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Sensex hits fresh one-week high; up 130 pts as Hero, RIL surge

Last Updated: Tuesday, May 28, 2013 - 16:41

Mumbai: The BSE benchmark Sensex on Tuesday rose by 130 points to hit a fresh one-week high, extending gains for the third straight day on increased capital inflows into bluechips, led by Hero Moto Corp, RIL and Coal India.

The 30-share index, which had gained 356 points in the last two trading sessions, advanced further by 130.05 points, or 0.65 percent to 20,160.82. This is Sensex's highest closest since May 20.

The broad-based National Stock Exchange index Nifty regained a crucial 6,100 level by rising 28.10 points, or 0.46 percent, to 6,111.25.

Also, the MCX-SX flagship index SX40 closed higher by 51.64 points, or 0.43 percent, at 11,947.27.

Brokers said the market remained in bullish mode on foreign funds buying, following steady inflow of positive reports from blue chip companies.

A firming Asian trend and higher opening in Europe as investors awaited reports that may show US consumer confidence and house prices increased, further boosted the trading sentiment.

CIL rose by 3.01 percent (pc) to Rs 322.95 after posting higher fourth-quarter profit and coal price hike, while index- heavy Reliance Industries advanced by 1.80 percent to Rs 843.115, added to yesterday's 5.3 percent gain after it announced a "significant" gas discovery.

Out of the 30 Sensex components, 19 stocks ended with gains led by Hero MotoCorp, BHEL and Coal India gaining 5.09 percent, 3.30 percent and 3.01 percent, respectively.

While auto stocks were back in demand ahead of the monthly sales report, Infosys held unchanged at Rs 2,366.35.

Among other stocks, shares of gold loan firms Muthoot Finance and Manappuram Finance were down after the Reserve Bank imposed restrictions for providing loans against gold coins as well as units of gold ETFs.

In sector-wise indices, the oil and gas sector index gained the most by rising 1.65 percent to 8,950.96, followed by auto index by 1.33 percent to 11,076.54.


First Published: Tuesday, May 28, 2013 - 16:39
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