Sensex closes above 34,000, up 323 points; kicks off March series on a positive note
The BSE Sensex on Friday reclaimed the 34,000-level, surging about 323 points to end at one-week high of 34,142.15 as March derivative series got off to a strong start amid a firming trend on other Asian bourses
Mumbai: The BSE Sensex on Friday reclaimed the 34,000-level, surging about 323 points to end at one-week high of 34,142.15 as March derivative series got off to a strong start amid a firming trend on other Asian bourses.
In addition, the rupee rising to to 64.76 against the US dollar (intra-day) and sustained pumping of funds by DIIs also supported the recovery.
Tracking positive Asian cues and building-up of bets following the beginning of the March derivatives series, the 30-stock index opened positive at 33,832 and rallied to regain the key 34,000-mark.
The Sensex hit the session's high of 34,167.60, but finally, the gauge settled higher by 322.65 points, or 0.95 percent, at 34,142.15, a level last seen on 15 February.
The index had shed 25.36 points in the previous session.
The broader NSE Nifty also stayed in the positive zone and touched a high of 10,499.10 before closing 108.35 points, or 1.04 percent, higher at 10,491.05.
For the week, the Sensex recorded 131.39 points, or 0.38 percent; while Nifty gained 38.75 points, or 0.37 percent.
Stock markets have been under pressure recently amid continued worries about the fallout from a massive Rs 11,400 crore fraud that hit Punjab National Bank, and concerns that the Reserve Bank could soon move to raise interest rates to check accelerating inflation.
BSE MidCap rose by 323.16 points or 1.28 percent to end at 25,489.70 while BSE SmallCap gained 252.82 points to rise by 0.91 percent to 28,108.92
Sensex went up by 514.34 points to end at 59,005.27 while Nifty ended at 17,562.00 after a gain of 165.10 points.
Sensex fell by 524.96 points to end at 58,490.93 while Nifty ended at a loss of 188.25 points at 17,396.90.