Sensex jumps 958 points, realty stocks surge

Mumbai (Maharashtra) [India]: Frenzied broad-based buying led equity benchmark indices to scale new highs on Thursday amid positive global cues.
The US Federal Reserve’s comment that it may start tapering as soon as November failed to perturb domestic market sentiment, suggesting a strong bullish undercurrent. Besides, receding concerns on Evengrande crisis also supported the D-Street mood.
At the closing bell, the BSE S&P Sensex was up by 958 points or 1.63 per cent at 59,885 while the Nifty 50 gained by 276 points or 1.57 per cent to 17,823.
All sectoral indices were in the green zone with Nifty realty advancing by 8.4 per cent, financial service by 2.3 per cent, private bank by 2.2 per cent and metal by 1.5 per cent.
Among stocks, Godrej Properties jumped 12.6 per cent to Rs 2,195.95 per share while DLF Ltd moved up by 8.9 per cent to Rs 401.95.
Private lenders witnessed handsome gains with Axis Bank advancing by 3.1 per cent, IndusInd Bank by 2.7 per cent, HDFC Bank by 2.5 per cent and Kotak Mahindra Bank by 1.9 per cent.
However, the laggards included Nestle India, Britannia, Hindustan Lever, ITC, Dr Reddy’s, Sun Pharma, JSW Steel and HDFC Life.
Meanwhile, Asian shares were mixed despite some positive news from struggling developer China Evergrande Group.
Hong Kong shares climbed 1.19 per cent but Japan’s Nikkei was down 0.67 per cent while South Korea’s Kospi fell 0.41 per cent.

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