MUMBAI: The stock market benchmark Sensex gained 184 points to close above the 17,000-points level as investors, foreign funds in particular, between their money on Indian stocks amid a smart rally in other markets.
The Bombay Stock Exchange 30-share barometer settled the day at more than a three-week high of 17,032.51, netting a rise of 183.68 points or 1.09% over its last close.
Asian and European markets rallied smartly as dollar weakened against a basket of currencies.
Shanghai Composite gained 2.74%, Strait Times 2.08%, Hang Seng 1.73%, Taiwan weighted 1.66% and Kospi 1.30%. European markets were trading firm in their early trade this afternoon.
The market sentiment was also boosted by sustained capital inflow into equity. Foreign Institutional Investors bought shares worth $774.2 million so far in November, taking the total purchases to $14.8 billion in the current calendar year.
The market, however, came under pressure at the day's higher levels on concerns about rising inflation which stood at 1.34% for October.
Auto stocks attracted continued demand from investors as the sector registered robust sales growth in October.
The Bombay Stock Exchange 30-share barometer settled the day at more than a three-week high of 17,032.51, netting a rise of 183.68 points or 1.09% over its last close.
Asian and European markets rallied smartly as dollar weakened against a basket of currencies.
Shanghai Composite gained 2.74%, Strait Times 2.08%, Hang Seng 1.73%, Taiwan weighted 1.66% and Kospi 1.30%. European markets were trading firm in their early trade this afternoon.
The market sentiment was also boosted by sustained capital inflow into equity. Foreign Institutional Investors bought shares worth $774.2 million so far in November, taking the total purchases to $14.8 billion in the current calendar year.
The market, however, came under pressure at the day's higher levels on concerns about rising inflation which stood at 1.34% for October.
Auto stocks attracted continued demand from investors as the sector registered robust sales growth in October.
POSTED BY:
PREETI KUMARI
PGDM III SEM
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