Sensex ends above 21,000 points; Hindalco surges 6%

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Sensex ends above 21,000 points; Hindalco surges 6%
The Sensex and the Nifty ended the day higher on sustained buying in blue chips with the Sensex closing above the 21,000 points once again.

Tata Motors, a Tata Group company, along with TCS surged 4 per cent in trade on heavy buying support.

The star in trade was Hindalco, whose share price ended 7 per cent higher.

However, other software stocks like HCL Tech and Wipro fell and did not lend support to the indices. Among the top Nifty loser was Maruti, which slumped on worries over the understanding with parent company over its Gujarat plant.

Jaiprakash Associates, which fell sharply in early morning trade, after news that it would be excluded from the Nifty ended the day higher.

Ranbaxy Labs, which was also dropped from the Nifty ended the day 0.5 per cent lower. Banking stocks saw some recovery towards the end of trade and ended the day higher led by strong gains in Bank of Baroda, Axis Bank, Punjab National Bank and Bank of India.

Hero Motor Corp, Grasim and HDFC Bank were among the top losers in trade today.

Tech Mahindra, which will be included in the Nifty with effect from March 28, ended the day higher. Midcap stocks ended the day higher with a strong rally seen in stocks like Sun TV Network and Biocon.

Meanwhile, markets across Asia ended the day higher, even as the US saw the S&P 500 closing at a new record high.

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