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Jul 30, 2012, 02.12 PM IST
The BSE Sensex and NSE Nifty extended gains to 1.5% in the afternoon trade, supported majorly by ICICI Bank and State Bank of India. Infosys, L&T and Tata Motors too were quite supportive. However, Wipro remained top loser, falling more than 1%.
Top commercial vehicle maker Tata Motors topped the buying list, shooting up 4%. Country's largest lenders State Bank of India and ICICI Bank climbed nearly 4% ahead of the Reserve Bank of India's monetary policy review for the June quarter. Private sector lender Axis Bank surged over 4%.
Engineering and construction major Larsen & Toubro and state-owned power equipment manufacturer gained 3% each. Infrastructure companies like Reliance Infrastructure and JP Associates were up nearly 4%.
Infosys, India's No. 2 software services exporter Infosys rose 2.6% and top telecom operator Bharti Airtel was up 1%. Shares of M&M, Sun Pharma, Tata Steel, NTPC, Cipla, Jindal Steel and Tata Power moved up around 2%.
Oil & gas producer Reliance Industries went up 1% and cigarette major ITC was up 0.7%.
In the second line shares, Oriental Bank, Shree Global, IRB Infrastructure, Jet Airways and Sobha Developer shot up 5.5-8% whereas Responsive Industries, Elantas Beck, Glodyne Tech, Redington and Puravankara Projects lost 4.7-7%.
The BSE Sensex was trading at one-week high due to consistent buying interest in banks, metals, capital goods, power and healthcare stocks. Among technology stocks, Infosys (India's No. 2 software services exporter) rose over 1% whereas its rivals Wipro and TCS were down 2.5% and 0.7%, respectively.
Indian shares retained their early gains led by buying interest in ICICI Bank, Infosys and L&T. ITC, Reliance Industries, Bharti and SBI too were quite supportive.
May 22 2013, 13:11
- in MARKET OUTLOOK
May 22 2013, 10:44
- in Economy