BSE Sensex gains 206 points, closes near week's high as Indian rupee recovers, BHEL shares up 8%

Aug 23 2013, 17:25 IST
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Beaten down bank shares such as ICICI Bank gained on value buying. AP Beaten down bank shares such as ICICI Bank gained on value buying. AP
SummaryBSE Sensex gained 1.12 pct and NSE Nifty ended up 1.11 pct.

Rising for the second day, BSE Sensex today gained over 206 points to close at nearly one-week high on sustained value buying in refinery, banking and auto stocks after the Indian rupee appreciated after six days of losses.

Major shares that gained on Sensex in today's trade were Bharat Heavy Electricals Ltd (BHEL), Tata Motors, HDFC Bank, ICICI Bank, State Bank of India (SBI), HDFC Ltd, Coal India, Jindal Steel, Tata Steel, Sterlite Industries, Maruti Suzuki India, Mahindra & Mahindra Ltd and Sun Pharmaceuticals Industries.

The 30-share S&P BSE benchmark index Sensex, which had surged 408 points in the previous session, rose further by 206.50 points, or 1.13 per cent to end at 18,519.44 -- the highest closing since August 16 (18,598.18).

HSBC downgrades Indian shares to 'neutral'

Brokers said the stock market sentiment improved as the battered rupee rebounded from all-time low levels of 65.56 to 64.12 per dollar after the government and RBI's assurances.

The broad-based NSE Nifty rose by 63.30 points, or 1.17 per cent to 5,471.75. Also, SX40 index, the flagship index of MCX-SX, closed up at 10,960.73, higher by 142.85 points or 1.32 per cent.

In the Sensex pack, Reliance Industries surged 1.64 per cent to Rs 819.05 after the company and its partner BP plc announced a new gas condensate discovery off the east coast in the Cauvery basin.

Private lenders like HDFC Bank and ICICI Bank saw heavy buying as investors judged recent losses as excessive.

Led by over 8 per cent surge in BHEL, the capital goods sector index gained the most rising 2.04 per cent to 7,235.68.

It was followed by banking index by 1.91 per cent to 10,791.32. Oil and Gas sector index rose by 1.59 per cent to 8,191.04 and the auto index by 1.51 per cent to 10,248.18.

Indian shares gain for a second day as rupee recovers; FII flows watched

(Reuters) BSE Sensex rose more than 1 percent on Friday to mark their second consecutive day of gains, with beaten down bank shares such as ICICI Bank gaining on value buying, as Indian rupee recovered after six straight

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