Indian equities rallied for the third straight session as the key benchmark indices lapped up the positive overseas trend, buoyed by strong US payroll data, amid a strengthening rupee. While the 30-share Sensex surged 205.49 points, or 0.62%, to close at 33455.79 – its highest closing since November 29 when it had closed at 33602.76. Nifty, on the other hand went up 56.60 points, or 0.55%, ending at 10322.25.
Mahindra and Mahindra emerged as the top gainer rising 2.16%, followed by Lupin (2.15%) and Maruti Suzuki ended up 1.11%. Unitech surged 10.56%. Additionally, HDFC, Wipro, Coal India, State Bank of India, ITC, Bharti Airtel, Sun Pharma and Dr Reddy’s, were among other gainers.
Both mid-cap and small-cap indices recorded gains up to 0.36%. . The IT index climbed 1%. Technology, healthcare and auto too whetted investor interest.
Domestic institutional investors (DIIs) were the major movers as they picked up shares worth Rs 1,243 crore while foreign funds continued with their selling momentum, offloading equities net Rs 675.16 crore on Friday, according to data.
Positive leads from other Asian markets tracking record at Wall Street following forecast-beating US jobs data came as the trigger. Investors eyed US Federal Reserve’s policy meeting later this week, too.
Source: DNA INDIA