Published: Thu, April 26, 2018
Research | By Raquel Erickson

Sensex zooms 212 pts, Nifty tops 10600; bank stocks rise

Sensex zooms 212 pts, Nifty tops 10600; bank stocks rise

All other sectors faced losses with Nifty Metal and Nifty PSU Bank losing 1.50 per cent each. The stock rallied after 1:53 pm and closed 8.26% higher at 352 level. The BSE Mid-Cap and Small-Cap indices fell 0.52 per cent and 0.72 per cent, respectively, underperforming the Sensex.

Analysts say part of the gains in the market were also led by short covering due to the expiry of derivative contracts of the April series. In the day's trade, the barometer 30-scrip sensitive index had touched a high of 34,631.27 points and a low of 34,400.56 points. Markets mostly hovered in the positive zone and closed the day with modest gains.

Meanwhile, domestic institutional investors (DIIs) bought shares worth Rs 435.98 crore, while foreign portfolio investors sold to the tune of of Rs 304.79 crore yesterday, provisional data showed.

On Thursday, Asian indices were showing a mixed trend.

European shares were uneven in early trading.

Australian stocks edged up 0.2 percent and Japan's Nikkei rose 0.7 percent. Wall Street was poised to open lower.

The Dow rose 0.25 percent overnight, ending a five-day losing streak, and the S&P 500 gained 0.18 percent on optimism over a spate of upbeat earnings that managed to offset jitters over rising US bond yields.

South Korea's KOSPI climbed 1.2 percent, with tech shares buoyed after Samsung Electronics posted a record quarterly profit. China's Shanghai Composite index was trading in red, down by 0.83 per cent.

Future Retail dropped 0.6 percent after the NCLT's Mumbai bench approved a scheme of arrangement with Hypercity.

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