Sensex Ends Higher Despite Greece Worries

Business

oi-Sunil

By Sunil Fernandes

Updated: Monday, July 6, 2015, 15:37 [IST]

Benchmark indices ended the day higher even as worries over Greece exiting the Euro mounted. The Sensex ended the day with gains of 115 points, while the Nifty ended higher by 37 points in trade.

Leading the set of gainers from the Nifty were pharma stocks led by Dr Reddy's and Cipla. Other notable gainers were Hero Motor Corp and Mahindra and Mahindra.

Metal stocks came under severe selling pressure with stocks like Vedanta and Hindalco losing heavy ground.

According to reports LIC believes Vedanta-Cairn merger is unfavourable for Cairn India, which saw some hammering in the Vedanta stock.

Banking stocks, which were hammered in early trade, managed to recover lost ground. PSU Banking stocks in particular saw good buying interest. IDBI Bank and Allahabad Bank were among the top gainers from the space.

Mid cap stocks also ended the day flat in line with the broad markets. However, CESC and Kansai Nerolac saw some selling pressure in trade.

Unitech, Suzlon Energy, Essar Oil and JP Associates were among the top traded stocks on the NSE.

Meanwhile, markets across Asia opened the day sharply lower, though the Shanghai Composite managed to buck the trend and was trading with gains of almost 2 per cent after policy support helped push indices higher.

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