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Sensex, Nifty End Higher For Third Straight Day Led By RIL, ICICI Bank

Sensex and Nifty rose for third session in a row mirroring gains in other Asian markets.

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Sensex, Nifty End Higher For Third Straight Day Led By RIL, ICICI Bank

Reliance Industries and ICICI Bank were among top movers in the Sensex.


Domestic equity benchmarks rose for third session in a row mirroring gains in other Asian markets thanks to a rally in Chinese stocks on expectations of more economic stimulus. Gains in today's session were led by Reliance Industries, ICICI Bank, HDFC, ITC and Bajaj Finance. The S&P BSE Sensex rose 0.53 per cent or 194 points to settle at 36,636 and the NSE Nifty 50 Index rose 0.60 per cent or 66 points to shut shop at 11,053, above its psychologically important level of 11,050.

The Shanghai Composite Index rose more than 1.5 per cent, to near a nine-month high, as China's state planner said the government will boost domestic consumption further this year.

Back home, all 19 sector gauges compiled by BSE, barring the measure of auto shares, ended higher led by the S&P BSE Energy Index's 1.7 per cent gain. Power, consumer durables and telecom indexes also rose over a per cent each.

Gains were broad-based as the mid- and small-cap shares also witnessed buying interest. The S&P BSE MidCap Index advanced 0.5 per cent and the S&P BSE SmallCap Index climbed 1 per cent.

Bharat Petroleum was the top gainer in the Nifty 50 basket of shares, the stock rose 2.8 per cent to close at Rs 372.80. Bajaj Finance, ICICI Bank, Hindalco, Vedanta, Bharti Infratel, Reliance Industries and Wipro were also among the gainers.

On the other hand, Zee Entertainment, Tata Motors, Indiabulls Housing Finance, Axis Bank and Hindustan Unilever were among the losers.

Among the individual shares, Dewan Housing Finance surged 11 per cent after an independent chartered accountant firm said it found no evidence to support Cobrapost's allegations of financial misappropriation.

(With inputs from Reuters)



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