Nifty flirts with 6000; DRL falls 2.1%, Eicher up 6.9%

Moneycontrol Bureau

The market gained in late afternoon trade after a quiet start. The Nifty climbed above 6000 led by oil & gas stocks. The mid and small caps too were buzzing.

The Sensex was up 67.24 points at 19758.91 while the Nifty gained 27.60 points to be at 6008.05.

GAIL, Bharti Airtel, Tata Motors, ONGC and Hindalco were the key gainers in the Sensex.

Eicher Motors jumped 6.9 percent after its March quarter  EBITDA beat street estimates by 26 percent. Aptech still continued to be buyer's favourite today with the stock gaining 8.6 percent on the BSE.

Meanwhile, consumer durables stocks were facing heavy selling pressure.

Dr Reddy's Lab (down 2.1 percent) was the biggest loser in the Sensex on the back of March quarter earnings. In the January-March quarter, the pharma company’s consolidated net profit was at Rs 571 crore compared to Rs 343 crore in the year-ago period. Its consolidated revenue stood at Rs 3,340 crore.

Muthoot reacted (down 4.2 percent) negatively to a bad set of numbers.

Other losing stocks in the Sensex were Bajaj Auto, BHEL, Wipro and Hero MotoCorp.