3:53 pm
Jack
MUMBAI : Indian markets continued to move higher in a relief rally as
hopes that European leaders would come out with some solution for
Greece's debt woes boosted sentiments.
At 2:50 pm; Bombay Stock Exchange's Sensex was at 16538.91, up 487.81 points or 3.04 per cent. The 30-share index touched intraday low of 16282.74 and high of 16546.61
National Stock Exchange's Nifty was at 4978.95, up 143.55 points or 2.97 per cent. The broader index touched a high of 4980.90 and low of 4905.15 in trade so far.
BSE Midcap Index was up 1.73 per cent and BSE Smallcap Index gained 1.51 per cent.
Amongst the sectoral indices, BSE Realty Index gained 4.14 per cent, BSE IT Index moved up 3.71 per cent, BSE Oil&gas Index advanced 3.29 per cent and BSE Bankex was 2.91 per cent higher.
Shares of beaten down realty and banking companies gained momentum as traders took positions on hopes that rate hike cycle may be nearing an end in next few months.
Shares if IT companies continued to move higher following recent correction in rupee against the dollar. However, the partially convertible rupee was at 49.15/16 per dollar against previous close of 49.44/45 on the back of dollar inflows in capital markets.
DLF (7.63%), Jaiprakash Associates (6.66%), Tata Motors (6.02%), Hindalco Industries (4.92%) and Reliance Industries (4.91%) were amongst the major Sensex gainers.
Market breadth was positive on the BSE with 1155 gainers against 271 losers.
