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BSE Sensex breaches 20K-mark intra-day, logs highest gain in 4 years

Buying was seen across-the-board on Tuesday as all 13 sectoral indices closed with gains upto 6 per cent. Auto, FMCG, capital goods and consumer durable segments were the main pace-setters.

BT Online Bureau   Mumbai     Last Updated: September 10, 2013  | 17:43 IST
Sensex logs highest gain in 4 years, jumps 727 points
PHOTO: Associated Press

The BSE Sensex extended gains for the fourth straight session on Tuesday, even breaching the 20,000-mark intra-day, as a host of positive global as well as local factors kept the market tempo upbeat.

The 30-share index of the Bombay Stock Exchange resumed strong following rise in Asian stocks triggered by rally on Wall Street on Monday before zooming, for the first time in nearly one-and-a-half-months, to an intra-day high of 20,012.69.

The Sensex, which gained 1,030 points in the last three sessions, ended at 19,997.10, a hefty surge of 727 points or 3.77 per cent - its biggest gain in absolute term in more than four years.

The index had surged 2,110.79 points, or 17.34 per cent, on May 18, 2009, when the UPA government came to power.

Buying was seen across-the-board on Tuesday as all 13 sectoral indices closed with gains upto 6 per cent. Auto, FMCG, capital goods and consumer durable segments were the main pace-setters.

The NSE Nifty index jumped 216.35 points, or 3.81 per cent, to 5,896.75, after touching 5,904.85.

MCX-SX's SX40 index ended at 11,849.66, up 458.1 points or 4.02 per cent.

The threat of immediate US-led military action against Syria appeared uncertain with Washington saying it will consider Russia's call for Syria to turn over its chemical weapons to international control. As a result, October crude oil fell below $109 a barrel and October Brent crude, the European oil benchmark, was trading below $113 a barrel.

The Indian rupee, too, continued its upward journey for the fourth consecutive week and closed at 63.84 versus the US dollar, up 140 paise, or 2.14 per cent.

Apart from the rupee's gains, investors were buoyed by trade data that showed exports on the uptick for the second straight month in August, a revival in car sales last month and a cut in the floor price for auctioning telecom spectrum.

"Markets up-move continued today due to favourable trade data," said Rakesh Tarway, AVP of research at Motilal Oswal Securities Ltd. "Moreover, indications of reduced tension in Syria also helped the markets today."

FII buying was also driven after the RBI allowed non-residents to buy shares of Indian entities listed on stock exchanges under the FDI scheme, subject to certain conditions.

With inputs from PTI

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