made a mixed closing, the Asian markets closed in green led by the Hong Kong market which jumped over 3 percent for the day, building on their biggest five-day advance in almost four years. The Japanese market that was once looking faltering, too ended in green despite the yen rising broadly after the Bank of Japan kept monetary policy unchanged. Nikkei closed 0.75 percent up at 18,323.
The European markets too made a positive start after Glencore shares rose for a fourth day in London and ahead of UK’s Industrial and manufacturing production figures. The indices in the region overlooked the IMF’s cut in its global growth forecast for 2015 and 2016.
