Markets extend gains to end at 2 year closing high - LuvKush Finserve

Markets extended gains to end at their two-year closing highs on Thursday led by software majors on hopes of better-than-expected third quarter earnings starting next week. The Sensex ended up 51 points at 19,765 and the Nifty ended up 16 points at 6,010. The Nifty ended above 6,000 level for the first time since January 6, 2011 when the benchmark index had ended at 6,048.25. The Sensex had ended at 19,691.81 on January 6, 2011.

On the sectoral front, IT, oil & gas, metal, real-esate, healthcare, led gains while FMCG, power, capital goods, banks and consumer durables were among laggards on BSE. Among key Sensex stocks, Dr Reddy's gained 2.3%, Bharti Airtel and SBI rose 2% and 1%, Bajaj Auto was up 0.5%, Tata Steel rose 1% on BSE.

The laggards included Tata Power dropped 1.5%, Sun Pharma and Cipla declined nearly 1%, Hindalco and Sterlite fell 0.5% each while Maruti Suzuki and Mahindra & Mahindra declined 0.7% on BSE. The broader markets outperformed benchmark indices with mid-caps and small-caps gaining nearly 1% on BSE.

Source : Equity Bulls

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