Sensex Jumps 242 Points to 33191, Nifty at 10243


Sensex Jumps 242 Points to 33191, Nifty at 10243

At 11:46 AM, the S&P BSE Sensex was trading at 33,236, up 287 points, while the broader Nifty50 Index was ruling at 10,259, up 93 points.

On Friday, the benchmark indices were dragged lower by growing concerns over the country's widening fiscal deficit, coupled with negative global cues and profit booking in auto, metal and oil and gas stocks.

Other companies that stood among the pack of gainers on the Sensex include Asian Paints, Maruti Suzuki, Tata Steel, Bajaj Auto, NTPC, Larsen and Toubro, ICICI Bank, Hindustan Unilever, State Bank of India, Tata Motors, Lupin, Adani Ports, Hero MotoCorp, Power Grid and Infosys, rising up to 3.29%. The laggards included Coal India (-0.64%), TCS (-0.52%), Cipla (-0.50%), Wipro (-0.34%) and Sun Pharma (-0.26%). DIIs had bought shares worth Rs 995.11 crore, while foreign funds sold shares to the tune of Rs 1,217.92 crore yesterday, the provisional exchange data showed.

European markets too saw a weak trend. The stock ended down 2.05 per cent or Rs 4.30 at Rs 205.45.

Shares of Biocon surged 15% after the biotechnology major said it has received regulatory approval to market a biosimilar of cancer drug Herceptin in the US. It has slipped 4.7 percent from a 10-year peak hit on November 23 as investors booked profits after robust gains this year.

The markets on Friday took off from the launchpad of yesterday's positive sentiment as Sensex gained nearly 200 points in initial trade. Shanghai Composite, however, shed 0.08 per cent.

U.S. stocks closed higher yesterday, with the S&P 500 snapping a four-session losing streak on the back of gains in technology, industrials and materials sectors.