Sensex closes 273 points higher on ECB stimulus

Extending gains for the seven consecutive day, the Sensex rallied by 273 points to end at 29,278.84 on on persistent buying in select counters on the back of strong global cues following the European Central Bank (ECB) decision about keeping interest rates unchanged and announcement of bigger-than-expected stimulus programme.

Brokers said apart from robust rally in global markets following the ECB's stimulus measures to kickstart the eurozone economy, positive investor sentiments in view of pre-budget optimism helped the Indian equities attract fund inflows.

Shares of auto, realty, capital goods, power, metal and banking sectors firmed up on good buying enquries.

Foreign portfolio investors (FPIs) continued their buying spree on Thursday as they bought shares worth a net Rs 592.79 crore as per provisional data.

The Sensex resumed higher at 29,189.45 and shot up further to 29,408.73 before concluding at all-time closing high of 29,278.84, disclosing a gain of 272.82 points or 0.94 per cent.

The Sensex has gained by 1,932.02 points or 7.06 per cent in the seven days.

The CNX 50-share Nifty also rose by 74.20 points or 0.85 per cent to end at all-time closing high of 8,835.60 after hitting of 8,866.40.

Asian markets ended higher after ECB's stimulus move.

Key benchmark indices in China, Hong Kong, Japan, Singapore, South Korea and Taiwan ended higher by 0.25 pct to 1.34 pct.

European stocks extending their new-year rally as investors cheered the European Central Bank's decision to buy government bonds in a bid to revive the region's economy and stave off deflation. Key benchmark indices in UK, France and Germany were trading higher by 0.37 pct to 1.40 pct.

Mr.Jignesh Chaudhary, Head Of Research, Veracity Broking Services said," Local equities extended its gain today also and hit a record high for a fourth consecutive session as blue chips continued to rise with the help of FIIs. During the day index rose over one per cent which helped Nifty to trade at new all time high 8866 and BSE at 29408".

The indices also got the boost from the step taken by ECB to launch the asset purchase program that too came in larger than expectation, he added.

22 scrips out of the Sensex pack ended higher while remaining eight finished lower.

Major gainers were Taa Power (6.86 pct), Taa Motors (3.81 pct), Bharti Airtel (3.72 pct), Cipla (3.15 pct), Larsen (2.58 pct), M&M (2.34 pct), HDFC Bank (2.13 pct), SSLT (2.01 pct), HUL (1.94 pct), NTPC (1.21 pct) and Wipro (1.19 pct).

However, Gail India fell by 1.80 pct, BHEL 1.67 pct and ONGC 1.09 pct.

Among the S&P BSE sectoral indices, Auto 1.51 pct followed by Realty 1.48 pct, Capital Goods 1.32 pct, Power 1.17 pct, Metal 0.86 pct and Bankex 0.86 pct.

However, small-cap and mid-cap indices moved down by 0.73 pct and 0.14 pct respectively on fresh selling by retail investors.

As a result, total market breadth remained negative as 1,802 stocks ended in the red, 1,140 closed in the green and 100 ruled steady. Total turnover rose to Rs 4,032.25 crs from Rs 3,553.11 crs on Thursday.