Mumbai Feb 26 (IANS) Positive global cues coupled with forecast of a healthy GDP growth lifted the key Indian equity indices on Monday.
According to market observers positive cues from the Asian and European markets along with buying support for interest rate-sensitive stocks like automobiles banks and capital goods led to the rise.
The barometer 30-scrip Sensitive Index (Sensex) of the BSE closed the day s trade at 34 445.75 points -- up 303.60 points or 0.89 per cent from its previous close of 34 142.15 points.
Similarly the wider Nifty50 of the National Stock Exchange (NSE) edged higher on Monday. It rose by 91.55 points or 0.87 per cent to 10 582.60 points.
In the intra-day trade the S&P BSE Sensex touched a high of 34 483.39 points and a low of 34 225.72 points.
"Markets surged higher on Monday to close with healthy gains. The gains came on the back of positive Asian and European equity markets " Deepak Jasani Head - Retail Research HDFC Securities told IANS.
"Sectorally top gainers were the realty auto media and bank Nifty indices. Top losers were IT PSU banks and pharma indices."
On the currency front the Indian rupee weakened by six paise to close at 64.79-80 against the US dollar from its previous close at 64.73.
In terms of investments provisional data with the exchanges showed that foreign institutional investors sold scrip worth Rs 1 119.51 crore while domestic institutional investors purchased stocks worth Rs 1 409.45 crore.
Vinod Nair Head of Research Geojit Financial Services said: "Market is gradually recovering from the lost ground supported by positive global cues."
"Investors are waiting for Q3 GDP and IIP data GDP is expected to grow at 6.9 per cent which has raised a positive sentiment while reducing the volatility in the market."
Sector-wise S&P BSE automobile stocks rose by 540.83 points banking index by 465.86 points capital goods index by 345.92 points metal index by 154.90 points and oil and gas index by 141.72 points.
However IT index receded by 137.07 points.
Major Sensex gainers on Monday were: Maruti Suzuki up 3.41 per cent at Rs 9 001.80; Tata Motors up 3.22 per cent at Rs 372.05; IndusInd Bank up 2.94 per cent at Rs 1 691.25; Axis Bank up 2.94 per cent at Rs 552.30; and Larsen and Toubro up 2.83 per cent at Rs 1 339.20.
The Sensex losers were: Sun Pharma down 2.46 per cent at Rs 556.15; Tata Consultancy Services (TCS) down 1.35 per cent at Rs 3 035.25; Infosys down 1.26 per cent at Rs 1 141.05; ITC down 0.93 per cent at Rs 266.55; and Wipro down 0.76 per cent at Rs 291.90.
On Friday -- the previous trade session -- both the key indices had closed at almost a week s high on the back of global cues along with a strong rupee and value buying.
The Nifty50 had edged higher by 108.35 points or 1.04 per cent to close at 10 491.05 points while the Sensex closed at 34 142.15 points -- up 322.65 points or 0.95 per.
--IANS
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