Sensex Ends Higher As Reliance, Infosys Surge

Updated: Wednesday, January 13, 2016, 15:32 [IST]

Benchmark indices ended the day higher after a surge in global markets including the European and the Asian indices.

Strong cues from across Asia and a stability in crude prices fuelled a rally across Asia with the Seoul Composite, the Hong Kong's Hang Sang and the Japanese Nikkei ending the day higher.

Sensex Ends Higher As Reliance, Infosys Surge

The Sensex ended the day with gains of 172 points, while the Nifty rallied 52 points in trade. Leading the set of gainers was heavyweight Infosys, which is due to declare its results later tomorrow. Reliance Industries also gained ground with the stock hitting a new 52-week high in trade.

Banking stocks continued to show some weakness with State Bank of India, ICICI Bank, PNB, Bank of Baroda and Canara Bank all hitting fresh 52-week lows in trade.

IndusInd Bank saw a smart rally in trade, after the company's stock was upgraded by a few brokerages.
Shares in TCS hit a fresh 52-week low in trade, after the company reported quarterly numbers that lagged estimates.

Mid cap stocks which had run-up sharply continued to be battered with the index falling as much as 2 per cent in trade. Ajanta Pharma, Reliance Infra, JSW Energy and Oriental Bank of Commerce were the biggest losers from the space.

Meanwhile, markets across Europe were seeing substantial gains in trade with the German DAX up more than one per cent and the French CAC up more than one per cent in trade.

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