After a brief pause on Wednesday, the S&P BSE benchmark sensex continued its upward march by jumping 166 points to 27,895.97 due to short-covering from opreators in view of the last day of the futures and options June contract on Thursday.
Prime Minister Narendra Modi launched smart cities, housing for all and urban rejuvenation schemes for Asia’s third largest economy also boosted the market sentiment.
Shares of Capital Goods, Realty, Power, Auto and Refinery sectors were the major gainers of the day.
The sensex resumed lower at 27,660.22 and dropped further to 27,635.76 on initial selling pressure. However, it recovered afterwards to 27,968.75 on fresh buying before ending at 1-month high at 27,895.97, showing a gain of 166.30 points of 0.60 per cent.
The sensex had last ended at 27,957.50 on May 22, 2015.
The CNX Nifty also firmed up by 37.15 points of 0.44 per cent to finish at 8,398.00.
In overseas stock markets, Asian stocks ended lower tracking a negative lead from Wall Street after negotiations between Greece and its creditors hit a stalemate overnight.
Key indices in China, Japan, Hong Kong, Singapore and South Korea dropped by 0.02 cpt to 3.46 pct while Taiwan’s weighted Average finsihed higher by 0.84 pct.
European markets were trading lower as key indices like France, Germany and UK moved down by 0.01 pct to 0.21 pct.
In New York market, US stocks closed lower yesterday, as the outcome of negotiations between Greece and its international creditors remained still uncertain, prompting investors to drop riskier assets like equities.