Metal, auto shares lift Sensex by 154 pts
December 29, 2014 17:03
Buying in metal, auto and consumer durable shares today helped benchmark Sensex rally for the second straight session and notch up a gain of 154 points to end at 27,395.73, amid firm global cues and renewed buying by foreign funds.
Markets were also boosted by optimism on the growth front while buzz that the government will use the ordinance route to push more economic reforms provided support, brokers said.
Buying was seen across-the-board as 11 out of 12 sectoral indices closed with gains while only BSE banking sectoral index finishing with minor losses.
Smart rise in Tata Motors, HDFC, RIL, ITC, TCS, Sesa Sterlite, Sun Pharma, Hero MotoCorp, Hindalco and HUL mainly supported the Sensex rise.
Economic growth is expected to pick up in the current fiscal and will be "much better" in 2015-16, Finance Minister Arun Jaitley today said in New Delhi. The Indian economy grew by 5.3 per cent in the September quarter from a year earlier, and is expected to grow 5.5 per cent in the year that ends on March 31, 2015.
The BSE 30-share gauge resumed better and remained in positive throughout the day to log a high of 27,507.25 before concluding at 27,395.73, a rise of 153.95 points or 0.57 per cent. On Friday, it had inched up by 33.17 points.
The 50-issue CNX Nifty of the NSE also improved further by 45.60 points, or 0.56 per cent, to 8,246.30.
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