Sensex rises 109 points; Infosys, L&T and RIL lead gain
Mumbai, Mar 6 (PTI) The BSE benchmark Sensex on Wednesday closed 109 points higher led by buying mainly in stocks of realty, capital goods, IT and banking sectors amid a firming global trend.
Rising for the second straight day, the Sensex ended 109.44 points, or 0.57 per cent, up to close at 19,252.61. The index had gained 265 points in the previous session.
Similarly, the broad-based National Stock Exchange index Nifty rose by 34.35 points, or 0.59 per cent, to 5,818.60.
Brokers said the rate-sensitive stocks rose on expectations the Reserve Bank of India might cut interest rates in its policy meeting this month.
They said IT stocks rose as investors felt a weak rupee and a rally in global markets might increase revenue of software companies, which get over 60 per cent business from the US and Europe.
The Dow Jones Industrial Average index increased to a record high, as the US service industry expanded at the fastest pace in a year and investors bet global central banks will continue stimulus measures.
The two most heavy with their nearly 16 per cent weightage on the Sensex Reliance Industries and Infosys spurted by 1.03 per cent to Rs 834.80 and 1.56 per cent to Rs 2,966.45, respectively.
Another index-linked Larsen and Toubro advanced by 2.86 per cent to Rs 1,433.70 after Goldman Sachs joined Nomura Holdings and Jefferies India to raise the stock''s rating.
In 30-BSE index components, 18 stocks gained while 12 ended with losses. The Realty sector gained the most by 4.52 per cent to 2,034.94 as DLF spurted by 3.81 per cent to Rs 269.55.
The capital goods index was second best performer by rising 2.47 per cent to 9,525.41 followed by metal index by 2.20 per cent to 9,329.08. IT sector index rose by 1.32 per cent to 6,944.59 and Banking index by 0.65 per cent to 13,616.18.
Following a dreadful washout in the four-State Assembly polls, a humbled Congress accepted its defeat and called for a much needed introspection to rethink their strategy ahead of the 2014 Lok Sabha polls.
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