Mumbai Oct 12 (IANS) Paring the previous day s losses key Indian equity indices closed on a higher note on Thursday buoyed by positive global cues and intense buying activity during the last hour of trade.
Index heavyweights like Reliance Industries (RIL) Tata Consultancy Services (TCS) Sun Pharma Axis Bank and Hindustan Unilever among others aided in the upward trajectory of the indices according to market observers.
The 30-scrip Sensitive Index (Sensex) of the BSE closed above the psychologically important 32 000-mark which was breached for the first time on July 13.
The Sensex closed at 32 182.22 points -- up 348.23 points or 1.09 per cent -- after touching a high of 32 209.03 points and a low of 31 813.67 during intra-day trade.
The wider Nifty50 of the National Stock Exchange (NSE) surged by 111.60 points or 1.12 per cent to close at 10 096.40 points.
"After showing decline in the last session Nifty shifted into a sharp upmove and closed the day higher by around 112 points closing near the day s high " Deepak Jasani Head - Retail Research HDFC Securities told IANS.
"Technically the Nifty by rising sharply today has nullified the negative pattern created in the last session. This is a positive indication and one may expect further upmove in the next session " Jasani asserted.
In terms of the broader markets the S&P BSE mid-cap index rose by 0.98 per cent while the small-cap index gained 1.15 per cent.
Vinod Nair Head of Research Geojit Financial Services said: "Market regained from yesterday s loss and stayed close to 10 100-mark ahead of economic data inflation and IIP (Index of Industrial Production) later during the day."
"Good demand on consumer stocks on arrival of festival season and ecstasy on pharma stocks amid some positive regulatory approvals fuelled the market. Investor s expectation on some tail winds in IT stocks ahead of results kept the counter busy " Nair added.
On the currency front the rupee strengthened by six paise to close at 65.08-09 against the US dollar from its previous close at 65.14-15.
In terms of investments provisional data with the exchanges showed that foreign institutional investors (FIIs) sold scrips worth Rs 668.13 crore while domestic institutional investors (DIIs) purchased stocks worth Rs 872.54 crore.
According to sources RIL the most valued company on BSE in terms of market capitalisation touched its new high of Rs 876.20 per share on an intra-day basis.
On a closing basis the market capitalisation of the company stood at Rs 5 52 515.10 crore as shown on the BSE side.
"Shares of Reliance Industries rallied over four per cent to hit its record high of Rs 875 ahead of its September quarter earnings due tomorrow (Friday) " said Dhruv Desai Director and Chief Operating Officer of Tradebulls.
"Top gainers on the NSE were Hindalco Infratel and Reliance Industries while on the decline were Bharti Airtel Ultratech Cement and Indian Oil Corporation " Desai told IANS.
All the 19 sub-indices of the BSE ended in the green.
Sector-wise the S&P BSE metal index surged by 266.16 points followed by banking index by 257.27 points and automobile index by 245.75 points.
Major Sensex gainers on Thursday were: RIL up 3.82 per cent at Rs 872.50; Sun Pharma up 2.59 per cent at Rs 539.40; TCS up 1.92 per cent at Rs 2 548.55; Axis Bank up 1.77 per cent at Rs 524.65; and Hindustan Unilever up 1.71 per cent at Rs 1 238.20.
Major Sensex losers were: Bharti Airtel down 0.83 per cent at Rs 400.05; Coal India down 0.46 per cent at Rs 282.40; Infosys down 0.37 per cent at Rs 927.15; Asian Paints down 0.03 per cent at Rs 1 160.10; and Power Grid down 0.02 per cent at Rs 202.70.
--IANS
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