Mumbai: Markets showed fireworks a day ahead of Diwali and indices rose to their highest level since January 2008. Sentiment was upbeat after a stellar listing for Coal India.
The PSU company’s scrip rose to a record high, much ahead of the markets expectation and remained firm throughout the day, single handedly increasing the volume to record high. The huge listing of the PSU enticed buying across the sectors.
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Markets started the day northwards and maintained the trend on global cues and as India’s food inflation fell for a third consecutive time during the week ended 23 October.
The BSE Sensex touched a high and a low of 20,917.03 and 20,605.63 respectively.
SBI up 4.64%, Tata Motors up 3.89%, RIL up 3.73%, Hindalco up 3.55%, and HDFC up 3.37% were the major gainers on the Sensex. On the other hand, Hero Honda down 1.15%, Bharti Airtel down 0.61% were the only laggards on the index.
Meanwhile, major European markets were trading in the green territory.