Sensex, Nifty gain 1%; rupee recovers tooPosted on Monday, May 14, 2012 - 01:08 am
The BSE Sensex and NSE Nifty rebounded on Thursday after witnessing a major fall in previous 3 out of 4 sessions. Both opened 1% higher led by buying interest in banks, oil & gas, auto, capital goods and FMCG stocks.
Even the Indian rupee recovered sharply, appreciating 67 paise to 53.15 a dollar, which closed at 53.85 to the dollar yesterday.
The BSE benchmark was up 153.59 points or 0.93% to 16,633.17 and the NSE benchmark went up 49.45 points or 0.99% to 5,024.25.
Infosys, Reliance Industries, Cipla (up 2% ahead of results today), ITC, SBI, Kotak Mahindra Bank, Hero Motocorp, JP Associates, Reliance Infrastructure, ICICI Bank and IDFC were supporting the market.
However, Infosys, Maruti and Sun Pharma were under pressure.
The CNX Midcap Index climbed 39 points to 7,095. About two shares advanced for every share falling on the
In the second line shares, GTL Infrastructure shot up 9% as Indian Overseas Bank got 9% stake in the company via convertible debentures conversion.
GTL surged 11% after ICICI Bank returned 2.85 crore shares (29.3% of paid-up capital) to company’s promoters due to invocation of the NDU / pledge.
KPIT Cummins, Allahabad Bank, VIP Industries, IRB Infrastructure and Aptech gained 1.5-4%.
Divestment Candidates ahead of cabinet meet today: MMTC and STC rallied 3-4%.
Results reaction: Gammon Infra tanked 5% as it reported consolidated net loss at Rs 15.5 crore in Q4FY12 as against profit of Rs 8.5 crore in a year ago period.
Mangalore Chemical rose 4% after its net profit jumped 121% year-on-year to Rs 21 crore for the fourth quarter of FY12.
Manapparum Finance was down 3%.