Tata Group and Singapore International Airlines joint venture company could...
After a consolidation since day before yesterday, Indian stock market has toughened by hitting the 5300 mark on Nifty, backed by the scrips from oil & gas, FMCG, telecommunication, technology, power and banks.
The 30-share index BSE Sensex surged 144 points to trade at 17,694.
On the other hand, the 50-share NSE Nifty climbed 34 points to rule at 5,312.
Mr. Anil Manghnani of Modern Shares and Stockbrokers anticipate the stock market to make recovery and make attempts to reach 5400 levels; may even try 5440.
But post that, Mr. Anil anticipates the descending trend to start again.
Heavyweights including RIL and ONGC from oil & gas section gained 2.4% & 1%, respectively.
Scrips of key banking institutions including SBI and ICICI Bank surged around 1%.
Among largecaps, ITC, TCS, Wipro, NTPC, Bharti Airtel, Infosys, Sterlite Ind, HUL, SAIL, DLF, Tata Motors and RCom remained up by 1-2%.
But, the sell-off proceeded in the stocks of BHEL, Maruti Suzuki, Axis Bank, HDFC, IDFC and Bajaj Auto.
Healthcare scrips were also witnessing selling action due to profit booking.
Sun Pharma, Dr Reddy's Labs, Ranbaxy Labs and Cipla stayed down by 1 to 1.5%.
Among midcaps, Pipavav Shipyard, Jain Irrigation, Sadbhav Engg, MVL and Century Textiles gained 3 to 6% whilst SKS Microfinance, Havells India, GTL, India Cements and Vardhman Textilise dropped 4-5%.