Sensex, Nifty gain over 1%; auto, durables stocks surge

Sensex, Nifty gain over 1%; auto, durables stocks surge

The 30-share Sensex was trading higher by 190.36 points, or 0.57 percent, at 33,139.57, with all sectoral indices in the green, led by consumer durables, bank, metal and auto.

Dalal Street saw investors hunting for bargains in recently-battered bank, auto and metal stocks, that came under the weather in the previous session on the back of the central bank's decision to hold repo rates in its sixth bi-monthly monetary policy meeting.

Trading mood was also impacted as Fitch Ratings yesterday cut the country's GDP growth forecast for the current fiscal to 6.7% from the earlier projected 6.9 per cent.

However, value-buying in several heavyweights towards the fag-end trimmed the losses, with the index finishing at 32,802.44, down 67.28 points or 0.20%.

More news: LG V30+ enters the UAE market

The top losers were Bharti Infratel which feel over 2 percent followed by Coal India, Bajaj Finance, UPL and Yes Bank.

Brokers said unabated buying by retail and domestic institutional investors and a firm trend in other Asian markets influenced sentiment here. SBI, ICICI Bank, Axis Bank, HDFC Bank, Bank of Baroda and Yes Bank fell by up to 1.44 percent. Reserve Bank of India Governor Urjit Patel said on Wednesday the government would "in the coming days" detail how it plans to inject an announced $32 billion into state-run lenders, which was announced in October. Here are the key highlights, which will affect the market today.

"Markets will now look out for the Gujarat election outcome". It has slipped 4.7 percent from a 10-year peak hit on November 23 as investors booked profits after robust gains this year. Australian stocks put on 0.3 percent while MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.6 per cent. The broader markets remained under pressure, with the small-cap index falling by 0.52% and mid-cap 0.09%.

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