Sensex Rises 245 Points, Nifty Ends Above 8,250; Tata Motors Rallies 4%

Sensex Rises 245 Points, Nifty Ends Above 8,250; Tata Motors Rallies 4%

Tata Motors shares were the top gainer among Nifty50 stocks.

BSE Sensex and Nifty ended higher on Thursday tracking higher global markets. The Sensex rose over 200 points while Nifty closed above its crucial psychological level of 8,250. 

All the sectoral indices barring IT on the BSE ended higher with metal, banking and auto stocks leading the gainers.

Amar Singh, head advisory at Angel Broking, says that Nifty is going through a phase of consolidation and could face some pressure at 8,270-8,300 levels.

Among the Nifty50 stocks, Tata Motors and Tata Motors DVR were among the top gainers, both the stocks rose 4 per cent on the back of strong Jaguar Land Rover sales in the US which rose 30 per cent.

Yes Bank, Adani Ports, Maruti Suzuki, Bosch and ICICI Bank were also among the gainers.

Asian stocks rose for an eighth consecutive day on Thursday, buoyed by gains on Wall Street and an overnight bounce in oil prices that bolstered energy shares.

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Also, underpinning the cautious streak of optimism has been a steady stream of upbeat factory and service sector surveys out of the US, Europe and Asia this week, prompting some banks to raise their global growth forecasts for 2017.

The broader markets also witnessed good buying interest as mid-cap and small-cap indices rose over a per cent each.

The overall market breadth was positive as 1,943 shares ended higher while 900 closed lower on the BSE.

The Sensex finally ended 245 points higher at 26,878 and Nifty advanced 83 points to settles at 8,274.