A buying spree by domestic institutional investors and retail investors is also negating the impact of foreign fund outflows. This trend is likely to continue in the short run and markets are likely to remain strong, said an analyst.
The NSE Nifty 50 index gained 211.50 points or 1.44 per cent to end at 14,864.55, while the benchmark S&P BSE Sensex rose 789.70 points or 1.61 per cent to settle at 49,733.84.
“Superior Q4 results and vaccine optimism buoyed domestic markets to trade on a positive footing for the third consecutive day ahead of the Fed interest rate decision. Strong buying interest was seen in banking and auto stocks with enhanced business prospects which are likely to be maintained,” said Vinod Nair, Head of Research at Geojit Financial Services.
Investors’ wealth grew by Rs 2.1 lakh crore at the end of the day as the total market capitalisation of BSE-listed companies rose to Rs 208.68 lakh crore.
Market at a glance:
- Bajaj Finance Q4 numbers surprise analysts; stock climbs 8%
- Axis Bank Q4 show lifts appetite for other private banks
- Anupam Rasayan gains 2% after company bags Rs 1,100 crore order
- Britannia drops 2% after Q4 profit falls marginally
- Volatility gauge India VIX continues to fall, down 2.17%
