Thursday, 8 December 2016

Sensex gains 457pts on short covering, weak dollar; metals shine

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Equity benchmarks staged spectacular performance on Thursday with the Sensex rising nearly 500 points intraday on short covering after yesterday's unexpected RBI action. Withdrawal of incremental CRR hike by the central bank, bargain hunting, weakness in dollar (& positive global cues) ahead of European Central Bank meeting due later today and renewed FIIs buying interest also boosted the market sentiment. The market ended at almost one-month closing high. The 30-share BSE Sensex shot up 457.41 points or 1.74 percent to 26694.28 and the Nifty climbed 144.80 points or 1.79 percent to 8246.85, outperforming broader markets.

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