Sensex Gains 500 Points, Cement Stocks In Action

There was some respite in the markets today, after the Sensex and the Nifty gained almost 1% in trade. The Sensex was trading above the 53,000 points mark with gains of 500 points, while the Nifty rallied 150 points on the back of strong global cues. The broader markets were also positive. The BSE MidCap and SmallCap indices were up to 1 per cent higher.

Sectorally, Metals, Auto, Realty, Energy and PSBs gained the most on Nifty, up 1-2per cent. On the flip side, Pharma, FMCG and IT pockets were weak.

Shares of Ambuja Cement rallied up to 5 per cent on the National Stock Exchange after the Adani Group announced the acquisition of Swiss cement major Holcim's stake in all its Indian operating entities for $10.5 billion (around Rs 81,361 crore), including the open offers.

Shares in other cement makers like Ultratech Cement and Shree Cement on the other hand dropped in trade.

Eicher Motors was the top gainer, and rallied 6%, following a good set of numbers. State Bank of India, whose stock had fallen sharply on Friday after its quarterly results gained ground. The shares were up 3% in trade non Monday.