Market jumps on positive global cues: Tata Steel, L&T gain

share market up Sensex & Nifty advanced on broad-based buying support as positive signals from global stock markets elevated investors outlook. Sustained foreign fund inflows and gains in most of Asian markets kept up fuelled sentiments.  The BSE Sensex rose 176.26 points or 0.52% to 33,969.64, The NSE Nifty-50 index rose 61.60 points or 0.59% to 10,504.80 on closing.

Sectoral indices led by metal, consumer durables capital goods, PSU bank were leading the rally. With strong market breadth floating on market, there were 1,907 advances, against 1003 declines, while 433 shares were unchanged.

Tata Steel, Dr Reddy’s and L&T gained the most on Sensex and Nifty, while Tata Motors, Tata Power and Axis Bank were the top losers.

Metal shares picked up momentum. Shares of Jindal Steel & Power Steel Authority of India, Tata Steel, JSW Steel, NMDC National Aluminium Company Bhushan Steel, Hindustan Zinc, Vedanta and Hindalco Industries edged higher in different tunes.

Meantime, copper price edged higher in the global commodities markets. High Grade Copper for March 2018 delivery was presently up 0.6 percent at USD 3.279 per pound on the COMEX.