Sensex Continues Upward Journey; Sun Pharma, HUL Gain

Business

oi-Sunil

By Sunil Fernandes

Published: Thursday, June 11, 2015, 9:59 [IST]

The Sensex continued to make gains for the second day in a row heading for the 27,000 points mark once again, after solid gains were seen in the US and European markets on Wednesday.

Sun Pharma, Hindustan Unilever (HUL) and ICICI Bank were among the early gainers in trade. HUL was up despite reports of withdrawing its Chinese range of noodles.

Early Nifty losers were Tata Steel, Tata Motors, NTPC, HDFC Bank and ITC. Alembic Pharma gained ground after the US FDA gave its nod for Lithium Carbonate (used in depression, bipolar disorder & aggressive behaviour).

Engineers India on the other hand rallied after its Abu Dhabi office won an order worth Rs 150 crore.

Torrent Power also saw buying interest in early trade after shareholder nod for amalgamation of Torrent Energy and Torrent Cables with company. Banking shares were mostly higher led by gains in ICICI Bank, though IndusInd Bank declined after announcing fund raising plans.

PSU banking stocks were seeing good buying interest with Union Bank, Canara Bank, Andhra Bank and Bank of Baroda among the gainers.

Mid cap stocks were also doing well with CESC and IGL among the early gainers. Meanwhile, most of the Asian markets were higher in trade led by the Japanese Nikkei and the Straits Times.

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