Sensex Surges Another 364 Points; Metal Stocks Lead Charge

Posted By:

Benchmark indices ended the day strongly for the third session in a row, as heavy cash buying by Foreign Portfolio Investors, fuelled a rally on the bourses.

The Sensex ended the day higher by a whopping 364 points, while the Nifty up by 106 points in trade.

The rally was despite the fact that the services PMI showed a decline for the month of Feb. Leading the set of gainers were metal stocks, which saw a solid rally in trade.
Banking stocks, which have thus far led the near 1500 points rally on the Sensex, had a mixed day.

Sensex Surges Another 364  Points; Metal Stocks Lead Charge
While ICICI Bank and Federal Bank dropped, Axis Bank and State Bank of India ended the day higher. Hopes of an interest rate cut, have been fuelling these stocks in the last few days.

Metal stocks saw the biggest gains in trade, with Tata Steel and Vedanta among the big gainers. Stocks that lost ground in trade were Lupin, NTPC and Maruti Suzuki.

Tata Motors too surged after reports that the JLR sales had spurted in the Month of Feb. Most of the auto shares have traded mixed since the start of the month.

Midcap stocks also saw some good buying interest with stocks like Just Dial and Hindustan Zinc among the big gainers in trade.
Meanwhile, markets across Asia ended the day higher, while most of Europe was trading with gains.

GoodReturns.in

Read more about: sensex, nifty, vedanta
Story first published: Thursday, March 3, 2016, 14:25 [IST]
Please Wait while comments are loading...
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

Thousands of Goodreturn readers receive our evening newsletter.
Have you subscribed?