BSE Sensex logs 2013's biggest rise, ends at one-month high, Nifty up 82 pts

Mar 08 2013, 19:09 IST
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Around 25 entities gained in the 30-share Sensex which was led by HDFC, ITC, HDFC Bank and RIL. (Reuters) Around 25 entities gained in the 30-share Sensex which was led by HDFC, ITC, HDFC Bank and RIL. (Reuters)
SummaryAround 25 entities gained in the 30-share Sensex which was led by HDFC, ITC, HDFC Bank and RIL.

VP & Senior Technical Equities Analyst, Motilal Oswal Securities.

Rate-sensitive sectors like banking, auto and realty also recovered from lower levels. "We expect repo rate cut of 0.25 per cent in forthcoming monetary policy review," said Amar Ambani, Head of Research, IIFL.

Meanwhile, Asian stocks closed mixed with upward bias as Japan's economy returned to growth and jobless claims in the US dropped, adding to signs that global economy is recovering.

Key benchmark indices in Hong Kong, Japan, South Korea and Taiwan rose while from China and Singapore declined.

European markets, however, trading higher in early deals.

The CAC was up by 0.75 per cent, the DAX by 0.53 per cent and the FTSE by 0.31 per cent.

Turning to the local market, 25 scrips in Sensex ended higher while 5 counters finished lower.

Major Sensex gainers were Jindal Steel (5.73 pc), HDFC (4.04 pc), Gail India (2.91 pc), HDFC Bank (2.44 pc), Tata Steel (2.36 pc), Coal India (2.32 pc), L&T (2.23 pc), ITC (2.07 pc), M&M (1.97 pc), RIL (1.84 pc), ICICI Bank (1.82 pc),

ONGC (1.77 pc), Hero Motocorp (1.73 pc), SBI (1.64 pc), Cipla (1.35 pc), HUL (1.17 pc) and Bajaj Auto (1.10 pc).

However, Maruti Suzuki dropped by 1.64 per cent and Infosys by 1.15 per cent.

Among the sectoral indices, the S&P BSE Oil&gas rose by 2.0 per cent, followed by S&P BSE-FMCG (1.93 pc), S&P BSE-Metal (1.77 pc), S&P Bankex (1.72 pc), S&P BSE-CG (1.57 pc), S&P BSE-PSU (1.41 pc) and S&P BSE-Power (1.05 pc).

The total turnover rose to Rs 2,149.54 crore from Rs 1,930.62 crore yesterday. FIIs picked up shares worth Rs 630.47 crore yesterday as per provisional data with stock

exchanges.

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