After impressive
economic growth numbers, high exports growth bolstered
trading sentiment further, pushing the Bombay Stock Exchange benchmark Sensex on Wednesday by nearly 329 points on funds buying metal, realty and banking stocks.
The 30-share index, which had gained 385 points in the last two trading sessions, rose another 328.75 points to 19,850 on data showing exports grew 21.3 per cent in October, raising hopes that the country's overall economic
recovery was on fast track.
Investor confidence got support from data showing that exports to the US and European markets were up, indicating that the global economic environment was positive.
The broad-based National Stock Exchange index Nifty rose 98.20 points to 5,960.90, after touching the day's high of 5,971, as both Reliance Industries and Infosys Technologies ended higher.
Reliance Industries, the most valued in oil sector and heaviest-weighted on the Sensex, gained Rs 3.30 to Rs 990.10.
The second-heaviest, software major Infosys Technologies, rose Rs 5.10 to Rs 3,054.55. The two carry nearly 23 per cent weightage on the benchmark.
The metal sector index gained the most by rising 3.39 per cent to 16,156.05 on expectations that higher growth would improve domestic spending and quarter earnings. The segment major Tata Steel and JSW Steel ended notably higher.
Hindalco Industries, the biggest aluminium producer, gained the most in two weeks by adding Rs 7.55 to Rs 213.60 after the U.S. unit Novelis said it intends to raise $4 billion dollar in gross proceeds from one or more offerings of senior notes.
After a recent pull-down following bribe for loan scam, realty sector was back in demand and rose 3.11 per cent to 3,016.34 as stocks of DLF, DB Realty, HDIL and Indiabulls Realestate recorded handsome gains.
The auto sector index rose 1.90 per cent to 10,291.92 on reports of a higher sales in November month. Mahindra & Mahindra advanced 4.53 per cent to Rs 801. Tata Motors, the biggest truck maker and owner of Jaguar Land Rover, added 4.13 per cent to Rs 1,288.15.
All the sectoral indices, including smallcap and midcap, were in better shape, as buying activity spilled over a wide front on investors purchasing fundamentally strong stocks.
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