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Nifty ends higher as HUL stages smart rally

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 Nifty ends higher as HUL stages smart rally
Benchmark indices ended the day higher today, thanks to a surge in the stock price of Hindustan Unilever, following an open offer by the parent company to hike a stake in it.
 

The Sensex ended the day higher by 102 points, while the Niftry gained 26 points in trade. HUL ended the day higher by 18 per cent, after the parent company fixed the open offer price for the company at Rs 600 per share. Along with HUL, heavyweight ITC also gained ground on hopes of improving numbers for the company.

Other stocks that gained from the Nifty were Axis Bank, ITC, HCL Tech, Cairn India and Lupin. Nifty stocks that lost ground were Jaiprakash Associates, HDFC Bank, Punjab National Bank, Reliance Infra, Larsen and Toubro and Bank of Baroda.

Sterlite Industries was among the gainers after a surge in net profits for the fourth qaurter surprised analysts.

Maruti which had rallied sharply in the last few trading sessions, following a spectacular set of results took a breather.

PSU banks saw some heavy selling pressure with most of the banks in the space taking a cut of more then 2 per cent. Prominent among these were Allahabad Bank, Oriental Bank of Commerce, Punjab National Bank and Canara Bank.

The Mid Cap Index was under selling pressure with the index losing ground today. Shares from the space that lost ground were GMR Infra, IFCI, Opto Circuits, Reliance Power and Sintex.

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