Mumbai, July 23 (Inditop.com) Strong corporate earnings prompted investors to buy into heavyweight stocks, particularly from realty, consumer durables and metal sectors, resulting in a key index of the Indian equities markets reverse Wednesday’s losses and gain more than 387 points Thursday.
The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 15,008.78 points, gained 387.92 points or 2.61 percent to close at 15,231.04 points.
Similarly, the Nifty of the National Stock Exchange (NSE) closed 2.84 percent higher at 4,523.75 points.
Broader market indices ended in the positive terrain as well, with the BSE midcap index closing 2.29 percent up and the BSE smallcap index ending 2.16 percent higher.
The market breadth was positive with 1,803 stocks advancing compared to 835 declining, and 80 remaining unchanged.
Among the gainers on the 30-scrip Sensex were Reliance Infra, up 6.91 percent at Rs.1,166.65; DLF, up 6.77 percent at Rs.369.65; Maruti Suzuki, up 6.44 percent at Rs.1,295.55 and Hindalco, up 6.08 percent at Rs.90.70.
There were only two losers on the Sensex Thursday: Bharti Airtel, down 1.09 percent at Rs.813.90, and ONGC, which ended almost flat at Rs.1,092.85, losing Rs.0.05.
Data with the market watchdog, Securities and Exchange Board of India (SEBI), showed foreign funds were net buyers, lapping up scrips worth a little over $30 million.
Other Asian markets ended in the green as well, with the Nikkei 225 Stock Average, a key index of the Tokyo Stock Exchange, closing Thursday 69.78 points up at 9,792.94 points, after profit booking pulled it down from the higher levels it was trading at till about 30 minutes before end of trade.
On the other hand, the Hang Seng, the primary index of the Hong Kong Stock Exchange, rose smartly to shut shop at 19,817.7 points, up 569.53 points.
In the European markets, the FTSE of Britain slipped into the red as investors booked profits after seven consecutive days of rise, and was ruling at 4,477.81 points, down 15.92 points.
Its French peer CAC 40 was ruling 20.37 points lower at 3,284.7 points.
The US markets were poised for a higher opening with key index futures ruling in the green ahead of quarterly earnings results from Microsoft, McDonalds and American Express.
While the Dow Jones Industrial Average futures was ruling 0.3 percent, the Standard and Poor’s 500 index future was up 0.4 percent.
The technology-scrip heavy Nasdaq futures was trading 0.5 percent.
