Business Standard

Markets end higher on global cues

SBI was the top Sensex gainer, up nearly 2%

Related News

Markets ended higher on Thursday, amid firm global cues, led by index heavyweights Infosys and ITC. The failure of former UPA ally the Trinamool Congress to bring a no-confidence motion against the government in the Lok Sabha today over FDI in retail also helped improve sentiment.

Mamata Banerjee's party moved the motion as soon as Parliament met for the Winter Session but Speaker Meira Kumar disallowed it as it could not muster the required support of 50 members.

The 30-share ended at 18,517 up 57 points or 0.31% and the 50-share ended at 5,628 up by 13 points or 0.23%. The Sensex and the Nifty reached an intra-day high of 18,568 levels and 5,643 mark, respectively.

On the global front, Japan's Nikkei average climbed 1.6% to a 6-1/2-month closing high on Thursday, boosted by gains in automakers and electronics companies on expectations that a sharply weaker yen will boost their earnings.

European shares extended a week-long rally on Thursday as manufacturing surveys in China and the United States boosted confidence over the global economic recovery.

Europe's FTSE Eurofirst 300 index rose 0.2% in early trading to 1,099.31 points, with London's FTSE 100, Paris's CAC-40 and Frankfurt's DAX about 0.3% higher.

Back home, BSE Capital Goods, IT, TECk, FMCG, PSU and Banks indices surged by 1% each. However, BSE Oil & Gas index declined by nearly 0.5%.

In the Sensex pack software exporters Infosys was up over 1.5% while Wipro was up over 1% on the back of a weakening rupee.

Engineering major L&T gained 1.7% after the company said it has received fresh orders worth Rs 2,503 crore.

Among FMCG shares, ITC was up over 1% while Hindustan Unilever gained marginally.

In the banking segment, SBI was the top Sensex gainer, up nearly 2% while HDFC Bank gained 1%.

Other Sensex gainers include Tata Steel, Sterlite, M&M, Hindalco and NTPC, all surging between 1-2% each.

On the losing side, Tata Motors was the top Sensex loser, down over 2%. ICICI Bank, Sun Pharma, RIL and Cipla dipped by 1% each.

Among other shares, Shares of Hindustan Copper and Blue Dart Express have rallied over 10% after initial fall of more than 4% each on back of heavy volumes.
 
Hindustan Copper has soared 11% to end at Rs 266, bouncing back from intra-day low on the BSE. The stock hit 10-month low at Rs 222 in early trades on concerns that the government will offer shares at discount to the market price to lure investors.

The government proposes to divest 37 million equity shares of the face value of Rs 5 each aggregating approximately 4% of the paid up equity share capital of Hindustan Copper on Friday.

Blue Dart Express too, has rallied 20% to end at Rs 2,057 on the BSE. The stock has bounced back 26% from intra-day low of Rs 1,605 DHL Express (Singapore) Pte, the promoter of the company has propose to sell 6.03% of its stake through offer for sale route on Friday.

Shalimar Paints surged 8% after the stock turned ex-stock split today.

Max India dipped 3% after the stock of plastic products maker turn ex-dividend today.

Meanwhile, BSE Midcap index rose by 0.32% whereas BSE Smallcap index closed up by 0.39%.

The market breadth in BSE ended positive with 1,430 shares advancing and 1,367 shares declining.

Read more on:   
|
|
|

Read More

Markets post best gains in 3-months on Fed optimism

The market breadth was firm. Out of 2,933 stocks traded , 1,685 stocks advanced compared to 1,136 declined on BSE

Quick Links

 

Market News

Snowman IPO elicits robust response; oversubscribed 60 times

Snowman Logistics is an integrated temperature controlled logistics service provider

In which sectors do FIIs have the most leg room to invest?

Oil & Gas tops the list

JSW emerges major buyer of Goan iron ore

Last week, it bought 147,000 tonnes worth Rs 24 crore in the fifth round of e-auction by the Goa government

KPMG to do forensic audit of UCX

The appointment of the forensic auditor follows inspection and audit done by the FMC in last June in which siphoning of funds was noticed

Domestic rubber prices see sharpest fall in five years

RSS grade-4 commodity below Rs 130 a kg

Back to Top