BSE Sensex recovers 101 points on better earnings by HUL,global cues

The Sensex rose by 101.78 points,or 0.52 per cent to 19,387.50

The BSE benchmark Sensex today recovered by 101 points led by fresh buying in blue-chips such as HUL,ITC,ONGC and ICIC Bank on better earnings and expectations of monetary policy support by the RBI amid a firming global trend.

Better-than-expected fourth quarter earnings by FMCG major Hindustan Unilever HUL on the back of robust sales across various business verticals,boosted the market sentiment.

Shares of FMCG major Hindustan Unilever ended higher by 6.98 per cent. HUL today posted 14.65 increase in its net profit at Rs 787.20 crore for the fourth quarter ended March 31,2013.

The Sensex resumed higher at 19,306.67 and hovered in a range of 19,428.94 and 19,284.40 before ending at 19,387.50 showing a net gain of 100.78 points or 0.52 per cent from its last weekend8217;s level.

The NSE index Nifty also rose by 32.65 points,or 0.56 per cent,to 5,904.1.

Brokers said trading sentiment improved on reports of better quarterly earnings by HUL,Hero MotoCorp,ICICI Bank and Maruti Suzuki.

Two-wheeler major Hero MotoCorp jumped by 3.24 per cent despite it reported 4.86 per cent decline in its net profit at Rs 574.23 crore for the fourth quarter ended March 31.

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IT stocks bounced back in trade today after hammering last week.

The market received further support on firming global trend as Italy formed a new government and optimism grew that central banks will decide to maintain economic stimulus in their meetings this week,brokers added.

IMF saying the India8217;s GDP is likely to improve to 5.7 per cent in 2013 and further to 6.2 per cent a year after,also influenced the market sentiment,they added.

FIIs bought shares worth a net Rs 224.75 crore on last Friday as per provisional data from the stock exchanges.

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In 30-BSE index components,19 stocks closed with gains. The Consumer Durable sector index gained the most by 2.43 per cent followed by FMCG index by 2.30 per cent.

The interest-sensitive realty sector rose by 1.53 per cent to 1,921.89 on rate cut hope by the RBI on May 3.

Asian stocks ended mixed. Key benchmark indices in Hong Kong,Singapore and Tawian moved up by 0.10 per cent to 0.39 per cent,while South Korea8217;s Seoul Composite declined by 0.20 per cent.

European markets were trading higher amid optimism central banks in US and Europe will maintain monetary stimulus. Key indices in France,Germany and the UK moved up by 0.02 per cent to 0.62 per cent.

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Indication of higher opening in US index futures was also the another factor behind rise in share prices.

Turning the local market,18 scrips out of the 30-share Sensex ended higher while 12 others finished lower.

Other major gainers from the Sensex pack Wipro 3.57 pct,Sterlite Ind 2.29 pct,ITC 1.69 pct,ONGC 1.37 pct,Mamp;M 1.29 pct and BHEL 1.27 pct.

However,Jindal Steel dropped by 4.24 per cent followed by Coal India 1.74 per cent and Sun Pharma 1.50 per cent.

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Among the sectoral indices,the Samp;P BSE-Consumer Durable rose by 2.43 per cent followed by Samp;P BSE-FMCG 2.30 per cent,Samp;P BSE-Realty 1.53 per cent,Samp;P BSE-Power 1.44 per cent,Samp;P BSE-Teck 1.04 per cent and the Samp;P BSE-IT 1.03 per cent.

The total market breadth turned positive as 1,289 stocks ended in green while 1,070 stocks finished in red. The total turnover rosed to Rs 2,358.59 crores from Rs 2,259.22 crores on last Friday.