The 30-share index ended over 160 points higher at 34,100, while the Nifty ended above the 10,450-mark as well, up almost half a percent.
Ahead of Friday the 13th tomorrow, benchmark indices have ended the day on a positive note. The development is interesting in particular as it marks the sixth consecutive day of positive moves on the indices.
The 30-share index ended over 160 points higher at 34,100, while the Nifty ended above the 10,450-mark as well, up almost half a percent.
The Street will later watch out from cues from key economic data, which are index of industrial production (IIP) as well as consumer price inflation (CPI).
In the broader markets though, midcaps lost some sheen during the day. The index has managed to close on a negative note of 0.3 percent.
Among sectoral indices, Bank Nifty managed to shut in the green terrain, but some bleeding was visible among PSU banks. Metal and FMCG stocks too saw a fall.
Oil marketing companies were in focus, recovering from the day’s low points after commentary from the oil minister stated that there was no order given to these firms to hold back further hikes.
Stocks in the news
Shares of Infosys gained around 3 percent as investors waited for cues from its March quarter results which will be declared tomorrow. The results are likely to be out at 4 pm, post market hours. Other IT companies followed suit a well and the Nifty IT index has ended up over 3 percent higher.
Oil retailers staged a recovery from the losses that it witnessed in the morning on the back of further spike in crude oil prices due to tensions in Middle East. BPCL and HPCL ended flat.
Promoter group entities of Dish TV have made an offer to buy an additional 26 per cent equity stake from public shareholders of the direct-to-home (DTH) player for Rs 3,701 crore. The stock ended over 8 percent higher.
Shares of Capacite Infra bagged repeat orders worth Rs 162.7 crore. The stock gained around 4 percent.
Harrisons Malayalam gained 10 percent after Kerala High Court restored 30,000-acre plantation land to the firm.
In other news
Gold clocked Rs 32K-mark at the bullion market on positive global cues amid continued buying by local jewellers. Silver also reclaimed the Rs 40,000-level per kg by gaining Rs 240, backed by an increased offtake by industrial units and coin makers.
The pick-up in economic growth in India is positive for asset-backed securities (ABS), as it supports the ability of borrowers to earn income and repay their loans, Moody's Investors Service said
Global Update:
Global markets were under pressure amid geopolitical tensions. Investor sentiment was curbed by the threat of imminent US military action in Syria. France's CAC, Germany's DAX and Britain's FTSE were mildly lower at the time of writing this article.
Asian markets - China's Shanghai Composite, Japan's Nikkei, Hong Kong's Hang Seng and Australia's ASX 200 ended down up to 0.9 percent.
Crude oil prices were volatile after sharp rise for last couple of sessions. Brent crude futures were trading at around USD 72 a barrel after hitting the highest level since late 2014.