Markets end higher; Nifty surges past 6300 points

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Markets ended the day higher, following sustained buying in heavyweights including those from banking and infrastructure.

The Nifty closed above the 6300 levels at 6328 points, while the Sensex gained 67 points in trade. Leading the list of winners were ACC, Oil and Natural Gas Corporation, ICICI Bank and Maruti Suzuki.

The stars in trade, however, were some of the PSU banking stocks which gained after Finance Minister P Chidambaram said that there would be capital infusion in PSU banking stocks. Bank of Baroda was the star performer jumping 6 per cent in trade, while other winners were Punjab National Bank, Syndicate Bank and Union Bank of India.

Shares of drug maker AstraZeneca Pharma India plunged nearly 7 per cent in early trade on Bombay Stock Exchange (BSE) ahead of board meeting today to decide on the delisting price.

A few Nifty stocks that lost ground in trade were Mahindra and Mahindra, Tata Power and Bharti Airtel.

State owned iron ore company, NMDC ended the day flat after the company did not announce any hike for iron ore prices for the month of March.

Mid cap stocks in line with the broad markets continued to have a good session in trade with notable gainers being Hindustan Zinc, Steel Authority of India, India Cements and Bharat Forge.

Meanwhile, markets in Asia were trading with substantial gains with the Japanese Nikkei rallying 1.6 per cent, while the Taiwan Weighted was up more than 1 per cent. The Shanghai Composite was however trading with marginal losses.

Story first published: Wednesday, March 5, 2014, 14:21 [IST]
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