Sensex zooms 212 pts, Nifty tops 10,600
Yes Bank was the top performer in the Sensex pack, surging 8.26 per cent.
Mumbai: The BSE Sensex rebounded by over 212 points on Thursday to end at a nearly three-month high of 34,713.60 on buying by domestic investors in FMCG, IT, banking and consumer durables stocks amid a strengthening rupee.
Covering up of pending short positions by speculators on expiry of the April derivatives contracts and encouraging earnings by Yes Bank added to the momentum, brokers said.
Yes Bank was the top performer in the Sensex pack, surging 8.26 per cent, after the private lender reported a 29 per cent rise in its net profit (standalone) at Rs 1179.40 crore for the March quarter.
The BSE 30-share Sensex took off on a positive note at 34,532.95 and advanced to the day's high of 34,747.97 before ending at 34,713.60, up 212.33 points, or 0.62 per cent.
This is its highest closing since February 5, when it had finished at 34,757.16. The 50-issue NSE Nifty ended at 10,617.80, up 47.25 points, or 0.45 per cent, after shuttling between 10,628.40 and 10,559.65.
Meanwhile, domestic institutional investors (DIIs) bought shares worth Rs 435.98 crore, while foreign portfolio investors sold to the tune of of Rs 304.79 crore yesterday, provisional data showed. Globally, there was a mixed trend in Asia and a higher opening in Europe as robust corporate earnings helped Wall Street calm concerns over the surge in US bond yields.