Markets continue to rally, Sensex regains 33000-mark

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The markets opened the Thursday's session on a positive note with key benchmark indices extending intra-day gains.

Major gainers on the Nifty were: UPL (+1.81%), Tata Motors (+1.79%), Bharti Airtel (+1.42%), Adani Ports (+1.31%) and IndusInd Bank (+1.31%). The gauge had rallied 352.03 points on Thursday. The broader markets remained under pressure, with the small-cap index falling by 0.52% and mid-cap 0.09%. Participants sensed value-buying opportunities after the equities' recent lacklustre run, making stock valuations attractive, according to market participants.

On the NSE market breadth, the Nifty50 provisionally closed (at 3.30 p.m.) higher by 122.60 points or 1.22 per cent at 10,166.70 points.

On Friday, the benchmark indices were dragged lower by growing concerns over the country's widening fiscal deficit, coupled with negative global cues and profit booking in auto, metal and oil and gas stocks.

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The six-member Monetary Policy Committee (MPC), headed by Reserve Bank of India Governor Urjit Patel, in its bi-monthly monetary policy review kept repo rate unchanged at 6 percent and reverse repo at 5.75 percent. The 30-share Sensex was trading higher by 190.36 points, or 0.57 percent, at 33,139.57, with all sectoral indices in the green, led by consumer durables, bank, metal and auto.

Overseas, the Asian markets saw the shares of most of the companies decline, since investors across the globe have an eye on the final tax legislation in the USA, where policy uncertainty kept sentiment in check.

Indian shares rose more than 1 percent on Wednesday, recovering from earlier.

Japan's Nikkei was up 1.22 percent while Hong Kong's Hang Seng rose 0.57 percent in early trade today. Paris CAC fell 0.29% and Frankfurt's DAX shed 0.13%. London's Financial Times Stock Exchange too was up 0.24%.

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