Sensex, Nifty end higher; Tata Steel surges

Updated: Friday, February 7, 2014, 15:32 [IST]

Markets ended the day higher following strong economic data from the US overnight and an across the board rally from Asia.

The Nifty ended the day higher by 27 points, while the Sensex gained 70 points in trade (provisional).

Nifty gainers were led by Jaiprakash Associates, Tata Steel, Sun Pharma and DLF. Software stocks on the other hand added some pressure on the Nifty with Tata Consultancy Services and Wipro being among the losers.

Heavyweights, ITC and Reliance Industries also lost ground in trade. Hindustan Unilever, which had witnessed smart gains on Thursday was among the losers in trade.

Patel Engineering rallied for a second day in a row after the company received a substantial order. Aurobindo Pharma also gained ground after the company reported a more than 4 fold increase in net profit. The stock was up more than 2 per cent in trade.

Real estate stocks saw some buying interest with DB and Indiabulls Realty joining DLF higher. PSU Banking stocks ended the day mixed with Canara Bank and Syndicate Bank falling, while Bank of Baroda jumped more than 4 per cent, following its results.

Mid cap stocks had a good day in trade with most of the mid cap stocks ending the day with gains. Among the stocks that saw buying interest were India Cement, UPL, Tata Chemicals and Steel Authority of India.

Meanwhile, markets across Asia rallied following a sharp rally in the US. The Japanese Nikkei and the Hong Kong's Hang Sang were the top gainers in trade.

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