After a gap of 100 days Sensex on Friday closed above 20,000-mark on robust buying in auto, consumer durables, FMCG and banking stocks as surge in IIP raised hopes of economic growth crossing the 6 per cent mark in the current fiscal.
The BSE 30-share index initially moved in a narrow range but later bounced to a high of 20,119.14 on rise in IIP data. It finally concluded at over three-and-a-half-month high of 20,082.62, a net rise of 143.58 points or 0.72 per cent.
“Markets have been moving up at a fast pace in the past few weeks on the back of supportive global markets, consistent FII flows and in-line / better-than-expected quarterly results,” said Dipen Shah, Head of Private Client Group Research, Kotak Securities.
Similarly, Nifty also rose by 44.60 points, or 0.74 per cent, to end at 2013-closing high of 6,094.75. The MCX-SX flagship index, SX40 closed up by 80.66 points, or 0.68 per cent, at 11,874.70.
Smart rise in key heavyweights like ITC, HDFC Bank, Tata Motors, ICICI Bank, M&M, Maruti Suzuki and ONGC mainly supported the surge in the Sensex. Sectorally, auto, consumer durable, FMCG and banking stocks attracted good buying support while shares from power and metal segments suffered losses.