Mumbai: Paring early losses, the BSE benchmark Sensex on Monday shot up by 76 points to close above the 20,000 mark for the first time in over six weeks, led by gains in bluechips, including TCS and Bharti Airtel, as inflation numbers met market expectations amid firm global cues. (Agencies)
The 30-share index started the day lower at 19,904.47 on profit booking triggered by weak IIP and retail inflation numbers that came after trading hours on Friday. It, however, reversed the falling trend during the day and closed 76.01, or 0.38 percent higher at 20,034.48. This is the first time that the index has closed above the 20,000 mark since 20,215.40 on May 30.
Similarly, the wide-based National Stock Exchange index Nifty gained 21.80 points, or 0.36 per cent, to close at 6,030.80. Also, SX40 index, the flagship index of MCX-SX, closed 51.15 points, or 0.43 percent higher at 11,940.03. Brokers said the trading sentiment improved as wholesale- price index based inflation rose less than the market expectations and optimism over the earnings season which took a firm start with Infosys posting smart numbers. The WPI-based inflation rose 4.86 percent in June compared with a 4.7 percent in May. They said a firming trend in global markets as Chinese economic growth matched forecasts further influenced the trading sentiment.
Out of the 30 BSE index components, 18 stocks closed with gains led by Hindalco rising 3.69 percent to Rs 105.40. Other major gainers included Tata Consultancy Services (2.20 percent), Bharti Airtel (3.20 percent) and Hindustan Unilever (2.06 percent). Sector-wise, the realty sector index gained the most by 1.94 percent to 1,547.66, followed by FMCG by 1.19 percent to 7,030.41.
However, the third most heavy on the index Infosys fell by 2.17 percent to Rs 2,741.85 on profit booking. The stock had surged 12 percent in the previous session after reporting higher quarter earnings.
Mumbai: Paring early losses, the BSE benchmark Sensex on Monday shot up by 76 points to close above the 20,000 mark for the first time in over six weeks, led by gains in bluechips, including TCS and Bharti Airtel, as inflation numbers met market expectations amid firm global cues.