Economy

Sensex rises over 150 points, Nifty above 10300

Sensex rises over 150 points, Nifty above 10300

Stocks stood their ground on Monday with a rally for a third straight session as the Sensex and the Nifty lapped up the positive overseas trend, buoyed by strong U.S. payroll data.

The market rallied for third consecutive session today as the 30-share BSE Sensex gained 205.49 points at 33,455.79 and the 50-share NSE Nifty closed above the 10,300-mark, rising 56.60 points to 10,322.30.

Optimistic buying in blue-chip stocks ahead of release of industrial production and retail inflation data later this week drove stocks higher.

The 30-share Sensex was trading higher by 194.68 points, or 0.58 per cent, at 33,444.98, with realty, oil and gas, PSU, metal, banking and auto stocks staying in good shape.

The Sensex touched a high of 33,450.31 points and a low of 33,313.17 points in the trade so far.

The broader NSE Nifty, which finished above 10,300 for the first time this month, ended 0.55 percent higher at 10,322.25.

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The gauge had risen by 653.12 points in the previous two sessions.

Global shares had a field day.

The sharp upside may be indicating that equity benchmarks may have started pricing in early the outcome of Gujarat assembly elections that is scheduled to be announced on December 18. Investors eyed Federal Reserve's policy meeting later this week, too.

Also on the buy list were HDFC, Wipro, Coal India, SBI, ITC, Bharti Airtel, Sun Pharma and Dr Reddy's.

Provisional data with the exchanges showed that foreign institutional investors sold scrips worth Rs 185.60 crore while DIIs bought stocks worth Rs 108.94 crore.

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