Sensex Ends Higher Despite Global Weakness; Awaits IIP Data

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Benchmark indices ended the day higher, as markets digested the adjustments to the Mauritius Tax Treaty and despite global cues being weak.

Sensex Ends Higher Despite Global Weakness; Awaits IIP Data
The Sensex ended the day higher by 193 points, while the Nifty gained 51.55 points. Stocks like ICICI Bank ended the day sharply higher after the Rajya Sabha passed the Bankruptcy Bill.

Apart form ICICI Bank, other banking stocks that jumped were IndusInd Bank and State Bank of India. However, select PSU banks continued to remain weak, with notable names being Punjab National Bank and Axis Bank.

Shares in Tyche Industries was the star performer in trade today after the company said that it has received the USFDA approval for API facility at Kakinada. The stock was locked at the upper end of the circuit filter.

Asian Paints rallied for a second day in a row after the company reported a good set of numbers. Hindustan Unilever, HDFC, Maruti Suzuki and Mahindra and Mahindra were the top losers in trade.

Syndicate Bank was the top loser from the PSU banking space, dropping almost 4 per cent in trade. Mid cap shares had a good session in trade with Apollo Tyres surging 4 per cent and IRB gaining 2 per cent in trade.

Meanwhile, most of Europe was trading higher after opening with deep cuts. The German DAX, French CAC and the UK's FTSE were trading with gains of half a per cent.

GoodReturns.in

Read more about: sensex, nifty
Story first published: Thursday, May 12, 2016, 14:57 [IST]
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