Markets End Higher; Metal Stocks Lead Gainers

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Benchmark indices ended the day higher led by strong gains in metal stocks. Most Asian markets ended the day higher, while European markets were trading with gains of more than 1 per cent.

Markets End Higher; Metal Stocks Lead Gainers
Gains were largely on the back of a strong showing by Democratic US Presidential, nominee Hilary Clinton. Global markets had turned volatile in the last few days, as acton had shifted to politics.

The Sensex ended the day higher by 75 points, while the Nifty gained 30 points in trade.

Leading the set of gainers were metal stocks like Hindalco, Tata Steel and Vedanta.

Reliance Industries, which was the star in trade on Tuesday, managed to see some selling pressure and ended the day lower. Other notable losers in trade were Coal India and Sun Pharma.

Shares in Aurobindo Pharma saw some buying support after the company got US FDA nod for Levonorgestrel- Ethinyl Estradiol oral tablets, Zoledronic acid, Norethindrone tablet.

Among the smaller cap stocks, Nandan Denim surged more than 10 per cent, after the company received shareholders approval to increase the FII limit in the company to 49 per cent.

ARSS Infra was another stock that saw good buying support after the company bagged an order worth Rs 135.45 crore from railways.

Meanwhile, the rupee continued to exhibit a very strong trend and was trading at 66.45 to the US dollar. This is certainly not good for Indian exporters.

Read more about: markets, metals
Story first published: Wednesday, September 28, 2016, 15:02 [IST]
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