The BSE benchmark Sensex on Wednesday regained the 18,000-level after over six months by adding 354 points on sustained buying by funds amid hopes that easing inflation will lead to low interest rate regime, and a firm trend in global markets.
The BSE 30-share index, which gained nearly 100 points in last two trading sessions, shot up by 353.84 points, or 1.98 per cent to 18,202.41 —— level last seen in August.
Similarly, the NSE 50-scrip index Nifty regained the 5,500 mark by jumping 115.90 points, or 2.14 per cent to 5,531.95.
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The gains were led by auto, capital goods, banking and realty sectors.
Brokers said trading sentiment was boosted as inflation has reached 2-year low, strengthening investor hopes that the Reserve Bank may begin to cut lending rates.
Besides, they added, a strong trend in the global markets on indications that a solution to Greece’s debt worries was in sight bolstered investor confidence.
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FIIs, main market movers, have been picking Indian stocks and bought shares worth Rs. 1,030.12 crore on Tuesday as per provisional data from the stock exchanges.
Auto major Tata Motors hit a record high by adding 6.91 per cent, following Q3 earnings. Maruti Suzuki rose 3.04 per cent and Mahindra and Mahindra by 2.57 per cent.
The realty sector index shot up 5.01 per cent to 2,030.73, followed by capital goods index —— up 4.01 per cent to 10,871.29.
The major gainers were Infosys, TCS, Bajaj Auto, Hero MotoCorp, BHEL, L&T, DLF, SBI, ICICI Bank, BHFC Bank, Tata Power, Tata Steel and Bharti Airtel.