Sensex Extends Gains For The 2nd Straight Day, Up 184 Points

The S&P BSE benchmark Sensex extended its gains for the second straight day, firming up by another 184 points to close at 28,208.62 in view of persistent buying on hopes of passing of GST bill in Rajya Sabha in the next week coupled with good foreign capital inflows.

Shares of consumer durable, FMCG, realty, auto, telecom , utilities and power sectors fimed up on good support.

The GST bill, which has been approved by the Lok Sabha is pending in the Rajya Sabha because of opposition to the bill in its current form by the Congress party. A constitutional amendment bill requires at least 50 per cent attendance and support of two-third of those present and voting in the house.

Foreign funds bought shares worth a net Rs 404.69 crore yesterday, as per provisional data released by the stock exchanges.

Market sentiment was positive after the US Federal Reserve has opted to keep interest rates at ultra-low level after the conclusion of a two-day monetary policy meeting. The ultra-loose monetary policy in the US has encouraged heavy investment in higher-yielding emerging markets.

The Sensex resumed higher at 28,108.78 and hovered in a range of 28,064.90 and 28,240.20 before ending at fresh 11- month high at 28,208.62 the level not seen since Aug 7, 2015, showing a gain of 184.29 points or 0.66 per cent.

The sensex has gained by 231.10 points or 0.83 per cent in two days.

The NSE 50-share Nifty moved up by another 50.50 points or 0.59 per cent to 8,666.30.

(PTI)