Sensex Gains Over 150 Points, Nifty Ends Above 8,000

Sharemasterindia.com 3:40 p.m.: The markets ended today's trading session on a positive note. The Sensex jumped over 150 points and the Nifty closed above 8,000 on the back of buying in auto, pharma and oil & gas and IT stocks.

In the intraday deals, the Sensex touched high of 26,729 and low of 26,308 and the Nifty moved in a range of 113 points. The Sensex came off the intraday high levels as losses in banking, metal, power and consumer durable stocks capped gains.

Banking, metal and power stocks faced the heat of selling pressure. The Bank Nifty ended 0.4 per cent lower at 17,459 and the PSU Bank index fell 1.5 per cent.


On the other hand, auto, pharma and oil & gas stocks ended on a positive note.

From the Nifty-50 basket of stocks, 25 stocks advanced while 25 stocks declined.

Cairn India shares closed 3.85 per cent higher at Rs 188 after  after rating agency Moody's said that Vedanta Ltd's proposed merger with Cairn India is credit positive for London-listed Vedanta Resources.

Idea Cellular, Sun Pharma, M&M, HDFC, Bajaj Auto and Reliance Industries were also among the gainers.

On the other hand, Power Grid, Bank of Baroda, ACC, Hindalco, IndusInd Bank, SBI and Kotak Mahindra Bank were among the laggards.

The broader markets ended on a mixed note. The BSE mid-cap index closed in the red while the small-cap index closed 0.4 per cent higher.

The Nifty finally closed 31 points higher at 8,014 and the Sensex rose 161 points to settle at 26,586.

3:30 p.m.: Markets end on a positive note; the Sensex provisionally closed 144 points higher at 26,569 and Nifty ended 24 points higher at 8,007.

3:27 p.m.: One should avoid stocks such as J P Associates and Unitech, says Kunal Bothra of LKP Shares.

3:15 p.m.: Worst over for Indian markets and now the markets are likely to head higher, says Sanjeev Bhasin of India Infoline.

3:08 p.m.: Failure in the latest talks aimed at averting a Greek default hurt shares in Europe and Asia on Monday, drove investors into the safety of low-risk government bonds and weighed on the euro.

3:00 p.m.: CNX Pharma index jumps 1.3 per cent; Sun Pharma, Cadila Healthcare, Glenmark Pharma and Cipla were among the top losers.

2:54 p.m.: Metal and power stocks facing the heat of selling pressure. Hindalco, SAIL, Vedanta and Jindal SAW among the laggards from the metal space.

2:45 p.m.: Cairn India was the top Nifty gainer, the stock jumped 4.5 per cent to Rs 188.90 after rating agency Moody's said that Vedanta Ltd's proposed merger with Cairn India is credit positive for London-listed Vedanta Resources.