Nifty Ends Higher As Global Markets Stage A Rally

Updated: Wednesday, June 29, 2016, 15:35 [IST]

Benchmark indices staged a rally in trade today, as Asian markets closed higher while markets in Europe were trading firm.

Nifty Ends Higher As Global Markets Stage A Rally

The Sensex ended trade 215 points higher, while the Nifty gained 76 points in trade. Leading the set of gainers in trade from the Nifty were Hero Motor Corp, which gained after the Union Cabinet approved the 7th Pay Commission. The belief is that this could help the two-wheeler major as disposable income increases.

DLF too gained ground in trade with a jumped of near 8 per cent, after reports that the promoters would infuse fresh funds to wipe of the Rs 10,000 crores debt.

Shares in Bosch also gained after reports that that the company's boad would meet shortly to consider a buyback. The stock was up almost 4 per cent in trade.

ICICI Bank saw good buying support after reports that the company would be launching an IPO of ICICI Prudential in Sept.

Midcap stocks were having a good session in trade with winners being Mahindra and Mahindra Financial Services, Canara Bank and STAR.

Hindustan Unilever and ITC were the major losers from the Nifty space. Bharti Airtel and Lupin were the other losers in trade.

Meanwhile, markets across Europe were trading with gains, with German Dax and the French CAC leading the gainers in trade. The rupee was trading with gains at 67.67 to the US dollar.

GoodReturns.in