Sensex closes 178 points higher; Axis Bank, L&T top gainers
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Mumbai: India’s benchmark index, S&P BSE Sensex, rose for the second consecutive day on Wednesday, led by shares of capital goods, healthcare and power companies, and banks.
The 30-share Sensex closed 0.63%, or 178.35 points, higher at 28,533.97, while the National Stock Exchange’s broader 50-share CNX Nifty gained 0.72%, or 61.85 points, to end at 8,627.40.
Investors were cautious a day ahead of the Index of Industrial Production (IIP) and Consumer Price Index (CPI) data. The government will issue CPI and IIP data on 12 February after 5.30pm. A Bloomberg poll expects CPI-based inflation to rise to 5.5% for January from 5% in December and factory output to grow by 1.8% in December from 3.8% in November.
Among the gainers, Axis Bank Ltd rose 2.87% to Rs.569.60, Larsen and Toubro Ltd (L&T) advanced 2.57% to Rs.1,614.20, while Maruti Suzuki India Ltd added 2.10% to Rs.3,463.95.
Among the losers, Oil and Natural Gas Corp. Ltd (ONGC) fell 2.63% to Rs.345.60, while Bharat Heavy Electricals Ltd (Bhel) shed 2.41% to Rs.255.20.
Among the sectoral indices, S&P BSE Capital Goods index was the top sectoral gainer up 2%, followed by the S&P BSE Metal index, which was up 1.68%.
Fortis Healthcare Ltd rose 20% to Rs.138.90 after Bloomberg reported a huge block deal executed on the counter on the exchanges. Around 4.42 million equity shares or 1% equity of the company were reported to have changed hands in two block deals. Further details of buyers and sellers were not available.
Suzlon Energy Ltd rose 1.42% to Rs.17.80 after news report said the company is in talks with PV Power Technologies Pvt. Ltd, which makes solar energy panels, for a possible merger or stake purchase.
Bharat Electronics Ltd rose 4.5% to Rs.3,499.75. Rolta India Ltd rose 6.31% to Rs.117.90 after news reports said a consortium led by the company had been shortlisted by the defence ministry for a Rs.40,000-crore project.
Entertainment Network India Ltd rose 10.65% to Rs.611, after the company posted a 27% increase in its net profit— to Rs.328.35 crore in the December quarter as compared to Rs.258.85 crore a year ago. The company also exploring merger and acquisition opportunities in the FM broadcasting space.
Credit Analysis and Research Ltd lost 0.53% to Rs.1,609.95, after the company posted a 6.3% drop in its net profit to Rs.26.24 crore in the December quarter as compared to Rs.28.02 crore a year ago.
So far in 2015, the Sensex has gained 3%, while foreign institutional investors have bought $2.68 billion from local equity and $4.45 billion from bond markets.
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Since the inaugural Chang’s mission in 2007, named after the legendary Chinese moon goddess, China has made substantial strides in its lunar exploration efforts, narrowing the technological divide with the United States and Russia.
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The Japanese yen hit its weakest levels since April 1990 on Monday, in trading thinned by a holiday in Japan and attempts by traders to test key levels and stop-loss orders in a nervous, illiquid market.
The dollar rose as far as 160.245 yen in a sudden move after the yen traded in a narrow 158.05-158.15 range in early deals.
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Veteran politician, BJP MP and former Union Minister V Sreenivasa Prasad died on Monday, family sources said.
The 76-year-old Lok Sabha member from Chamarajnagar was ailing for some time and being treated at a private hospital, where he passed away early today.
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