Sensex surges 248 points to end at new high of 27,346; Nifty gains 79 points…


Led by the recent economic reforms announced by the government, the benchmark BSE Sensex surged 248.16 points to end at a new closing peak of 27,346.33 and the NSE index Nifty rose 78.75 points at 8,169.20.
Domestic sentiment was buoyed on increased buying by investors as the recent economic reforms have instilled confidence that the country can better withstand potential rate hikes in the US.

Sectoral indices
All BSE sectoral indices ended in the green. Among them, realty index was the star-performer and was up 3.44 per cent, followed by IT 2.04 per cent, TECk 1.77 per cent and oil & gas 1.65 per cent.

Gainers, losers
Reliance, TCS, Hindalco, Infosys and GAIL were the top five gainers among 30-share Sensex constituents, while the top five losers were SSLT, M&M, Cipla, Tata Power and Hero MotoCorp.

FDI rules relaxed
Among the recent economic reforms, the Government had yesterday relaxed FDI rules in the construction sector by reducing the minimum built-up area as well as capital requirement and easing the exit norms.

Sharess of realty companies, particularly those with high debt, such as Unitech, DLF and Puravankara climbed after the announcement.

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