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March 19, Monday 2018 4:24 PM       

       HEADLINES: Non-priority ration cards to receive rice at subsidised rate                                              60-year old woman found hacked to death                                              There’s discrepancy in complaint filed with minister against me: Sabarinathan MLA                                              India-WI ODI shifted from Greenfield to Kochi                                              Railway track broken, Happa Express saved                                              Raj Thackeray calls for 'Modi-mukt Bharat' by 2019                                              Nirav Modi's assets seized by ED                                              LS, RS disrupted, protests continue                                              Putin wins another six years at Russia's helm in landslide victory                                              Russia dismisses ex-spy poisoning claims as 'nonsense'                                              PyeongChang Paralympics to conclude Sunday                                              Nidahas Trophy: Upbeat India to take on B'desh in final                                              Nidahas Trophy: Rahman helps B’desh post 166/8 against India                                              Aussies beat Indian eves by 97 runs to clean sweep series                                              Roger Federer makes it to Indian Wells finals                                              Kaumudi Facebook
       BUSINESS Next Article: OLX witnesses three-fold revenue growth from pre-owned cars  
       Sensex spurts 318 pts on value-buying
         Posted on :16:39:24 Mar 8, 2018
       Last edited on:16:39:24 Mar 8, 2018
         Tags: Sensex, 318 points up, value-buying

MUMBAI: Reversing a six-session slide, benchmark Sensex zoomed 318 points to end at 33,351 Thursday as participants accumulated recently beaten down stocks amid positive global cues.

Markets benefited from value buying in beaten-down stocks and a firm trend in overseas bourses, boosted by easing fears of a global trade war as the White House signalled it would water down plans for contentious metal tariffs, brokers said.

Stocks of state-run lenders staged a rebound in late afternoon trade on short-covering, they added.

The 30-share Sensex stayed in the positive zone throughout the session on unabated buying by domestic institutional as well as retail investors and hit a high of 33,439.97. It finally settled at 33,351.57, showing a robust gain of 318.48 points, or 0.96 per cent.

This is its biggest single-day gain since February 23, when it had jumped 322.65 points.

The index had lost 1,412.66 points in the previous six sessions on negative domestic as well as global cues.

The broader NSE Nifty reclaimed the key 10,200-mark and touched a high of 10,270.35, before finally settling at 10,242.65, showing a sizeable gain of 88.45 points, or 0.87 per cent. Intra-day, it hit a low of 10,146.40.

Meanwhile, domestic institutional investors (DIIs) had net bought shares worth Rs. 409.34 crore, while foreign portfolio investors (FPIs) sold shares worth Rs. 719.78 crore yesterday, as per provisional data.

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