Mumbai, Aug 9 (UNI) Following healthy gains in the US market overnight, India’s benchmark indices mirrored similar trend as both BSE Sensex and Nifty surged more than one per cent each as buying emerged in almost all heavyweight shares.
The BSE Sensex rose 819.69 points to close at 79,705.91 while the NSE Nifty recovered 250 points to close at 24.367.50.
The market has been experiencing high volatility recently in the wake of weak global cues, RBI’s action and cautious approach due to inflationary pressures, geopolitical tensions, not so impressive Q1 earnings, and valuation concerns.
The volatility index India Vix, though fell today by 7.59 per cent, is up about 18 per cent this month so far. The trading community sources also said that investors need to be cautious while taking any decision due to high volatility in the market.
The Foreign Institutional Investors (FIIs) sold equities worth Rs 2626 crore in the last trading session while the Domestic Institutional Investors (DIIs) bought to the tune of Rs 577 crore, according to data available.
During the intra-day, BSE Sensex spurted nearly 1100 points at 79,984.24 to touch day’s high, before closing at 79,705.91, up 819.69 pts from its previous close. The day’s low was 79,549.09.
The stocks that lifted the market were Consumer Discretionary Goods and Services by 1.57%, Auto by 1.51%, Realty by 1.56% and Power by 1.33%.
The Mid cap and the small cap indices went up 1.21% and 0.79% respectively.
In 30-scrip BSE Sensex shares of 28 companies advanced and ended in green while shares of only two companies Sun Pharma and Kotak Bank declined from previous close.
The gainers were RIL by 1.74% at Rs 2,948.50, TCS by 1.35% at Rs 4228.75, SBI by 2.01% at Rs 824.3 and Infy by 1.58% at Rs 1770.75 among others, while the losers included Sun Pharma and Kotak Mahindra Bank on the BSE Sensex.
