Sensex Surges On Better Than Expected Monsoon; Reliance Continues Rally

Business

oi-Sunil

By Sunil Fernandes

Published: Friday, June 19, 2015, 9:44 [IST]

Benchmark indices continued their fine rally for the sixth straight day with reports of better than expected monsoon seeing strong buying across sectors.

Reliance continued to lead stocks higher with the heavyweight surging another 1 per cent after a stupendous 4 per cent rally seen on Thursday. Other stocks that lent support included Hindalco, ICICI Bank and BPCL.

The Sensex was trading higher by 165 points, while the Nifty was up 32 points in trade.

Cipla, HDFC Bank and NTPC were the only stocks that were weak in trade from the Nifty. Hindustan Unilever which also had a superb rally in the last few days gave up gains and was down 1.3 per cent on profit booking.

Shares in Premier Explosives were up almost 13 per cent after the company got industrial licence from DIPP for flexible liner shape charge, explosives reacting armour.

DB Realty on the other hand was up 8 per cent after reports of a JV with ECC, Konark for residential project in Mumbai.

Mid cap stocks were having a good session in trade with Britannia and J P Associates among the gainers.

However, Torrent Pharma and Ramco were among the losers from the space.

Meanwhile, most of the Asian markets were trading higher led by gains in the Hang Sang. The Chinese Shanghai Composite continued to drift lower with losses of more than 2 per cent.

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