Economy

Indices extend gains; Sensex jumps over 200 points

Indices extend gains; Sensex jumps over 200 points

The Sensex gained more than 150 points and the Nifty reclaimed the 10,200 level; the gains were led by Tata Motors, GAIL India and Coal India.

On Wednesday, the key indices were dragged lower by interest-rate sensitive stocks like banking, metals and capital goods.

Overseas, the Asian markets saw the shares of most of the companies decline, since investors across the globe have an eye on the final tax legislation in the USA, where policy uncertainty kept sentiment in check.

Gainers on the Sensex included: ICICI Bank, Maruti and HDFC. Meanwhile, foreign portfolio investors (FPIs) sold shares worth a net Rs 1,470.56 crore, while domestic institutional investors (DIIs) bought to the tune of Rs 1,074.39 crore yesterday, as per provisional data released by the stock exchanges. Results are due later this month.

More news: The Developers Behind Firewatch Reveal Their New Game at The Game Awards

"On the macro front upcoming RBI policy and Gujarat state election will be an influential factor for investors which is steering the market to consolidate", said Vinod Nair, Head of Research, Geojit Financial Services.

IRB Infrastructure Developers Ltd slid as much as 6.1 per cent after the company said the Central Bureau of Investigation has filed charges against it over alleged illegal purchases of government land.

In the global markets, Asian shares hovered near two-month lows on Thursday as softer oil and copper prices and uncertainty over USA policy kept many investors on the sidelines, even as some high-tech bellwethers bounced back after a searing sell-off. Participants sensed value-buying opportunities after the equities' recent lacklustre run, making stock valuations attractive, according to market participants. MSCI's broadest index of Asia-Pacific shares outside Japan was barely changed. Japan's Nikkei advanced 1.45%, Hong Kong's Hang Seng went up 0.29%, while China's Shanghai Composite Index surrendered 0.67%. Frankfurt's DAX 30 fell 0.08 percent while Paris CAC 40 shed 0.26 percent in their early deals.


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