Business Standard

Markets remain positive

Tata Motors is the top Sensex gainer, up nearly 3%

Related News

Key share indices maintain the firm trend tracking firm Asian markets and positive comments from German Chancellor. Buying among index heavyweights and Auto shares has also led the upmove.

By 1300 hrs, was up 113 points at 17,770 and the 50-share gained 25 points at 5,388. The Sensex and the Nifty touched an intra-day high of 17,801 levels and 5,400 mark, respectively. 

On the global front, Asian markets too advanced after German Chancellor Angela Merkel voiced support for the European Central Bank's efforts to contain the debt crisis in the euro zone. Nikkei, Strait Times, Hang Seng and Shanghai have gained between 0.1-1%.

Back home, BSE FMCG index has surged by nearly 2% followed by counters like IT, Auto, Consumer Durable and Healthcare, all gaining by almost 1% each. Apart from Capital Goods, all the major BSE sectoral are trading in positive zone.

From the FMCG space, ITC is up nearly 2% on buying support at lower levels after the stock witnessed selling pressure yesterday on concerns about regulatory action at home after reports that Australian court has approved logo ban on tobacco packs from December 1. HUL has also gained by nearly 2%.

Software exporters such as Infosys, Wipro and TCS have surged between 1-2% on back of positive economic data from the US. All these companies earn a major portion of their revenues from exports to the US.

Tata Motors is the top Sensex gainer, up nearly 3% after the auto major on Thursday said that global sales, including for luxury unit Jaguar Land Rover, were up 21% in July. M&M, Maruti Suzuki and Hero Moto have gained between 0.3-1%. Maruti Suzuki is up 1% at Rs 1,186 on reports that the company would lift the month-l ong lockout and resume production at the violence-hit Manesar unit from August 21.

Banking and financial majors like ICICI bank, SBI and HDFC have gained by 1% each.

Index heavyweight Reliance Industries has gained by nearly 0.5% after the company recently said that it has proposed to drill the first exploration well in almost five years in the flagging KG-D6 gas fields in an effort to reverse the falling output. The report by Goldman Sachs that RIL can potentially become a $100-billion in market capitalisation by 2016-17 also boosted sentiment.

On the losing side, L&T, Hindalco, HDFC Bnak, Tata Steel, Tata Power and Cipla have dropped by almost 1% each. Larsen and Toubro (L&T) is trading lower by 1.3% at Rs 1,456  in otherwise firm market after turning ex-dividend today.

Among individual shares, Gruh Finance has surged 14% at Rs 193, its historic high, on back of huge volumes.

KSL and Industries has locked upper circuit of 10% at Rs 62.75 on reports that the textile firm has settled a court dispute with holders of its foreign currency convertible bonds (FCCBs).

The BSE mid-cap and small-cap indices maintain the steady movement, both gaining by nearly 1% each.

The overall market breadth remains positive with 1,452 stocks advancing while 1,111 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

Raising the output key to Cairn India's prospects

With crude oil prices benign, increasing oil and gas production is crucial to drive growth

Biocon sees muted quarter, lacks immediate triggers

Reduced exports to West Asia & North Africa, capacity constraints affect sales

Exchanges plan stake sales in depository arms

NSE in talks with investors for offloading stake, BSE considering an IPO; to do so before April

Many listed firms had same auditors for over 10 yrs: IIAS

Proxy advisory body Institutional Investor Advisory Services India (IIAS) has called for periodic rotation of auditors and capping their tenure ...

Freeing diesel : Profound effect across many industries

The decontrol of diesel over the weekend will have a profound effect on the oil industry value chain. It could significantly reduce the fiscal ...

Back to Top