Sensex Surges Past 26,000 Points; Investors Eye F&O Expiry

Business

oi-Sunil

By Sunil Fernandes

Published: Thursday, May 26, 2016, 9:27 [IST]

Benchmark indices continued from where they left on Wednesday with strong buying interest across the globe, pushing stock prices higher in Asia and around the globe.

The Sensex was trading with gains of 63 points at 25944 points, while the Nifty was up 15 points in trade. The Sensex had crossed the 26,000 points mark in early trade.

Markets are expected to trade volatile through the day, given the fact that the expiry for the May series in the F&O segment is today.

Shares in Larsen & Toubro which has been languishing for many months now, rallied after the company reported a solid growth in earnings. The stock was up 8 per cent in trade.

Tata Steel, however, was trading lower after the company quarterly losses mounted and results lagged estimates. The stock was down 1 per cent in trade.

Gail too gained ground after its results largely beat analysts forecast. National Aluminium saw some selling pressure despite the board having approved a buyback of shares.

Thermax was lower after the company's results largely disappointed the street.

Cipla, which had dropped sharply on Wednesday, following a disappointing set of numbers was trading with gains. The stock managed to recover a tad bit.

VRL Logistics, which lost almost 35 per cent in two trading sessions, managed to gain ground and was 3 per cent higher.

Midcap stocks were trading with gains after having a bad couple of weeks. Meanwhile, markets across Asia were trading with gains, following a good show across Asia.

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