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Sensex zooms 611 points on global rally

Tuesday, March 13, 2018

The BSE Sensex yesterday spurted by 611 points its biggest single-day gain in two years to finish at one-week high of 33,917.94 following a global relief rally as trade war fears abated on growing optimism over the US economy.

Investors lapped up recently battered metal, oil & gas, FMCG, banking, power, infrastructure, IT, auto, and capital goods stocks amid fresh capital inflows by foreign funds ahead of key IIP and inflation data to be released after market hours today, brokers said. After opening on a strong footing, the Sensex advanced to hit a high of 33,962.48 on the back of fresh buying by domestic funds and retail investors.

 However, later it declined to touch as the day's low of 33,468.16 before closing at 33,917.94, up by 610.55 points, or 1.83%. The index posted its biggest single-day gain since March 1, 2016, when it had jumped 777.35.

The broader Nifty finished at 10,421.40, up 194.55 points, or 1.90%. It touched a high of 10,433.65 points in day trade.

Brokers said fresh buying by investors ahead of inflation data to be released after market hours yesterday improved the market sentiment.

On a net basis, foreign portfolio investors (FPIs) bought shares worth Rs 550.36 crore while domestic institutional investors (DIIs) sold shares worth Rs 65.00 cr on Friday, provisional data showed.

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