New Delhi: Markets had a bull run on favourable global cues on Thursday. The Bombay Stock Exchange made gains of 4.6%, its best close in five months as buying continued across the board on investor optimism.
Early trade in the domestic indices, were boosted by rally in global markets. Wall Street surged on Wednesday on the back of factory and home sales data that raised the hopes of improving economic downturn. This led the stocks across the Asia pacific region.
Before closing, sentiments were further boosted by strong European markets. Investors were also hoping positive outcome of the on going G-20 summit in London that could revive the global economy.
Inflation for week ended 21 March rose marginally to 0.31% from previous week’s 0.27%. But investors are still expecting further easing of the monetary policy by the Reserve Bank of India as assured by the Prime Minister himself.
The 30-share BSE index concluded its session higher by 446.84 points at 10,348.83 and the 50-share NSE Nifty ended up by 150.70 points at 3,211.05.
Realty outperformed other segments, gaining by 9%. There were other hot stocks from metal, oil and gas and capital goods sectors.
DLF Ltd led the rally in BSE by 15.08% to Rs203.35, followed by Jaiprakash Associates by 13.23% to Rs96.70, Tata Motors by 12.84% to Rs202.95, Reliance Communication by 9% to Rs196.15, ONGC by 8.28% to Rs870.40, Wipro by 7.41% to Rs270.25, Tata Steel by 7.15% to Rs224.85, Hindalco Industries by 7.03%to Rs56.35 and Larsen and Toubro by 6.65% to Rs717.25.
Loser from the BSE pack was only Hindustan Unilever Ltd today, down by 2.49%.
Meanwhile, the Asian markets surged on auto stocks rally. Japan’s Nikkei climbed by 4.4% and Hang Seng soared by 7.4%, their best close in three months.