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Rediff.com  » Business » Sensex kicks off new fiscal on high note; auto stocks rally

Sensex kicks off new fiscal on high note; auto stocks rally

Source: PTI
April 02, 2018 17:25 IST
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The NSE 50-share Nifty also spurted by 98.10 points, or 0.97 per cent, to end at 10,211.80

Domestic stock market started the new fiscal on a positive note on Monday, with the flagship Sensex rising about 287 points to end above the key 33,000-level as index heavyweights RIL, Tata Motors and Maruti led the rally.

 

Similarly, the broader NSE Nifty also managed to close above the 10,200-mark.

The bourses reopened on Monday after a long weekend following holidays for Mahavir Jayanti and Good Friday on last Thursday and Friday, respectively.

Besides, a positive start in the April derivative series boosted investor sentiments as they indulged in creating fresh positions, brokers said.

Sentiments also got a boost after several auto makers posted better-than-expected sales data for March, they said.

However, other Asian markets turned weak after initial firmness due to profit-taking in late trade and any absence of cues form European markets that were closed for Easter.

The Sensex after a gap-up opening to regain the 33,000-mark advanced to hit a high of 33,289.34 before terminating at 33,255.36, showing a hefty gain of 286.68 points, or 0.87 per cent.

The gauge had lost 205.71 points on the last session of FY18 on Wednesday.

The NSE 50-share Nifty also spurted by 98.10 points, or 0.97 per cent, to end at 10,211.80 after moving in a range of 10,220.10 and 10,127.75.

Photograph: Shailesh Andrade/Reuters

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