For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Markets stage smart rally; heavyweights gain

|
Markets stage smart rally; heavyweights gain
Markets staged a smart rally on buying support in frontline stocks and on spectacular gains across Asia. The Sensex jumped 181 points, while the Nifty rallied more than 58 points. Among the stocks that led the gains were heavyweight stocks including SBI, L&T, ICICI Bank and ITC.
 

Strong closing across Asia and higher markets across Europe also led to the sharp rally. Shares of telecom stocks, however, were weak following the Telecom Commission's decision that all spectrum given to operators in the 900-MHz band would be re-farmed to the 1,800-MHz band at the time of renewal of licences, beginning 2014.

Bharti Airtel, Idea Cellular and Reliance Communications all closed the day with losses. Kingfisher Airlines too lost significant ground in trade today as investors remained worried over the extension of lockout at the company.

Software stocks Mphasis fell following reports that the NSE would drop the company from the F&O segment w.e.f. December 28, 2012.

AstraZeneca Pharma which launched its heart drug Brilinta in India gained following the news. Nifty stocks which saw maximum gains in trade were Axis Bank, Jaiprakash Associates, Tata Power and Bank of Baroda.

Meanwhile, shares in Europe were trading higher with the German DAX and the UK's FTSE higher. Markets are expected to continue to trade higher with increased volatility and largely follow global cues.

GoodReturns.in

Read more about: sensex nifty
Company Search
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more