Auto Helps Sensex Regain 20,000 Level
Suparna / 28 May 2013
The markets picked up momentum in the last hour as positive cues from Europe spurred the bulls. The Nifty closed the day with gains of 28 points at 6111 and Sensex closed higher by 136 points at 20,167.
The Indian markets, which had witnessed dull trading since morning trades, but picked up momentum in the last hour as positive cues from the European market spurred the bulls. Stocks like Hero MotoCorp, BHEL and Reliance led the gains. The Nifty closed the day with gains of 28 points at 6111 and Sensex closed higher by 136 points at 20,167. Both the indices closed up in the range of 0.46%-0.68%.
The advance-decline ratio ended on the positive side. On the NSE, 672 shares closed in the green and 602 shares were in the red.
Top 5 Nifty Gainers: Hero MotoCorp ended 5.82% higher today. Jaiprakash Associates, BHEL, Coal India and Mahindra & Mahindra also closed in gains.
Top 5 Nifty Losers: Ranbaxy Labs ended as the top loser, down by 2.29%, followed by Sun Pharma, Kotak Mahindra Bank, UltraTech Cements and SBI.
Most of the sectoral indices ended in the green. Oil & Gas, Auto and PSU all closed with over 1% gains. The Healthcare and Bankex indices witnessed some profit booking and closed in the red.
The leading Asian markets remained in the green. Japan’s Nikkei 225 closed up by 1.18%, followed by the Shanghai Composite, Hang Seng, KOSPI and Straits Times. Taiwan Weighted is trading down by 0.21%.
The European markets are inching higher. FTSE 100 has gained 1.60% to touch 6782, CAC 40 is trading higher by 59 points and DAX is up by 1.09% at 8476.
Buzzers: AstraZeneca Pharma tanked more than 16% to Rs 668 today as the company launched its one-day offer for sale (OFS) at a floor price of Rs 490 per share. The promoters of the company, AstraZeneca Pharmaceuticals A B Sweden, which holds a 90% stake, plans to sell 37.5 lakh shares or 15% of the total outstanding though OFS.
Hero MotoCorp surged by more than 5% to Rs 1750 on the back of heavy volumes. The stock saw price momentum in the last hour of trade on the back of short covering ahead of expiry. It opened trades at Rs 1669 and made a high of Rs 1770.
The markets have seen a good up-move after a minor consolidation. Going ahead, we expect volatile trades ahead of the May series expiry.
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