Sensex Gains 260 Pts On Heavy Buying

Sensex Gains 260 Pts On Heavy BuyingIt has been a splendid session for stocks thus far. Indian equities have moved up sharply due to continued buying action witnessed across board.

Both Sensex and Nifty have recorded thumping gains. Realty, consumer durables, IT, power and oil & gas gained a lot.

BSE Midcap and Smallcap gained 1.67% and 1.70% respectively.

Today, the 30-share index, BSE Sensex opened positively at 10,428.11, up 205.02 points, as against its previous closure in which it gained 247.74 points.

At 11:05 a.m., the BSE Sensex gained 260.26 points at 10,483.35, after hitting a high of 10,483.35 and a low of 10,250.23.

On the other hand, the broad based Nifty stood at 3,193.90, up 71.10 points, after touching a high of 3,199.25 and a low of 3,117.35.

The overall breadth of the market was positive as it saw 1,256 progressions as against 681 declinations.

The major gainers in the 30-share index included Jaiprakash Associates (7.90%), Sterlite Industries (India) (5.75%), Reliance Communications (5.28%), ICICI Bank (4.48%), DLF (4.20%), and Tata Steel (3.96%).

On the other hand, Mahindra & Mahindra (5.88%), Bharti Airtel (2.69%), Grasim Industries (1.51%), ITC (0.73%), and ACC (0.29%) were the major losers in the Sensex.