Markets closed higher as the Rupee turnaround from its yesterdays low, after the RBI (Reserve Bank of India) choose to provide dollars directly to the oil companies. The S&P BSE Sensex surged up by 404.89 points or 2.25% at 18,401.04 whereas the CNX Nifty climbed up by 124.05 points or 2.35% to close at 5,409.05.
Among the sectoral indices, Oil & Gas, Capital Goods, Metal, Auto and FMCG indices rose between 2-3%, Healthcare, Power, Bankex, PSU and Consumar Durables gaining between 1-2% respectively. In the broader markets, the Mid-cap index gained up by 1.5% while the Small-cap index advanced up by 0.7%.
Major index gainers were, Sesa Goa, Hindalco Industries and Jindal Steel Power Limited gained between 2-13.50%, HDFC, HDFC Bank and ICICI Bank gained 1.3-5.7%. Reliance Industries gaining by 4.20%, ONGC, Gail (India), HUL and ITC rose 2% each, Tata Motors, Mahindra & Mahindra, Maruti Suzuki, Hero MotoCorp and Bajaj Auto advanced between 1-2.60%. Other notable gainers include Bharti Airtel, Dr Reddys Lab, NTPC, BHEL and L&T advancing up between 2-4%.
Major index losers were, Coal India declining by 1.60% followed by State Bank of India, Tata Power, Tata Steel Limited, Infosys and Cipla Ltd slipping between 0.30-0.60%.
The Rupee lodged its biggest single-day gain ever by raising 225 paise or 2.35% to end at 66.55/56 against dollar, after RBI (Reserve Bank of India) announced measures to curb the Rupee fall through dollar flows on late Wednesday.
The overall market breadth was firm positive with 1,275 shares advancing while 989 shares declining.
