Sensex closes 95 points up; bank, auto stocks rally
A benchmark index for Indian equities markets Thursday closed 95 points higher after BSP leader Mayawati voiced support to the government on allowing foreign capital in multi-brand retail in the upper house of parliament.
The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 19,475.09 points, closed at 19,486.80 points, up 94.94 points or 0.49 percent from its previous close at 19,391.86 points.
This was the third straight day of gain for markets.
The index touched a high of 19,523.25 points, recovering 300 points from the day's low of 19,186.24 points intra-day. The BSE midcap index was up 51.21 points, while the smallcap index edged higher by 33.95 points.
The wider 50-scrip S and P CNX Nifty of the National Stock Exchange was up 30.40 points or 0.52 percent at 5,930.90 points.
The BSE bank index was higher by 164.12 points, auto index was up 85.26 points, metal index, up 82.98 points, oil and gas, up 71.16 points and capital goods, up 69.97 points.
However, the information technology (IT) index was down 79.18 points, while the media, entertainment and communication (TECk) index ended lower by 36.68 points, followed by healthcare index, down 3.06 points.
Among the gainers were Sterlite Inds, up 2.35 percent at Rs.115.45; Tata Motors, up 1.93 percent at Rs.280.20; Hindalco Inds, up 1.78 percent at Rs.123.00; State Bank of India (SBI), up 1.68 percent at Rs.2,307.25; and BHEL, up 1.43 percent at Rs.241.05.
The major losers were Infosys, 1.84 percent lower at Rs.2,338.50; Bharti Airtel, down 1.59 points at Rs.324.80; Tata Consultancy Services (TCS), down 1.14 percent at Rs.1,282.40; Cipla, down 0.62 percent at Rs.411.75; and Wipro, down 0.33 percent at Rs.379.75.
Among other Asian markets, Japan's Nikkei rose 0.81 percent, while Hong Kong's Hang Seng was down 0.09 percent. China's Shanghai Composite Index closed lower by 0.13 percent.
All major European markets were in the green with Britain's FTSE 100 up 0.16 percent, while the German DAX was trading higher by 0.94 percent. The French CAC 40 index was also up 0.51 percent.