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Jun 15, 2012, 12.32 PM IST
The NSE Nifty touched the 5100 level due to consistent buying in index heavyweight Reliance Industries, ICICI Bank and Infosys. The Indian rupee too appreciated by 7 paise to 55.73 as against the US dollar.
Reliance Industries, India's most valued stock gained 1.46% and second largest software services exporter Infosys went up 0.9%.
Private sector lender ICICI Bank surged 2% while its rivals State Bank of India and HDFC Bank were up 1% each.
Shares of top commercial vehicle maker Tata Motors climbed 2% ahead of Jaguar & Land Rover's sales numbers for May. Brokerage houses expect sales around 28000-30000 units as against 25143 units in previous month.
Country's largest two-wheeler manufacturer Hero Motocorp and state-owned coal mining company Coal India too rallied 2% each.
Engineering and construction major by sales Larsen & Toubro rose 1.2%. FMCG majors HUL and ITC were up 0.7% each.
State-owned MMTC was among the top five most active stocks, with 2,87,880 shares that gained 2%. HMT and ITI rose 5%.
The 30-share BSE Sensex stayed higher with more than 100 points gains since early trade led by banks, oil & gas, FMCG and technology stocks. Today's bounce back indicates that traders may be adding long positions ahead of two big events.
The BSE Sensex and NSE Nifty bounced back in opening trade with 0.73% gains on Friday after taking a beating yesterday on diminishing hopes of aggressive rate-cut by RBI in its mid-quarter policy review on June 18.
May 23 2013, 16:33
- in Asian markets
May 23 2013, 09:33
- in Technicals