Markets log gains for 2nd day on fresh foreign fund inflows

DURING THE DAY, SENSEX JUMPED 912.88 PTS OR 1.12% TO 81,911.13

- OUR CORRESPONDENT

MUMBAI: Benchmark equity indices Sensex and Nifty rallied for the second day on the trot on Thursday, driven by buying in blue-chip stocks ICICI Bank and Reliance Industries amid fresh foreign capital inflows.

Besides, expectations of another interest rate cut in the RBI policy on Friday supported market sentiment, traders said.

After gaining over 900 points in the session, the 30-share BSE Sensex succumbed to profit booking to close 443.79 points or 0.55 per cent lower at 81,442.04. During the day, it jumped 912.88 points or 1.12 per cent to 81,911.13.

As many as 2,257 stocks advanced while 1,725 declined and 147 remained unchanged on the BSE.

The NSE Nifty rose 130.70 points or 0.53 per cent to 24,750.90.

"Though profit-booking remains evident at higher levels, the benchmark indices are attempting to recover their momentum amid consolidation. With a weakening dollar index and volatile US bond yields, FIIs are turning net buyers again after the recent selloffs in anticipation of final trade negotiations.