Tuesday, Oct 21, 2014

BSE Sensex rises for 1st time in 4 sessions; HDFC, M&M lead gains

BSE Sensex ended 190.10 points higher at 25,519.24. (PTI)
Press Trust of India | Mumbai | Posted: August 11, 2014 10:50 am | Updated: August 11, 2014 4:43 pm

The benchmark BSE Sensex today rose for the first time in four sessions and ended 190.10 points higher at 25,519.24 led by robust gains in shares of HDFC, Infosys and M&M, amid signs of easing in geopolitical tensions.

Realty and infrastructure stocks spurted after Sebi cleared final guidelines for creation and listing of business trusts for real estate and infrastructure sectors.

The 30-share Sensex gained 190.10 points, or 0.75 per cent, to end the day at 25,519.24 after climbing to 25,553.44 intra-day. The surge comes after the barometer lost 579 points in the previous three sessions.

Out of the 30-share Sensex, 18 stocks ended with gains while 12 counters closed in the negative zone.

The 50-scrip NSE index Nifty reclaimed the 7,600-mark by jumping 57.40 points, or 0.76 per cent, at 7,625.95 after moving between 7,635.55 and 7,598.60 intra-day.

“Auto and banking stocks helped indices rise…recovery in global markets after easing tensions between Ukraine and Russia, further strengthened overall market sentiment,” said Nidhi Saraswat, Senior Research Analyst, Bonanza Portfolio.

Auto stocks were in the limelight with M&M and Tata Motors on buying related to earnings while Maruti Suzuki, Hero MotoCorp and Bajaj Auto jumped amid activity around monthly sales, said brokers.

Investors were increasing positions on hopes of encouraging June IIP data to be released tomorrow, they added.

Positive cues from other Asian markets supported by a weekend rally in the US markets and a higher opening in the European markets, too fuelled buying activity.

Other index-based gainers which provided support included Coal India, HDFC, ICICI Bank, Axis Bank, Bharti Airtel, Sesa Sterlite, Sun Pharma and Hindalco.

Sectorally, the BSE Auto sector index gained the most by rising 2.65 per cent, followed by Realty (up 0.96 per cent), Capital Goods (0.88 per cent), IT (0.67 per cent), Metal (0.66 per cent) and Banking (0.55 per cent). Power, FMCG and oil and gas sector indices, however, ended down.

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