Sensex surges; BSE Bank, Metal indices up over 200 points
12 Apr 2012
The BSE Sensex was trading near day's high again due to support by banks, capital goods, FMCG, metals and auto stocks. The support was majorly led by banks ahead of the RBI monetary policy, which schedule to be announced on April 17.
The BSE Bankex shot up 222 points or 1.9% to 12,011.22 as country's largest lender State Bank of India surged nearly 3% while private sector lender ICICI Bank rallied 2%. Axis Bank was up 3.4% while rivals HDFC Bank and Kotak Mahindra Bank gained 1-1.8%.
Even midcap banks like Vijaya Bank, Indian Bank, IDBI Bank, Allahabad Bank, Andhra Bank and Syndicate Bank were up 1-2.6%.
The BSE benchmark jumped 167 points or 1% to 17,366.61, supported by 24 components. Meanwhile, the NSE benchmark climbed 55 points to 5,281.50. European markets extended gains - Germany's DAX rose 0.8% and France's CAC was up 0.4% while Britain's FTSE was flat.
Major largecaps like Reliance Industries, ITC, L&T, HUL and BHEL gained 1-2%.
Shares of Jindal Steel topped the buying list, rising 4%. Hindalco, Hero Motocorp, Sterlite Industries, Maruti Suzuki and Axis Bank gained 2.5-3%. The BSE Metal Index jumped 234 points or 2% to 10,955.
