Sensex rises over 100 points; Nifty trades at 10417

Andrew Cummings
February 24, 2018

Sustained selling by foreign investors due to the introduction of long-term capital gains tax and anxious over the impact of the $1.77-bln fraud at Punjab National Bank have weighed on domestic equities this month.

The barometer 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 33,832 points, traded at 34,064.04 points - up 244.54, or 0.72 per cent, from its previous close - so far touching a high of 34,094.85 points and a low of 33,832 during the intra-day trade.

Midcaps and small cap indexes rose 239 points and 272 points, respectively.

Asian markets rebounded as comments from a Federal Reserve official eased worries about faster rate rises in the United States. Jubilant Life ended close to 11% lower on reports that the company's promoters have ended the process of their stake sale worth $75mn.

Mumbai: The benchmark BSE Sensex rose over 200 points on sustained buying in key frontline counters led by metal, healthcare, basic material, telecom, banks and finance stocks. ICICI Bank came in second with TTQ of 3,483,296 and 4,235 trades.

Back home, Sun Pharmaceutical Industries (up 2.33%), Tata Steel (up 1.74%) and Bharti Airtel (up 1.23%) edged higher from the Sensex pack. The BSE MidCap Index ended with a positive 1.47% and the BSE SmallCap Index also gained 1.54%. The market breadth is positive as 1894 shares advanced, against a decline of 829 shares, while 208 shares are unchanged.

On the other hand, Asian Paints, GAIL, Eicher Motors, Infosys, HUL, and M&M were down one percent.

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