The S&P BSE
Sensex surged by nearly 174 points, while the broader CNX Nifty reclaimed
the 8,600-mark after over six weeks in late morning trade on Tuesday
on across-the-board buying by participants amid positive Asian cues.
Firm buying was witnessed in metal, realty, banking, power,
oil & gas and IT sector stocks apart from MidCap and SmallCap shares.
Investor sentiments remained upbeat with the Apex bank's surprise rate cut last
week coupled with encouraging Q3 earnings amid persistent FII inflows. The
Sensex resumed higher at 28,324.85 and rallied to a high of 28,435.92, a rise
of 173.91 points, or 0.61%, from its previous close.
The CNX 50-share Nifty also gained by 53.40 points,
or 0.62%, to reclaim 8,600-mark. Major gainers were Hindalco (2.64 pct), Tata
Steel (2.42 pct), Axis Bank
(2.00 pct), SSLT (1.89 pct), SBIN (1.71 pct), HDFC (1.22 pct) and ITC
(0.99 pct). Asian markets were trading higher after China said
that its economy
had not slowed down as much as widely perceived.
Key benchmark indices in China, Hong Kong,
Japan, Singapore, South Korea and Taiwan were up by 0.61 pct to
1.81 pct, while Indonesia's Jakarta Composite was trading down
at 0.52 pct.
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