Sensex, Nifty End Higher On Hopes Of Good Monsoons

Benchmark indices ended the day higher led by strong gains in banking and auto stocks. Indices posted strong gains for the second day running on hopes that the monsoon would be better this year, as predicted by a private forecaster.

The Sensex ended the day with gains of 123 points, while the Nifty rallied 38 points in trade. Banking stocks ended the day higher ahead of inflation data due later today. There are hopes that the CPI inflation for March would be benign once again. ICICI Bank led gainers in trade along with Axis Bank.

Shares in kitchenware company, TTK Prestige jumped as much as 5 per cent on the BSE, after the company said that its subsidiary, TTK British Holdings Ltd had acquired Horwood Homewares Ltd.

Shares in Coal India saw some serious selling pressure and the stock hit a new 52-week low of Rs 271.65 on the National Stock Exchange.

Among non index stocks, the recently listed HCG, saw good buying support with the stock gaining as much as 4 per cent.

Hero Motor Corp shares jumped 2 per cent in trade on hopes that normal monsoons would push rural demand for its 2-wheelers. Other auto stocks also had a good day with Tata Motors and Maruti seeing good buying support.

Meanwhile, markets across Asia ended the day higher, while most of the European indices were trading flat.

GoodReturns.in

Story first published: Tuesday, April 12, 2016, 15:31 [IST]