NEW DELHI: Domestic equity markets finished on a positive note for the sixth consecutive session on Wednesday with the benchmark BSE sensex rising over 250 points, led by banking and realty stocks.
The 30-share BSE sensex surged 284 points or 0.84 per cent to close at 34,109; while the broader NSE Nifty finished 82 points or 0.83 per cent higher at 10,062.
Top gainers in the sensex pack included M&M, Bajaj Finance, Kotak Bank, Nestle India, SBI and ONGC with their shares rising as much as 5.51 per cent.
While NTPC, IndusInd Bank, Bharti Airtel and Maruti were the top losers, falling up to 1.96 per cent.
On the NSE platform, sub-indices Nifty PSU Bank and Realty gained as much as 5.12 per cent.
Analysts said that the bulls continued to maintain their firm grip on the markets as the benchmark indices surged led by heavy foreign fund inflow and positive global cues.
Encouraging comments by Prime Minister Narendra Modi that India’s economy would get back on track as the government is working towards systematic reforms also boosted investor sentiments, they noted.
“Markets are looking beyond the first quarter given that this fiscal year is a washout,” Rusmik Oza, head of fundamental research at Kotak Securities told news agency Reuters.
“First-quarter results will still play a crucial role as nobody knows the extent of damage and will be a reality check. Even if the markets sustain these higher levels, we will see a downturn during the next earnings season,” she added.
Meanwhile, the rupee surrendered all intra-day gains to provisionally settle 11 paise lower at 75.47 against the US dollar, even as domestic equities were trading in positive territory.
On a net basis, foreign portfolio investors bought equities worth Rs 7,498.29 crore in the capital market on Tuesday, provisional exchange data showed.
(With agency inputs)