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Sensex Ends 300 Points Higher; Hindalco Leads
Benchmark indices ended the day higher, led by smart gains in metal stocks. Most markets across the globe were steady, including the Asian and the European markets.
The Sensex ended the day with gains of 292 points, while the Nifty ended the day with gains of 97 points. Leading the set of gainers in trade were stocks like Hindalco, Axis Bank and Hindustan Unilever.
PC Jeweller was one stock that saw tremendous volatility in trade today, amidst heavy volumes and speculative interest. The stock ended the day higher by a huge 30 per cent. The company had announced a buyback of shares and has now preponed the date for the same.
Shares in Reliance Infrastructure gained ground after the company bagged the Versova-Bandra sea link. RIL also gained ground on the back of rising crude prices, along with ONGC. Both the companies have exploration activities, though Oil and Natural Gas Corporation is amongst the largest oil exploration majors in the country.
Soya manufacturer, Ruchi Soya surged as much as 4 per cent in trade, after a huge block deal in the company.
Pharma major Wokhardt, saw its share price dive by as much as 7 per cent, after numbers at the company largely lagged estimates. The company reported a loss for the quarter ending March 31, 2018.
Meanwhile, most Asian markets ended the day higher, while Europe was trading with modest gains. The German DAX, the UK's FTSE and the French CAC were all higher. The rupee was seen trading marginally higher at 67.86 to the dollar. Indian markets are now expected to take cues from the opinion polls for the Karnataka elections due on Sunday.
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