Markets end higher; aviation stocks surge

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Markets end higher; aviation stocks surge
Markets ended the day higher led by gains in metals stocks like Tata Steel, Hindalco and Sesa Goa. The Sensex closed with gains of 30 points, while the Nifty gained 9.30 points at 5635 points.

Shares of private sector aviation companies including Jet Airways and SpiceJet were today's star performers on reports that promoters were looking at selling stake in these airlines to foreign companies.

SpiceJet rallied more than 13%, while Jet Airways gained 10%. Shares of Hindustan Copper, was down 20% for the second day in succession, as the divestment offer price by the government in its recent stake sale was way below the current market price.

Shares of GlaxoSmithKline Pharmaceuticals and GlaxoSmithKline Consumer Healthcare both jumped on reports that GlaxoSmithKline Plc plans to buy up to an additional 31.8 percent stake in its Indian consumer products arm.

Index stocks that lost ground in trade today were UltraTechCement, Bhel and BPCL. Mahindra and Mahindra was the top loser in trade today after reports that the company has entered into a takeover deal with an Italian private equity fund for 50 percent of British luxury car maker Aston Martin.

Meanwhile, shares in Asia ended the day mixed with Hong Kong's Hang Sang and the Chinese Shanghai index dropping, while the Japanese Nikkei, Singapore's Strait Times and Taiwan's Taiwan Weighted gained.

Markets in Europe were trading marginally lower.

Read more about: sensex, nifty
Story first published: Monday, November 26, 2012, 15:12 [IST]
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