Mumbai April 2 (IANS) Key Indian equity indices closed the first day of the 2018-19 financial year with appreciable gains as broadly positive global peers along with robust automobile sales data lifted investors risk-taking appetite.
According to market observers healthy buying was witnessed in auto capital goods and healthcare stocks.
On a closing basis the wider Nifty50 of the National Stock Exchange (NSE) rose by 98.10 points or 0.97 per cent to 10 211.80 points.
The barometer 30-scrip Sensitive Index (Sensex) of the BSE closed at 33 255.36 points -- up 286.68 points or 0.87 per cent from its previous session s close.
The BSE market breadth was bullish with 2 101 advances and 537 declines.
In terms of the broader markets the S&P BSE mid-cap index edged higher by 1.40 per cent and the small-cap index by 2.35 per cent.
"Markets ended sharply higher on Monday after the correction seen in the previous trading session. It was the first trading session of the near month April derivative series and also the first trading session of the financial year 2018-19 " Deepak Jasani Head - Retail Research HDFC Securities told IANS.
"Markets moved higher on the back of positive Asian equity markets and beginning of new derivatives series/new fiscal year " he added.
In terms of investments provisional data with the exchanges showed that foreign institutional investors sold scrips worth Rs 689.75 crore while the domestic institutional investors purchased stocks worth Rs 413.16 crore.
Vinod Nair Head of Research Geojit Financial Services said: "Markets rallied on account of stellar auto sales and value buying of pharma stocks influenced by US FDA (Food and Drug Administration) approvals. US stock futures dropped and other Asian markets reversed an early advance where volume was low as many markets remained closed.
"The markets are expected to remain choppy and support levels are likely to be tested globally due to looming uncertainty. Back home investors are focusing on upcoming RBI (Reserve Bank of India) policy while consensus shows status quo on key rates due to declining yield and inflation " he added.
Sector-wise the S&P BSE auto index augmented by 515.45 points followed by capital goods index by 375.74 points and healthcare index by 326.36 points.
On the other hand the S&P BSE banking indiex fell by 99.57 points and the oil and gas index by 18.75 points.
Major Sensex gainers on Monday were: Kotak Bank up 4.65 per cent at Rs 1 097.40; Adani Ports up 4.33 per cent at Rs 370; Tata Motors up 3.47 per cent at Rs 338.80; Wipro up 2.95 per cent at Rs 289.75; and Tata Motors (DVR) up 2.88 per cent at Rs 189.20.
The Sensex losers were: ICICI Bank down 5.93 per cent at Rs 261.90; Axis Bank down 2.20 per cent at Rs 498.20; Coal India down 2.01 per cent at Rs 277.80; State Bank of India down 1.52 per cent at Rs 246.30; and Bharti Airtel down 1.12 per cent at Rs 394.45.
--IANS
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