- BSE Sensex surges 506 points, Tata Motors, HDFC Bank, Bharti Airtel shares soarIndian rupee fails to maintain initial gains against US dollar, down 11 paiseBSE Sensex dips 182 points on profit-taking, Infosys, RIL, ICICI Bank fallSensex falls around 200 points on profit-taking after 5-day rally
Ltdslumped 11.6 percent after earlier rising as much as 2.1 percent on profit-taking. It agreed to sell its cement plant to UltraTech Cement Ltd on Wednesday.
Jaiprakash Associates Ltd' shares had risen about 27 percent in the previous five sessions in anticipation of such a sale, dealers said.
Shares of Tata Motors, India's largest automaker by revenue, fell 2.1 percent after the company said on Wednesday its global wholesale vehicle sales fell 16 percent on year in August, hit by a drop in passenger vehicle sales.
Oil & Natural Gas Corp (ONGC) fell 3.6 percent after India's oil secretary said India will decide on raising the retail prices of diesel and cooking gas in a few weeks, disappointing traders who were looking for an immediate decision.
Among the gainers, IDFC Ltd shares rose 2.8 percent after the Reserve Bank of India on Wednesday lifted restrictions placed on foreign investors purchasing the company's stock as their shareholding fell below the prescribed limit Shares in HDFC Ltd ended 0.3 percent higher after earlier falling as much as 2.3 percent as FTSE increased its "investability weight" to 100 percent from 74 percent in its global equity index series, as per its website.
Sanjeev Zarbade, Vice President- Private Client Group Research, Kotak Securities: Going ahead, we have the IIP data and CPI reading coming up (post market hours). Beyond this, the FOMC meeting scheduled on Sep 17-18 would be important. If the Fed tapering is on the lighter side than what was previously expected, Sensex could look at consolidating the recent gains. Meanwhile, Bank Indonesia has raised its benchmark interest rate by 25 basis points to 7.25 percent today. The move comes as a surprise as it was widely expected that the central bank would keep rates on hold after it raised the benchmark rate by 50 basis points in late August in