Mumbai, June 15: The benchmark Sensex on Friday surged by 272 points to a six-week high of 16,949.83 points on strong hopes that central banks worldwide, including RBI, are likely take concerted steps to contain damages in case Greece exits Eurozone.
Interest rate sensitive auto, banking and realty stocks drove the key index up by 271.95 points or 1.63 per cent to log the second straight week of gains.
The market received further support on firming trend in the Asian region and higher opening in European indices that tracked a 1.2 per cent rise in American stocks on Thursday.
“Markets ended the day surprisingly strong... there were reports that central banks in the developed world are ready to help contain any negative fallout of Greek elections,” said Dipen Shah, Head of Fundamental Research, Kotak Securities.
The ongoing Eurozone crisis has taken a heavy toll on markets worldwide. Investors have been anxiously awaiting the Greece polls which will be decisive for the country’s future in the Eurozone. Global markets believe a Greece exit would be disastrous for the fragile recovery of the world economy.
In the 30-share Sensex, 27 scrips ended higher led by Tata Motors which rallied 5.75 per cent on Friday after suffering its biggest drop in two weeks on Thursday.
Asian stocks ended mostly higher in choppy trade on Friday after reports central banks of major economies are ready to provide liquidity if needed after crucial elections in Greek on Sunday.
Key benchmark indices in China, Hong Kong, Taiwan, Japan, Indonesia and Singapore rose by 0.01 per cent to 2.26 per cent while South Korea’s Kospi fell by 0.71 per cent.
European stocks headed north in their early trade on Friday.
Key benchmark indices in London, France and Germany were up by 0.72 per cent to 1.52 per cent. An indication of a higher opening in US index futures also boosted the market sentiment.
Out of the 30-share Sensex pack, 27 scrips finished with gains. Major gainers included Tata Motors (5.75 per cent), ICICI Bank (3.11 per cent), Coal India (2.72 per cent), Hindalco (2.7 per cent), Maruti Suzuki (2.7 per cent), M&M (2.54 per cent), HDFC Bank (2.52 per cent), L&T (2.27 per cent), Bharti Airtel (2.15 per cent) and HUL (2.12 per cent).
Sun Pharma (2.05 per cent), NTPC (1.68 per cent), Tata Steel (1.67 per cent), TCS (1.62 per cent), ITC (1.56 per cent), RIL (1.54 per cent), Tata Power (1.52 per cent) and SBI (1.33 per cent) also ended higher.
However, Sterlite fell by 1.57 per cent and Bajaj Auto shed 1.41 per cent.
Among the sectoral indices, the BSE-Auto index shot up by 2.57 per cent, followed by the BSE-Bankex (2.19 per cent), the BSE-Realty (1.78 per cent), the BSE-Capital Goods (1.54 per cent), the BSE-FMCG (1.43 per cent), the BSE-Metal (1.28 per cent), the BSE-Power (1.25 per cent) and the BSE-IT (1.12 per cent).
The market breadth turned positive as 1,525 stocks ended in green while 1,165 stocks finished in red.
The total turnover declined slightly to Rs 1,722.99 crore from Rs 1,772.86 crore on Thursday.
Foreign institutional investors (FIIs) bought shares worth a net Rs 105.08 crore on Thursday as per provisional figures from the stock exchange. (PTI)