Sensex Surges Over 250 pts, Nifty at Highest Level Ever in 2016

Sensex surges 259.33 points to close just below 27,000 at 26,999.72; Nifty climbs 83.75 points to 8,287.75.

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Business
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People walk pass the Bombay Stock Exchange (BSE) building displaying India’s benchmark share index on its facade, in Mumbai. (Photo: Reuters)

Short covering on the back of latest key economic decisions, combined with positive global cues and a firm rupee, lifted Indian equity markets on Thursday.

The day’s rally led the wider 51-scrip Nifty of the National Stock Exchange (NSE) to touch its new 2016 intra-day high, whereas the barometer 30-scrip sensitive index (Sensex) of the BSE reclaimed the 27,000 points mark.

Both key indices provisionally closed in the positive territory, with healthy buying witnessed in banking, automobile and capital goods stocks.

The NSE Nifty edged up by 83.75 points or 1.02 percent, at 8,287.75 points.

Similarly, the BSE Sensex made appreciable gains during the day’s trade. It opened at 26,926.17 points and provisionally closed at 26,999.72 points (at 3.30 pm)–up 259.33 points or 0.97 percent from the previous close at 26,740.36 points.

The Sensex touched a high of 27,069.23 points and a low of 26,872.59 points during the intra-day trade.

The BSE market breadth was tilted in favour of the bulls– with 1,608 advances and 1,003 declines.

On Wednesday, the key indices ended on a positive note due to supportive global and domestic cues. The barometer index surged by 215.84 points or 0.81 percent, while Nifty edged up by 76.15 points or 0.94 percent.

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