Mkts shrug off fears of Greece exit

Mumbai: Grexit fears notwithstanding, the stock market indices have closed on a positive note led by pharma and select heavyweights like TCS. Sensex closed 115 points higher at 28,209 and Nifty ended up 37 points at 8,522. Meanwhile, the broader markets outperformed with midcap and smallcap indices closed up 0.9 and 1.1 per cent respectively.

On global cues which influenced Monday's trade, the post announcement of referendum results, the Greece Finance Minister Yanis Varoufakis resigned, although the government won the referendum on bailout conditions. On the sectoral front, the healthcare index gained over 1.7 per cent followed by oil and gas and realty indices, also consumer durables and metal indices declined most among losers.

While heavyweights like Reliance Industries gained over 1 per cent and ITC closed higher 0.9 per cent. On the banking space, ICICI Bank, HDFC Bank and SBI reported gains up to 1 per cent each. On the IT space, Infosys closed down 0.7 per cent and Wipro down 0.3 per cent, however, TCS regained intra-day to close 1 per cent higher ahead of first quarter results scheduled to be released on Thursday.

Aravind Remedies shoot 20 per cent upper circuit as the board is expected to meet to consider investment proposal. Similarly, Tilaknagar Industries also zoomed to 20 per cent on the reports that Chhabria owned Allied Blenders plans to acquire the company.

The gainers: Dr Reddy's Lab, up 3.64 per cent at Rs 3,711.75; Cipla, up 3.35 per cent at Rs 652.55; Hero MotoCorp, up 1.34 per cent at Rs 2,612.40; Tata Consultancy Services (TCS), up 1.07 per cent at Rs 2,632.80; and Lupin, up 1.05 per cent at Rs 1,920.40.

The losers: Vedanta, down 4.45 per cent at Rs 163.05; Hindalco Inds, down 1.36 per cent at Rs 109.05; Tata Steel, down 0.73 per cent at Rs 298.75; Infosys, down 0.65 per cent at Rs 983.50; and NTPC, down 0.65 per cent at Rs 137.95.