Sensex ends higher on global market rebound; Wipro surges

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 Sensex ends higher on global market rebound; Wipro surges
Sensex28,091.42Sensex Quote-87.66 [0.31%]
Nifty8,691.30Nifty Quote-17.65 [0.20%]
Markets ended the day higher after global markets rebounded following better than expected economic data from the US.

The Sensex ended the day higher by 14 points, while the Nifty gained 10 points to close at 6493 points. Reliance Industries was a drag on the indices today, falling close to two per cent, after reports that output from the KG basin had dropped after witnessing a rise in the last few months.

Other Nifty stocks to add some pressure on the indices were Hero Motor Corp and Mahindra and Mahindra. Software stocks had a good day in trade with Wipro leading gainers and rallying more than 3 per cent. Other IT stocks that ended substantially higher were TCS and HCL Tech.

Claris Lifesciences which announced a buyback of shares saw buying interest with the stock up 2 per cent in trade.

Axis Bank had a spectacular run in trade after its offer through SUUTI was successfully completed. The Stock ended the day higher by more than 2 per cent.

But the clear outperformers in trade were the metal stocks with Jindal Steel, Tata Steel and Sesa Sterlite all gaining more than 3 per cent.

Private sector banking stocks had a quiet day in trade, even as PSU stocks continued to grind higher. Bank of India, Union Bank and Syndicate Bank were among the winners in trade.

Meanwhile, Asian markets ended the day with good gains with the Shanghai Composite gaining more than 2 per cent, while the Hang Sang closed higher by more than 1 per cent.

Story first published: Friday, March 21, 2014, 14:22 [IST]
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