Sensex reclaims 27K level, soars 398 pts at midsession
Mumbai, Sep 18 (PTI) The Bombay Stock Exchange (BSE) Sensex reclaimed the 27,000-mark after a week by surging over 398 points at midsession Thursday on widespread buying by funds and retail investors amid optimism over trade ties with China and rise in foreign capital inflows.
The 30-share Sensex after opening in the negative zone rebounded to regain the psychological 27,000-mark for the first time since September 11 to trade 398.11 points, or 1.49 per cent, higher at 27,029.40.
The gauge had gained over 138 points in Wednesday’s trade.
All sectoral indices led by realty, consumer durables and capital goods were trading in positive terrain with gains up to 4.26 per cent.
Also, the NSE 50-share Nifty regained 8,000 level by rising 111.05 points, or 1.39 per cent, to trade at 8,086.55 after falling to 7,939.70 at the outset.
Brokers said sentiments bolstered on optimism that trade ties with China would attract foreign inflows and revive country’s economic growth, triggering a flurry of buying by participants, helping the Sensex to regain 27,000-mark.
Meanwhile, China plans to invest around USD 500 billion overseas in the next five years, a large share of which is expected to find India’s way.
Stocks of Sun Pharmaceutical Industries rose 2.31 per cent after the company entered into a licensing agreement with Merck & Co for using investigational therapeutic antibody candidate, tildrakizumab, for treatment of plaque proriasis.
Other prominent gainers were Hero MotoCorp (2.86 pc), L&T (2.66 pc), RIL (1.81 pc), ONGC (1.41 pc), NTPC (2.24 pc), HDFC Ltd (2.96 pc), BHEL (2.97 pc), SBI (1.98 pc), Axis Bank (1.34 pc), ICICI Bank (1.90 pc) and Cipla (1.37 pc).