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| Markets end higher led by banks |
| Surabhi Roy / Mumbai Feb 06, 2012, 16:19 IST |
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Key share indices ended higher amid a volatile trading session Monday, rising for the fifth straight day, led by bank and capital goods shares.
The 30-share Sensex ended at 17,707 up102 points and the 50-share Nifty ended at 5,362 up by 36 points. The Sensex and the Nifty reached an intra-day high of 17,830 levels and 5,390 mark, respectively.
On the global front, Asian markets ended mixed. Strait Times, Shanghai Composite Nikkei and Kospi ended in green. However, Hang Seng and Taiwan Index ended in red zone.
European markets opened lower on nerves Greek would fail to come up with the political commitments needed to avoid a potential sovereign debt default, taking the shine off a US jobs report that had brightened the global economic outlook.
Back home, BSE Realty index surged 4% followed by counters like Capital Goods and Metal, both surging by almost 2% each. Apart from Healthcare, all the major BSE sectoral indices ended in green zone.
Realty stocks ended firm on expectations that the central bank will start cutting interest rates in the coming months to prop up slowing economy. DLF surged nearly 2%. Other Realty stocks like DB Realty, Unitech and HDIL gained between 4-14%.
Metal stocks surged after LMEX, a gauge of six metals traded on the London Metal Exchange jumped 2.45% on Friday, 3 February 2012. Jindal Steel was the top Sensex gainer, up 3%. Hindalo and Sterlite gained between 1-2%.
Among Sensex stocks, from the capital goods space, BHEL and L&T gained by nearly 2%. L&T gained on winning Rs 1,937-cr order from GVK group.
Banking stocks like SBI and ICICI Bank gained between 2-3%. However, HDFC Bank ended marginally lower.
Auto stocks like Bajaj Auto, Maruti Suzuki and Tata Motors gained between 1-2% on the back of encouraging sales in January.
However, index heavyweight RIL lost ground and has plunged by almost 1%.
Tata Power slumped 4% and was the top loser from the Sensex pack.
FMCG major HUL plunged by over 3%. The stock jumped by almost 2% in the late noon after the announcement of robust Q3 numbers. ITC gained by almost 1%.
Among Technology pack, Infosys dropped by nearly 1%. However, TCS gained by almost 2% on reports that the company has bagged a huge order from a European firm.
The broader markets outperformed the benchmarks indices. The BSE Midcap and Smallcap indices zoomed between 1-2%.
Shares of cement companies surged triggered by good dispatches data in January 2012. J.K. Cement, Jaiprakash Associates, UltraTech Cement and India Cements gained between 5-10%.
Piramal Healthcare gained 3% after the company said it would buy a 5.5% stake in Vodafone's India unit from Essar for Rs 3007 crore, taking its total stake in the mobile company to about 11%.
The railway related stocks like Kernex Microsystems, BEML, Stone, India and Texmaco surged over 5% each after the ministry of finance approved Rs 3,000-crore loan to the Indian Railways.
The overall market breadth in BSE ended firm with 1,856 shares advancing and 1053 shares declining.
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