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Sensex rises 98 points; RIL, Infosys, TCS lead gain

Last Updated: Monday, May 6, 2013 - 19:32

Mumbai: The benchmark BSE S&P Sensex Monday registered by 98 points gain on fag-end buying in bluechip stocks such as RIL, TCS, ICICI Bank and Infosys amid sustained capital inflows.

Last-minute buying in metal, IT, consumer durables, auto, teck and refinery stocks pushed the Sensex up by 98 points, or 0.50 percent, to conclude at 19,673.64. The index had lost 160 points in the previous session.

"The rally was able to hold ground at higher levels on back of strong surge in metals stocks as well as continuing rally in the IT stocks. Index heavy weight Reliance Industries too gained about 2.6 percent," said Nagji K Rita, Chairman & MD, Inventure Growth and Securities.

Banking stocks, which were mostly down at mid-session after media website Coprapost alleged that 23 major banks and insurance companies were part of the money laundering racket, recovered later to end in the positive terrain.

Fall in the HSBC Composite Output Index to 50.5 in April, slowest pace of growth in one-and-a-half years, from 51.4 in March also impacted negatively in the afternoon trade, brokers said.

Central Bureau of Investigation Monday said it has filed a fresh affidavit in the Supreme Court on its probe into the coal blocks allocation, naming who made changes in CBI's draft status report on coal scam, also affected the market at mid-session, they added.

In 30-BSE index components, 21 scrips ended higher while remaining nine finished lower.

Tata Steel at 3.58 percent was the biggest gainer of the day followed by Hindalco at 3.52 percent and TCS at 3.25 percent. Hero MotoCorp gained 2.32 percent, Jindal Steel at 2.26 percent, Tata Motors at 2.02 percent and ICICI Bank at 1.28 percent. Software major Infosys rose 1.46 per.

Among the sectoral indices, S&P BSE-Metal rose by 1.98 percent followed by S&P BSE-IT 1.88 percent, S&P BSE-Teck 1.55 percent, S&P BSE-CD 1.51 percent, S&P BSE-Auto 1.39 percent and S&P BSE-Oil&Gas 1.27 percent.

The 50-issue CNX Nifty of the NSE also recouped by 27.05 points or 0.46 pct to 5,971.05.

Foreign institutional investors (FIIs) bought shares worth a net Rs 953.95 crore on Friday as per provisional data from the stock exchanges.

Asian stocks ended higher as investors gave thumbs up to an upbeat US labour force report that sent Wall Street to an all-time closing high on Friday.

Key indices in China, Hong Kong, Taiwan and Singapore rose by 0.37 percent to 1.16 percent, while South Korea's Kospi composite eased by 0.22 percent. Japanese markets remained closed today for a public holiday.

European markets were trading lower in their early trade as indices in France and Germany softened by 0.17 percent and 0.18 percent, while the UK market was closed.

Turning to the local market, the market breadth turned positive as 1,339 stocks ended in green, while 1,006 finished in red.

The total turnover dropped to Rs 1,817.46 crore from Rs 2,225.69 crore on last Friday.


First Published: Monday, May 6, 2013 - 16:34
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