Sensex Ends Higher As Heavyweights ITC, Reliance Rally

Updated: Monday, May 18, 2015, 15:33 [IST]

The Sensex began the week on a good note notching smart gains of 363 points led by heavyweight Reliance, ITC and Infosys. Global cues particularly a rally in European markets also helped boost sentiments. The Sensex ended the day with gains of 363 points, while the Nifty rallied 111 points in trade.

Sensex Surges As Heavyweights ITC, Reliance, Infy Rally

Indices

Timely forecast of monsoons also helped boost sentiments. The MET department forecast that rains would hit Kerala on May 30, 2015.

Apart from ITC and Reliance other stocks that gained were Tata Power, Dr Reddy's and GAIL. Infosys and HDFC Bank also gained more than one per cent and some traction was seen in these stocks after a long time.

The losers from the Nifty included stocks like Hero Motor Corp, Coal India, Tata Motors and Cipla. Banking stocks also saw some gains as analysts were betting on a rate cut after forecast of good monsoons.

IndusInd Bank, Yes Bank and HDFC Bank were among the winners. PSU banking stocks which have seen a smart rally in the last few trading sessions lost ground and ended the day with losses. Canara Bank, Oriental Bank and Union Bank were among the losers.

Meanwhile, markets across Europe were trading with gains led by the German DAX and the French CAC.

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