The BSE Sensex and NSE Nifty closed higher in a special trading session on Saturday, but fell 1-1.5% for the week. Indices extended gains in a late trade led by banks, auto and metals stocks while the upside was capped due to fall in Reliance Industries, Bharti and Larsen & Toubro.
The BSE benchmark rose 53.09 points or 0.31%, to close at 17,187.34. The NSE benchmark closed above the 5200 level after struggling at the same level since Thursday; it went up 18.40 points or 0.35% to 5,209.
Banks led the markets higher today - country's third largest private sector lender Axis Bank jumped 1.5% after reporting a growth of 25% year-on-year in its net profit at Rs 1,277 crore for the January-March quarter 2012, strengthened by higher interest income.
ICICI Bank extended gains, rising 1%; it had rallied over 2% yesterday after better than expected numbers in Q4. HDFC Bank and HDFC were up 0.5% each. Top lender State Bank of India too gained 0.25%.
India's largest car maker Maruti Suzuki climbed 1.3% ahead of quarterly numbers today. Analysts on average expect the company to report a growth of 2.5 times quarter-on-quarter in its net profit of Rs 530 crore for Q4FY12.
Auto companies will announce their monthly sales numbers for April next week; Tata Motors, Hero Motocorp, M&M and Bajaj Auto rose 0.3-1%.
Metal stocks too closed in green - Sterlite Industries shot up 2% while rival Jindal Steel gained 0.8% after fourth quarter numbers.
State-owned ONGC and BHEL too were up 0.8% each. However, index heavyweights Reliance Industries, Tata Consultancy Services, Larsen & Toubro and Bharti Airtel were down just 0.1-0.3%.
In the second line shares, Lanco Infratech, GVK Power and United Phosphorous were up over 3-8%.
Divestment candidates - Hindustan Copper shot up nearly 15% and HMT rallied close to 10% amid very high volumes.
Fertiliser stocks too advanced quite sharply amid heavy volumes. National Fertiliser surged 16% and FACT rose 8% whereas Chambal Fertiliser was up 5%.
However, Viceroy Hotels fell 2% on profit booking; the stock had rallied more than 85% in a month.
The BSE Sensex and NSE Nifty stayed higher amid choppy trade, supported by private banks, FMCG, auto and metals stocks. However, the fall in Reliance Industries, TCS, Infosys, L&T and Bharti Airtel has capped the upside.
The BSE Sensex and NSE Nifty started of trade flat in a special session held by exchanges on Saturday. But, the index gave up some gains due to fall in Reliance Industries and TCS.
ADS BY GOOGLE
video of the day
Mkt resilient at current level; bullish auto: ICICI Pru AMC