Markets gain amid volatile trades
The markets have closed the volatile session on a firm note on Thursday, as the global stocks aided the rally. The analysts see Indian economy on a strong footing than earlier, while they ask the investors keep away from the stocks have global exposure.
Mumbai: The markets have closed the volatile session on a firm note on Thursday, as the global stocks aided the rally. The analysts see Indian economy on a strong footing than earlier, while they ask the investors keep away from the stocks have global exposure.
Meanwhile, the market focus shifted to the forthcoming budget session as the budget session to commence on February 23 while the general budget will be presented on February 29.
Sensex gained 115 points to close at 24,338 and Nifty up 42 points at 7,505. However, the broader markets underperformed with midcap and smallcap indices down by 0.2 per cent and 1 per cent, respectively.
On the sectoral front, metal index gained by 2.48 per cent followed by capital goods up by 1.93 per cent and industrial index gained 1.12 per cent, on the other hand, healthcare down by 1.56 per cent and realty slipped by 0.30 per cent.
The oil exploration majors closed higher with Cairn India, ONGC and Oil India gained by about 6 per cent, as the crude prices zoom. Also auto major Tata Motors gained as the rating agency CLSA maintained buy call, however, Bajaj Auto slipped by 2 per cent. Other index heavyweights Infosys, L&T, HDFC Bank, HDFC gained up to 2 per cent, while Tata Steel closed down.
The gainers: ONGC, up 3.28 per cent at Rs 220.10; Asian Paints, up 2.93 per cent at Rs 888.70; Larsen & Toubro, up 2.58 per cent at Rs 1,136.05; and Adani Ports, up 2.24 per cent at Rs 214.60.
The losers: Lupin, down 2.80 per cent at Rs 1,652.10; NTPC, down 2.14 per cent at Rs 126; Cipla, down 1.98 per cent at Rs 550.25; and State Bank of India, down 1.81 per cent at Rs 163.05.