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Mkts rally for 8th day in a row
Rising rupee bolsters sentiment; Sensex climbs 235.05 pts to 60,392.77
Mumbai: Equity benchmarks Sensex and Nifty extended rally for the eighth straight session on Wednesday, propelled by intense buying in IT, healthcare and auto stocks amid sustained foreign fund inflows. A strengthening rupee and positive opening in European markets further bolstered sentiment, traders said. Industrial Production data for February and March inflation rates are scheduled to be announced post-market hours. TCS will kick start the Q4 earnings season later in the day. The 30-share BSE Sensex climbed 235.05 points or 0.39 per cent to settle at 60,392.77, as 17 of its scrips marched higher. During the session, it jumped 279.92 points or 0.46 per cent to 60,437.64. The broader NSE Nifty gained 90.10 points or 0.51 per cent to finish at 17,812.40, with 38 of its scrips ending in the green. In eight days, the BSE benchmark jumped 2,779.05 points or 4.82 per cent, while Nifty climbed 860.7 points or 5 per cent.
"Nifty held on to steady gains on April 12 to end higher for the eighth straight day in trade. Investors in India await the CPI and IIP data post-market, which is a key factor to determine the magnitude of rate hikes by the central bank. TCS is also expected to report its Q4 numbers in the evening. In the US CPI numbers are due for March. These factors could influence the near-term direction of the market," said Deepak Jasani, head (retail research), HDFC Securities.
"The domestic market exhibited cautiousness in anticipation of the release of various economic data and the upcoming Q4 earnings season.