Mumbai: The benchmark BSE Sensex on May 22 closed 148 points up at 27,957.50 after briefly staying above the psychological 28K-level on better-than-estimated corporate earnings and firm Asian cues. Similarly, the broader 50-issue CNX Nifty rallied to a high of 8,489.55, just ten points shy from 8,500-mark, before settling at 8,458.95. IT, pharma, capital goods, refinery and tech counters attracted heavy buying while shares of consumer durable, banking, realty and metal sectors witnessed profit-booking.
The 30-share barometer moved in a range of 28,071.16 and 27,828.61 before ending at 27,957.50 - a level not seen since April 17, 2015 when it had settled at 28,442.10 - showing a rise of 148.15 points or 0.53 per cent. HDFC was the top gainer from the 30-share Sensex pack with a rise of 2.51 per cent while TCS came in second with a surge of 2.42 per cent.
Shares of banking giant SBI reacted downwards after initial smart gains on profit-booking despite the lender reporting better-than-expected fourth quarter earnings. SBI today reported 23 per cent jump in standalone net profit for the fourth quarter ended March 2015 at Rs 3,742.02 crore on improvement in asset quality. Meanwhile, on a weekly basis, the Sensex shot up by 633.80 points, or 2.32 per cent, completing three weeks of gaining streak.
