Buying Interest pushes Indian Markets up - LuvKush Finserve

Markets ended on a positive note on Monday on back of buying witnessed in rate-sensitive sectors such as banks, real-estate and automobile. Hopes of policy action from the Congress-led UPA government gained prominence after the Reserve Bank of India's Duvvuri Subbarao cancelled his entire public engagement programme in Mumbai and rushed to Delhi to meet the finance minister and the prime minister. The meeting, which will be to discuss measures like sovereign bond issue to save the weakening rupee.

Mirroring the optimism, the Sensex gained 76.01 points to end at 20,034.48 and the Nifty rose 21.80 points at 6,030.80 levels.

Among the key sectoral indices, FMCG, capital goods, oil & gas and bankex gained while power and IT sectors dropped on the BSE. The gainers included counters such as Bharti Airtel surging 3.2%, Mahindra & Mahindra rose 2.4%, TCS gained 2.3%, Hindalco Industries added 3.6% while HUL was up 1% on the BSE.

The laggards were Tata Steel shedding 2%, Coal India was down 2.5%, Infosys declined 2.2%, NTPC shed 2% while Tata Motors fell 1.4% on the BSE. The key notable movers included counters such as Opto Circuits (India) zoomed as much as 35% to Rs 30.60 in noon deals on BSE on back of heavy volumes.

Source : Equity Bulls

Keywords