Sensex ends 227 points up; auto, pharma do well
Posted on: 10:24 AM IST Apr 25, 2013
Mumbai: Key equity benchmark indices closed with hefty gains on expiry day. The Nifty closed at one-month high led by index heavyweights like GAIL, Tata Motors, Dr. Reddys, Axis Bank and NTPC. The Nifty gained close to 4 per cent in the April series. Midcap and smallcap stocks also performed well. Bank Nifty was the star performer with massive 12 per cent gains in this series. The hopes of rate cut picked up pace after March inflation data which were announced on April 15 touched 40-month low.
However, volatility played its part in the last one hour of trade. Nifty was languishing around 5860 mark and it suddenly shot up 60 points in two minutes of the last one hour of trade. Traders who had written out of the money 5900 calls, rushed in to cover the losses.
The Sensex closed at 19406.85 up 227 points and the Nifty ended at 5916.30 up 79 points, a level last seen on March 14. About 1278 shares advanced, 1200 shares declined, and 1190 shares remain unchanged. Shares of auto, pharma, oil&gas, metal, banks and power saw heavy buying in trade on Thursday. IT, telecom and realty stocks ended with marginal losses. IT stocks were biggest laggards in this series.
Dr Reddys Labs, GAIL, Tata Motors, NTPC and Axis Bank were top gainers in the Nifty. TCS, DLF, HCL Tech, Infosys and Jaiprakash Associates were top losers. Axis Bank, the third largest private sector lender, gained four per cent after reporting a forecast beating 22 per cent year-on-year rise in its fourth quarter net profit at Rs 1,555 crore.
Credit Suisse has maintained its "outperform" rating on Tata Motors, saying its luxury brand Land Rover continues to grow ahead of competition in China, one of its biggest market, even as the overall luxury car demand there has slowed down a bit. The stock was up 4 per cent. Shares of Petronet LNG were in focus amid high volumes after the company signed initial agreement to buy 4mtpa from US-based United LNG.
More from this Section
August 28, 2015, 9:42 pm IST
August 28, 2015, 4:02 pm IST
August 28, 2015, 3:16 pm IST
August 28, 2015, 2:32 pm IST