Sensex closes above 20,000 points; oil stocks rally

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Sensex closes above 20,000 points; oil stocks rally
The Sensex closed above the 20,000 levels, led by a sharp rally in oil stocks, notably ONGC, BPCL, HPCL and Oil India, after the government allowed oil marketing companies to hike diesel prices.

The Nifty gained 25 points, while the Sensex gained 75 points in trade. Shares of Wipro, which reported a better than expected quarterly performance plunged in trade by more than 7 per cent on profit taking.

Shares of HeroMotor Corp declined by almost 3 per cent, after the markets were disappointed by the company's results. HDFC Bank which also reported quarterly numbers as per street expectations declined on profit booking.

Shares of ITC, however, ended the day firm, thanks to the company reporting a decent set of numbers. Reliance Industries ended the day with gains, ahead of its results to be declared later this evening.

Banking stocks ended the day mixed with prominent losers in trade being private sector names like Indusind and Yes Bank, while shares of State Bank of India and Bank of Baroda rallied.

Metals stocks came in for some selling pressure with Sterlite Industries, Hindustan Zinc, Sail and Sesa Goa declining.

Among non index stocks Exide Industries tanked 8.84 per cent, after its quarterly results disappointed the markets.

Realty stocks continued to see buying interest on speculative activity and on hopes of a revival in the sector. Realty stocks that gained included HDIL, Oberoi Realty and India Bulls. Shares from the sector that lost ground were Phoenix Mills, Godrej properties and Anant Raj.

The BSE Healthcare Index ended the day in the red with Dr Reddy's Laboratories, Wockhardt and Sun Pharma witnessing selling pressure.

Meanwhile, markets in Asia ended the day with gains led by the Japanese and the markets in Hong Kong. European indices were trading in the positive, except the German DAX which was trading with marginal losses.

Read more about: sensex, nifty
Story first published: Friday, January 18, 2013, 15:05 [IST]
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