GST hopes buoy markets
The stocks markets gained on the last day of November F&O series with the support of energy and metal stocks. The markets rebounded after a fall in the last two sessions on hopes of passage of GST in the winter session.
Mumbai: The stocks markets gained on the last day of November F&O series with the support of energy and metal stocks. The markets rebounded after a fall in the last two sessions on hopes of passage of GST in the winter session.
Experts see the upward journey to continue, though the overall situation of the December series expected to be bad for the market. The markets will be influenced by the economic activity such as RBI policy, Fed meet and winter session of Parliament.
The sensex closed by 183 points higher at 25,959 and Nifty gained 52 points to end at 7,884. Meanwhile the broader markets underperformed benchmarks although the midcap and smallcap gained 0.3 per cent and 0.5 per cent, respectively. According to the data with bourses, FIIs sold stocks amounting to Rs 398 crore and DIIs bought shares worth Rs 948 crore. Sectorally, auto, consumer durables and Oil & Gas indices gained, while healthcare and capital goods indices came under selling pressure.
From auto pack, Hero Motocorp closed over 1.5 per cent and its peers Tata Motors zoomed over 5 per cent, M&M closed 2 per cent higher. In the financial segment, Axis Bank raises up as the bank got approval to operate as trade receivables discounting system, while ICICI Bank and SBI added 0.3 per cent each.
As the Bihar state has announced ban on liquor sale within the state, the liquor makers Radico Khaitan and United Spirits down up to 8 per cent. Among others, ITC, RIL, ONGC and Gail gained up to 3 per cent, while Lupin and TCS fell over one per cent.
The gainers: Tata Motors, up 5.51 per cent at Rs 423.15; Sun Pharma, up 3.96 per cent at Rs 735.95; Gail, up 3.33 per cent at Rs 367.70; Mahindra and Mahindra, up 2.06 per cent at Rs 1,345.10; and Reliance Industries, up 2.04 per cent at Rs 987.70.
The losers: Dr Reddy's Lab, down 8.21 per cent at Rs 3,110.35; Lupin, down 1.24 per cent at Rs 1,837.35; Tata Consultancy Services (TCS), down 1.05 per cent at Rs 2,345.15; Bajaj Auto, down 0.66 per cent at Rs 2,462.40; and Maruti Suzuki, down 0.63 per cent at Rs 4,611.40.