Nifty Hits Ton, RIL Cheers Traders

The Indian markets extended their gains and reached near their day’s high in the last hour of trade led by buying in heavyweights like Reliance and HDFC Group. The Nifty closed with gains of 99 points at 6083 and Sensex closed up by 296.97 points at 20,001. Both the indices closed up in the range of 1.51%-1.66%.

The advance-decline ratio ended on the positive side. On the NSE, 780 shares closed in the green and 480 shares were in the red.

Top 5 Nifty Gainers: IndusInd Bank ended as the highest gainer, up by 6.24%. Reliance Industries, Sun Pharma, Jindal Steel and Power and Ranbaxy Labs were the others in the list.

Top 5 Nifty Losers: Cipla ended was lower by 1.71%, followed by Mahindra & Mahindra, Maruti Suzuki India, Lupin and Bank of Baroda.

All the sectoral indices ended in the green. Consumer Durables was in the lead, higher by 2.78%, and others like Oil & Gas, Metal, Power and Realty also saw good gains.

In the Asian markets, Taiwan Weighted closed up by 0.85%, while KOSPI, Hang Seng and Shanghai Composite were also in the green. Japan’s Nikkei crashed more than 3% and closed at 14,142.

The European markets are trading on a mixed note. CAC 40 is currently in gains of 0.52% and FTSE 100 is higher by 0.42%. DAX is trading down by 0.64%.

Buzzers: TTK Healthcare tanked more than 11% to Rs 560, falling almost 15% from its intraday high on reporting a net profit of Rs 2.25 core for the quarter ended March 31, 2013, which dropped 40% year-on-year due to poor performance from its consumer products distribution segment.

Sun Pharmaceutical Industries has moved higher by 4% to Rs 1013, recovering its entire losses ahead of its Jan-March quarter result that will be announced tomorrow.

We had mentioned in the last update that the market will see momentum only if the Nifty sustains above 6040. As we have seen, it did move up non-stop as soon as it crossed 6040.