New Delhi: Markets regained their 9,000 mark on Tuesday ending almost 4% up on strong buying after Reserve Bank of India reduced their inflation forecast to 7% from previous 7.5-8%.
The Bombay Stock Exchange Sensex traded positive through out all sectors. The most significant buying was among the metal stocks that surged by 5.5%, followed by power, technology, IT and oil and gas segments.
Sensex opened 2% higher as a reaction to Q3 profits posted by ICICI Bank and State Bank of India on Friday. The 30-share BSE index ended the day at 9,004.08, higher by 329.73. On the other hand 50-share NSE Nifty also ended above 2,750 mark at 2771.35, 92.80 points up.
Shares of Larsen & Toubro were one of the two BSE index losers, since their stakeholders were wary after the company announced an increase in stakes held by them in fraud-hit Satyam Computers. Thy lost 0.4% and last traded at Rs638.20.
Sterlite Industries was the top gainer from the BSE Sensex pack, it traded higher by11.84% to Rs 267.80, followed by Reliance Infrastructure by 11.14% to Rs539.60, Reliance Communications Ltd by 7.15% to Rs171.60, Reliance Industries by 6.41% to Rs1,227.05, Sun Pharmaceuticals Ltd by 6.15% to Rs1,142.05 and NTPC Ltd by 5.99% to Rs190.15.
Positive cues from Japan’s Nikkei index also influenced Sensex, other Asian bourses were closed to celebrate Lunar New Year. Nikkei surged by 4.9% as Bank of Japan announced availability of more funds.