ADVERTISEMENT
Sensex Rallies Over 200 Points; Economic Survey in Focus
27 Feb 2015, 09:45 AM IST 
The Sensex opened higher on the first day of March series after yesterday's sell off on the back of resumed buying.
Nifty regained its important psychological level of 8,700 supported by gains in heavyweights stocks like Tata Power, Larsen & Toubro and HDFC Bank.
Meanwhile, global equities dipped on Thursday as investor enthusiasm was dampened by a pullback in oil prices related to rising inventories, while the dollar rose as economic data drove expectations that the Federal Reserve will raise interest rates.
Back home, investors will take cues from the Economic Survey for the year 2014-15 which will be presented in the Parliament later in the day.
Analysts say today's gap up opening is due to the heavy sell-off that had come on the back of F&O expiry on Thursday as traders squared off most of their leveraged position ahead of the crucial Union Budget tomorrow.
Buying was visible across the board. Capital goods stocks were in high demand after Railway Minister Suresh Prabhu reassured of investment in Railways. This move can have a direct impact on the order books of the infrastructure companies that undertake these orders.
Auto, metal and banking indices were also up around 1 per cent each.
The broader markets were in line with the benchmark indices. The BSE mid-cap and small-cap indices jumped over 0.05 per cent each.
From the Nifty basket, Jindal Steel was the top gainer, the stock advanced 4 per cent to Rs 192. Tata Power, Larsen & Toubro, Coal India, Lupin, HDFC Bank, NMDC and ACC were also trading higher by over 1.5 per cent each.
At 9:40 A.M., the Sensex was up 158 points at 28,904 and the 50-share Nifty advanced 55 points to 8,739.
(With inputs from Reuters)