The Sensex and Nifty closed higher in days trade today led by L&T and ITC and banking and auto sectors. The Sensex closed 226.37 points or 1.30 percent higher at 17618.35 points in trade. The Nifty closed higher by 1.33 percent at 5345.35, ending trade 70.20 points higher. News on better than expected UK data on manufacturing and the resolution of the EU leaders to provide Spain with funding spurred markets today.
BofA-Merrill Lynch issued a warning to co’s coming out with first quarter earnings would report a weaker number. OECD added to woes by stating in its report that unemployment would still remain higher until end of 2013.
On the sectoral indices front for the BSE index, the Midcap index closed 1.1 percent higher while the Smallcap Index rose 0.79 percent. Capital Goods Index advanced 1.82 percent, the Banking Index advanced 1.52 percent and the Auto Index was higher 1.50 percent.
Global cues set forth with Asia closing lower in days trade on lower import data by China. India also started lower but alongwith Europe, it rose on the favourable news emanating from the UK and the EU stability fund.
On the individual stock front, RCom rose 7 percent on higher trading volumes. Companies of the Anil Dhirubhai Ambani Group (ADAG) rose in trade on investors response to the IPO of its undersea cable business. OnMobile gained 8 percent on news of its promoter, CEO and MD Arvind rao, resigning from the co. Maruti Suzuki gained in trade as its car sales rose 8.29 percent in June. For Kingfisher Airlines, grace period from its lenders would soon run out of time as SBI led calls to get the co. to infuse equity or cash into the co.
On the earnings front, Indus Ind Bank’s 1Q12 results came in line with expectations.
The Rupee gained 0.47 paise to close at 55.87 to the dollar.
Commodities inched lower during the session with WTI at USD 85.51 down 0.53% and Brent trading at USD 99.58 down 0.74%. On the weather front, hurricane Emilia in the Eastern Pacific has reached category three status.
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(Business Standard, Economic Times and Moneycontrol)
Categories: General News