Sensex ends 121 points higher; Infosys, Tata Motors gain

Benchmark share indices ended at record closing highs for the third straight session amid agressive foreign fund buying led by Infosys and Tata Motors.

The 30-share Sensex provisionally ended up 121 points at 29,010 after hitting a fresh record high of 29,060.41 while the 50-share Nifty gained 32 points to close at 8,762 after touching a record high of 8,772.70.
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(Updated at 2:45PM
Benchmark indices are trading flat in the noon trades as gains in Index heavyweights including Tata Motors and Infosys coupled with Sun Pharma offset losses in the oil shares.

At 2,45 PM, the 30-share Sensex is up 58 points at 28,947 after hitting a fresh record high of 29,060.41 while the 50-share Nifty is up 13 points at 8,743 after touching a record high of 8,772.70.

 

Foreign institutional investors were net buyers in equities to the tune of Rs 2,065 crore, as per the provisional stock exchange data.

Asian shares were trading firm on expectations that the European Central Bank at its meet later today would announce measures to boost the sagging economy in the euro zone. The Nikkei and Shanghai Composite, Straits Times and Hang Seng were up between 0.3-1%.
 

Rupee: 

The Indian rupee trimmed its initial gains and quoted down by 1 paisa to 61.64 against the US currency in late morning deals today on mild bouts of dollar demand from importers.

Key Stocks:

On the sectoral front, BSE Healthcare index has emerged as the top gainber up over 1.7% followed by Capital Goods and Auto indices up between 0.5-1%. However, BSE Oil & Gas index is the top loser down over 1% followed by Consumer Durables index down over 0.8%. 

Pharma shares are among the top gainers led by Sun Pharma up 3.6% while Cipla and Dr Reddy's Labs are up nearly 1% each.

Shares in Reliance Industries are down after the Economic Times reported that the govt has taken a tough stand with the company over $1 billion Panna Mukta-Tapti oilfields

Sesa Sterlite trimmed early gains and is trading with marginal gains. The stock had gained in early trades on media reports that the company may soon restart mining operations in the state of Goa where it has a large stake in iron ore mines. 

Index heavyweight Tata Motors is up 2% on launching Bolt Bolt petrol variant at Rs 4.65-6.35 lakh (ex-Mumbai) and diesel variant at Rs 5.75-7.32 lakh (Ex-Mumbai) today.

A depreciating rupee has bolstered the technology pack. Infosys has gained 1.3% while Wipro is up nearly 1%.

Axis Bank, HDFC Bank, L&T and ONGC are some of the other Sensex gainers.

On the flip side, shares in Reliance Industries are down 2.4% on reports that the govt has taken a tough stand with the company over $1 billion Panna Mukta-Tapti oilfields.

NTPC has emerged as the top loser and is down 2.7%.Hero Motocorp, Maruti Suzuki, SBI and HDFC are among the other losers on the 30-share Sensex and are down between 0.7-1.6%. 

The broader markets are trading mixed. BSE Midcap is trading flat with a negative bias whileBSE Smallcap is up 0.3%. 

Market breadth is weak with 1,290 gainers and 1,539 losers on the BSE.