Market logs second gain in 10 sessions; Sensex soars 295 points

Sensex falls 407 points to 34,005 Nifty at 10,454 YES Bank ICICI Bank HDFC top losers

Sensex falls 407 points to 34,005 Nifty at 10,454 YES Bank ICICI Bank HDFC top losers

In the Sensex pack, Tata Steel, YES Bank, Power Grid, IndusInd Bank and Hero Moto were the top stocks gaining nearly 4%.

Brokers said sustained buying by domestic institutional investors ahead of inflation data to be released after market hours today improved the market sentiment.

The wider Nifty50 of the National Stock Exchange held the 10,500-mark and closed higher by 84.80 points or 0.81 per cent at 10,539.75 points.

The benchmark BSE Sensex was up 215 points or 0.63 percent at 34,220 in early trade after falling about 3 percent last week. The index recovered briefly to 34,070.73 before dropping again to close lower by 407.40 points, or 1.18 per cent, at 34,005.76.

In terms of investments, provisional data with the exchanges showed that foreign institutional investors sold scrips worth Rs 814.11 crore while domestic institutional investors bought stocks worth Rs 1,342.70 crore.


Tata Steel's fivefold rise in the third quarter results on Friday added to the advantage for the stock. It had posted consolidated net profit of Rs 231.90 crore in the same quarter last fiscal. Both indices were higher than Friday's close by almost 0.7%.

Larsen and Toubro rose by 1.63 per cent after it announced a Rs 2,200 crore order win by its wholly-owned arm L&T Hydrocarbon Engineering from Abu Dhabi-based Al Dhafra Petroleum Operations Company Limited. Shares of Tata Steel, Bank of Baroda, Marico, Bajaj Finserv, PNB, Power Grid, Yes Bank, IndusInd Bank, UPL and BHEL advanced 2-9%.

Among the sectoral indices, BSE Power (1.87%), realty (1.73%), capital goods (1.65%), utilities (1.64%) and industrials (1.57%) were the top gainers.

On the other hand, the S&P BSE IT index edged lower by 52.47 points and the Teck (technology, media and entertainment) index by 22.59 points.

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