Sensex reclaims summit 33k
Stocks found firm ground for second straight session on Wednesday, with the BSE Sensex reclaiming the 33,000mark, ahead of US Federal Reserve’s policy meet.
Persistent capital inflows by foreign funds and coveringup of short positions by speculators influenced trading sentiment, brokers said.
The BSE Sensex spurted 139 points to close at 33,136.18, while the broader NSE Nifty rose 30 points to 10,155.25.
Telecom stocks were the session’s biggest gainers, with Bharti Airtel emerging on top in the Sensex pack.
After a strong opening, the Sensex hit a high of 33,354.93, before closing at 33,136.18, up 139.42 points, or 0.42 per cent. The 50-share Nifty scaled a high of 10,227.30 intra-day but succumbed to profit-booking to finish at 10,155.25, still up 30.90 points, or 0.31 per cent.
Both foreign institutional investors and their domestic counterparts were net buyers on Wednesday. Overseas investors bought shares worth ~980 million, while domestic institutional investors were net buyers to the tune of ~1,978 million, provisional data provided by the bourses showed.
Stocks of sugar firms attracted buyers’ fancy after the government on Wednesday scrapped a 20 per cent export duty on raw and refined sugar to boost shipments. Banking stocks were back in better shape on valuebuying, coupled with shortcovering. Major gainers were HDFC Bank, IndusInd Bank and Kotak Bank, rising up to 1.24 per cent.
Broader markets, too, were in better shape, with the BSE small-cap index gaining 0.31 per cent and mid-cap spurting 0.22 per cent.