Sensex gains 287 points; capital goods stocks rise

Mumbai, June 10 (IANS) After six consecutive sessions of losses, a benchmark index of the Indian equities markets, the 30-scrip Sensitive Index (Sensex), surged 287 points or more than 1.00 percent during the mid-afternoon trade session on Wednesday.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) also made gains during the session under review. It was trading 87 points or 1.08 percent up at 8,109.15 points.

The Sensex of the S&P Bombay Stock Exchange (BSE), which opened at 26,517.32 points, was trading at 26,768.36 points (at 1.05 p.m.), up 287.11 points or 1.08 percent from the previous day’s close at 26,481.25 points.

The Sensex has touched a high of 26,786.23 points and a low of 26,493.29 points in the intra-day trade so far.

According to the Angel Broking, the Indian markets opened in the positive territory tracking other Asian peers.

The firm said the Indian markets continued their downtrend on Tuesday, when the investors were anxious over the US Fed rate hike decision, delays over Greece loan repayment, weak monsoon forecast and disappointing quarterly earnings.

The possibilities of MSCI (Morgan Stanley Capital International), including China’s ‘A’ shares in MSCI EM (emerging markets) index, also weighed on the sentiments.

There is a possibility that India’s weightage in the index may be reduced as a result of the entry of Chinese stocks and thus effect capital flows.

During Wednesday’s mid-afternoon trade session, healthy buying was observed in the capital goods, automobile, banks, healthcare, oil and gas, consumer durables and information technology (IT) sectors.

The S&P BSE capital goods index zoomed by 309.98 points, followed by automobile index which rocketed by 261.28 points, bank index augmented by 259.44 points, healthcare index rose by 173.96 points.

The S&P BSE oil and gas index was higher by 101.89 points, consumer durables index gained by 96.65 points. and IT index was up by 90.70 points.

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