Nifty gains 129 points to end above 8,200

Benchmark share indices ended over 1% higher on Thursday, amid firm global cues, to end their three-day losing streak led by financials and FMCG shares.

The 30-share Sensex provisionally ended up 366  points at 27,275 and the 50-share Nifty ended up 129 points at 8,231.

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(Updated at 2:17PM

Markets have extended gains and are trading near day’s high led by strong buying among financial and FMCG shares. Firm opening of the European markets has also cheered the sentiments among local investors.

At 14:17 PM, the 30-share Sensex was up 380 points at 27,287 and the 50-share Nifty was up 129 points at 8,231.

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Updated at 11:40

Benchmark indices have maintained their early gains, amid firm global cues, aided primarily by the fresh buying in select index heavyweights and bank shares.

  
At 11:30 AM, the 30-share Sensex was up 245 points at 27,156 and the 50-share Nifty was up 85 points at 8,187.
 
In the broader market, both the BSE Midcap and Smallcap indices have performed better than the front-liners with gains of around 1.5% and 1.8% each.  Market breadth in BSE is positive with 1,842 advances against 563 declines.
 
Meanwhile, foreign institutional investors were net sellers in Indian equities worth Rs 1,073.18 crore on Wednesday, as per provisional stock exchange data.

 
Buzzing Stocks
 
BSE FMCG index, up 1.4% is the lead gainer among the 12 sectoral indices in BSE, all of which are trading higher in today's session. BSE Bankex, Auto and Power indices have gained around 1.3% each. BSE IT index has gained the least and is up by 0.1%.
 
Financials are trading higher in today's session. Mortgage lender HDFC has gained around 2.4% and its twin HDFC has gained 2%. SBI and ICICI Bank have gained 1% each while Axis Bank is down 0.2%.
 
Kotak Mahindra has gained around 3% after shareholders of the bank today gave their approval to merge Bengaluru-based ING Vyaya Bank with itself. At an extraordinary general meeting, shareholders of the Mumbai-based private bank approved the merger proposal. The exchange ratio has been fixed at 725 shares of Kotak with 1, 000 shares of ING Vysya.

 
Auto Stocks are trading firm led by the gains in Tata Motors which has gained over 2% while Maruti Suzuki has gained around 1.6%. Hero MotoCorp and Bajaj Auto are only marginally higher by 0.1% each after CLSA downgraded the stocks.
 
IT stocks are trading mixed. Infosys is down 0.5% ahead of its third quarter results due tomorrow while TCS and Wipro have gained around 0.3% each. According to media reports, Wipro has won a $400 million, multi-year IT infrastructure management contract from Swiss engineering giant ABB.
 
Among other shares, hotel shares firmed up after official data showed higher foreign exchange earnings in December 2014 on the back of higher tourist arrivals. Hotel Leela, EIH (Oberoi Group), Taj GVK Hotels Resorts, ITDC and Sterling Holiday Resorts are up 0.5-1.5% each.

 
Walchandnagar Industries has surged 12%, extending its previous day’s rally 18% surge on BSE, after GK Pillai, Managing Director and CEO of the company said that the company is in the process of reviving the discussion with Russian Company AEM for Nuclear business opportunity.