MUMBAI: Dalal Street discounted possible repercussions of the conflict in West Asia as strong buying by domestic players gave the sensex a 567-point push to close at 66,079 on Tuesday. Although foreign investors remained net sellers, the sensex’s gain during the day, most of which came in the later half of the session, was attributed to short-covering by speculators. Fall in crude oil prices also helped investor sentiment, market players said.
Stocks from across sectors contributed to the day’s gain in the sensex with ICICI Bank, Infosys and HDFC Bank contributing the most.Foreign investors were net sellers at a little over Rs 1,000 crore while domestic institutions were net buyers at Rs 1,963 crore, BSE data showed.
Brokers and dealers expect the sensex to build on Tuesday’s gains on Wednesday, as falling US treasury bill yields are expected to boost investor sentiment further. The rupee ended nearly unchanged at 83.26 to the dollar – compared to Monday’s 83.27. And in the government bond market, the benchmark 10-year yield marginally softened to close at 7.35% from 7.38% the previous day.