For Quick Alerts
For Daily Alerts

Markets surge on strong global cues, gas price hike

 Markets surge on strong global cues, gas price hike
Markets staged a sharp rally in trade once again today as a series of comments from Federal Reserve policymakers that the central bank has time before it starts reducing its bond-buying in the US, sparked a global rally.

The Sensex was trading higher by a staggering 282 points, led by a 7 per cent rally in ONGC and 4 per cent rally in Reliance following a gas price hike by the government.

The other notable gainers were from the auto and two wheeler space including Tata Motors and Bajaj Auto, which both rallied more then 3 per cent.

Software stocks were weak in trade today following notable gains in the Indian rupee. Among the losers from the space were TCS, Infosys and HCL Technologies. Other Nifty losers were Hindustan Unilever.

Banking stocks were in the limelight with notable gainers from the space being Asix Bank, HDFC Bank, ICICI Bank and State Bank of India.

The high beta realty pack also gained with HDIL, Indiabulls and Oberoi Realty gaining 3 per cent each. Bharti Airtel was higher despite reports that the copany had lost the bid for a license in Mayanmar.

Bajaj Finance surged more then 4 per cent after reports that it plans to convert Bajaj Finserv into a bank.

Meanwhile, markets in Asia were trading significantly higher with the Nikkei jumping more then 3.5 per cent.

Read more about: sensex nifty
Story first published: Friday, June 28, 2013, 9:39 [IST]
Company Search
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