Sensex Reclaims 28,000 Points; Hero Motor Rallies

Benchmark indices gained ground in trade following a drop in crude prices on hopes that the nuclear deal with Iran would push crude prices lower.

The Sensex was trading with gains of 115 points, while the Nifty rallied 27 points in trade. Hero Motor Corp was the top gainer in trade gaining more than one per cent. Banking shares were absolutely flat in after CPI inflation data for June poured water on expectations of an interest rate cut.

Shares in Yes Bank and IndusInd Bank were both lower. Development Credit Bank, which lost as much as 4 per cent on Tuesday following an increase in non performing assets, dropped another 3 per cent in trade today.

IT stocks saw some buying support with TCS, Infosys, Wipro and Tech Mahindra among the gainers. Shares in SUN TV fell 2 per cent, following reports that the company may not be allowed to participate in radio auctions.

Coal India continued to gain for a second day in a row on sustained buying.

Meanwhile, markets in Asia were trading lower despite upbeat economic data from China. The Chinese Shanghai Composite dropped almost 2 per cent in trade, while the Hang Sang and the Kospi also slipped.

GoodReturns.in

Story first published: Wednesday, July 15, 2015, 9:29 [IST]

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