Sensex at 11-month high |
Markets put up a strong rally in India on an across-the-board buying frenzy, lifting the sensex about 500 points to close at 11-month high of 27,627 and the Nifty above 8,400 amid robust global cues.For the sensex, it`s the biggest single-day gain in over a month.The sentiment got a big push following a rally in global equities as investors cheered a strong US jobs report while a landslide victory for Japan`s ruling coalition in weekend elections boosted stimulus hopes.The investor focus now shifts to the first leg of corporate earnings. TCS and Infosys are slated to come out with their results on July 14 and July 15, respectively.Monsoon`s coverage of most part of India and a stronger possibility of passage of the deadlocked GST Bill in Rajya Sabha gave more reasons to cheer.After opening higher, the sensex ended at an 11-month high of 27,626.69, up 499.79 points, or 1.84 per cent — its biggest single-day gain since May 25 when it had risen 575.70 points. Today`s closing is the highest since August 19 last year when it ended at 27,931.64. The 50-share NSE Nifty recaptured the 8,400-mark before closing at 8,467.90, a gain of 144.70 points, or 1.74 per cent.Metals led the rally, followed by auto, banking, PSU and realty.
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