Sensex rises 128 pts ahead of inflation, IIP data
Quotes

Sensex rises 128 pts ahead of inflation, IIP data

Last Updated: Thursday, April 11, 2013, 23:44
 
 Comment 0
 
Sensex rises 128 pts ahead of inflation, IIP data
Mumbai: Rising for the second day, the BSE benchmark Sensex Thursday jumped by 127.75 points to end at one-week high level of 18,542.20 on the back of solid 3-4 percent gains in shares of Infosys, ICICI Bank and Tata Motors ahead of consumer inflation and IIP data tomorrow.

The Bombay Stock Exchange 30-share barometer resumed strong and moved in a range of 18,599.14 and 18,397.94 before concluding at one-week high of 18,542.20 -- a gain of 127.75 points or 0.69 percent. Yesterday, it rose by 187.97 points.

Thursday's close was the highest since 18,801.64 on April 3.

Similarly, the CNX Nifty of the NSE also improved further by 35.30 points or 0.64 percent to end at 5,594.00.

Brokers said buying was seen in realty, IT, banking and capital goods counters ahead of IIP and CPI data to be released on Friday. Infosys, which surged by 3.72 percent, is also expected to help set the tone for markets tomorrow as the IT bellwether will come out with its quarterly earnings.

Tata Motors, ICICI Bank, L&T, HDFC Bank, ONGC, Sun Pharma and SBI also attracted good buying interest.

Sentiment also improved after data showed Foreign Institutional Investors (FIIs) bought shares worth a net Rs 40.22 crore on Wednesday.

However, Bharti Airtel was the biggest loser in Sensex as it fell 2.31 percent after it was today restrained by Supreme Court from providing 3G roaming services to new customers in 7 circles where it does not have licence to do so.

Barring China, other Asian stocks closed with gains, as the yen neared 100 to the dollar after the Bank of Japan said it will maintain stimulus and loan growth in China topped estimates. European markets too were quoting higher in their early trade.

Key Asian benchmark indices in Hong Kong, Japan, Singapore, South Korea and Taiwan rose by 0.30 percent to 1.96 percent. US stocks climbed yesterday after reports said minutes from the last Federal Reserve meeting quelled fears that the central bank will slow its monthly bond purchases.

In Europe, France's CAC was up by 0.60 percent, Germany's DAX by 0.55 percent and the FTSE by 0.33 percent.

Back home, 16 out of 30-Sensex based scrips closed up.

"Traders are awaiting the crucial macroeconomic data due for release for directional cues," said ICICIdirect.Com.

The February IIP data and March consumer price index inflation number are keenly awaited by investors to understand RBI's stance on further rate cuts, analysts said.

Tata Motors was the top gainer from the Sensex pack with a rise of 3.92 percent, followed by ICICI Bank (3.52 percent), L&T (2.05 percent), Sun Pharma (1.81 percent), Cipla (1.73 percent), ONGC (1.41 percent), HDFC Bank (1.10 percent), Maruti Suzuki (1.04 percent) and SBI (1.02 percent).

However, Bharti Airtel dropped by 2.31 percent, followed by Tata Steel (2.24 percent), HDFC (1.90 percent), NTPC (1.48 percent), Bajaj Auto (1.42 percent), RIL (1.27 percent) and Tata Power (1.10 percent).

Among the sectoral indices, the S&P BSE-Realty rose by 2.21 percent, followed by S&P BSE-IT (2.04 percent), S&P Bankex (1.53 percent), S&P BSE-Teck (1.49 percent) and S&P BSE-CG (1.25 percent).

The total market breadth remained positive as 886 stocks closed with gains while 796 others concluded with losses and 765 scrips closed stable. The total turnover was relatively low at Rs 1,696.44 crore from Rs 1,816.41 crore on Wednesday.

PTI



First Published: Thursday, April 11, 2013, 17:04


Comments


comments powered by Disqus
Forbes Best Places for Biz 2014
Forbes Best Places for Biz 2014
Hyundai Elite i20
Hyundai Elite i20
John Kery with Indian Biz Honchos
John Kery with Indian Biz Honchos
Honda Mobilio MPV
Honda Mobilio MPV
Tata Zest first drive review: In pics
Tata Zest first drive review: In pics

Web Wrap
Contact Us : Privacy Policy : Legal Disclaimer
Copyright © Zee Media Corporation Ltd. All rights reserved