Press Esc to close
Thursday 28 August 2014
News updated at 4:24 PM IST
Weather
Max: 24.4°C
Min : 20.1°C
In Bangalore
Generally cloudy

Sensex rises 153 pts to 1-mth high; HDFC Bank up, Wipro down

Mumbai, April 22, 2013, (IANS):

Sharp rise in HDFC Bank and ICICI Bank shares ahead of quarterly earnings and firm hopes of a rate cut by RBI helped the BSE benchmark Sensex jump by 153.37 points to end today at one-month high level of 19,169.83.

Besides banking and realty stocks, consumer durable, capital goods, metal and power shares also attracted buying support. However, led by Wipro, which fell nearly 8 per cent, IT stocks like Infosy and TCS saw selling on muted growth prospects and concerns over US immigration issues.

The Bombay Stock Exchange 30-share barometer resumed weak but later bounced back and remained in positive terrain most of the day before closing at 19,169.83, a rise of 153.37 points or 0.81 per cent. On the preceding trading day, Sensex had flared up by 285.30 points to close above the 19,000-mark.

The broader CNX Nifty of the NSE today spurted by 51.30 points or 0.89 per cent to end at 5,834.40.


Brokers said the sentiment was bolstered as expectation that easing inflation and weak commodity prices might prompt the Reserve Bank of India to cut interest rate in an aggressive manner in its monetary policy meeting on May 3.

"Good liquidity coming in the market from FIIs along with falling gold prices and probable likelihood of rate cut in early next month, have boosted market sentiment," said Rakesh Goyal, Senior Vice President, Bonanza Portfolio.

Market experts said a firming trend in Asian and European markets as the Group of 20 refrained from opposing the Bank of Japan's stimulus policies, further supported the market.

Heavyweights like L&T, HDFC, RIL, SBI and ITC supported the rise in shares while Infosys, TCS, Wipro, ONGC, M&M and Bajaj Auto were major laggards in today's trade.

Traders said short-covering activity ahead of the expiry of futures and options contract on Thursday also helped domestic stocks remain firm.

Leading private sector banks including HDFC Bank (Tuesday) and ICICI Bank (Friday) will report January-March quarter earnings this week.

Go to Top

Photo Gallery
Abhishek Bachchan posing next to the Pro Kabbadi League trophy in Bengaluru ...

Abhishek Bachchan posing next to the Pro Kabbadi League trophy in Bengaluru ...

Imran Khan  supporter waves national and party flags during what has been dubbed a 'freedom march ..

Imran Khan supporter waves national and party flags during what has been dubbed a 'freedom march ..

England's Ben Stokes fails to get to a catch during the second ODI against India ...

England's Ben Stokes fails to get to a catch during the second ODI against India ...

Narendra Modi in a meeting with President of Asian Development Bank, Takehiko Nakao in New Delhi ...

Narendra Modi in a meeting with President of Asian Development Bank, Takehiko Nakao in New Delhi ...

Family members mourn during cremation procession of Lance Naik Dhananjay Kumar who was killed ...

Family members mourn during cremation procession of Lance Naik Dhananjay Kumar who was killed ...

Crowd during cremation procession of Lance Naik Dhananjay Kumar who was killed in an encounter ...

Crowd during cremation procession of Lance Naik Dhananjay Kumar who was killed in an encounter ...

Britain's Deputy PM Nick Clegg during the inauguration of the United Kingdom India Business ...

Britain's Deputy PM Nick Clegg during the inauguration of the United Kingdom India Business ...

Dhoni is bowled by England's Chris Woakes during their second one-day international cricket match ..

Dhoni is bowled by England's Chris Woakes during their second one-day international cricket match ..

MS Dhoni bails fly as he is clean bowled by England's Chris Jordan ...

MS Dhoni bails fly as he is clean bowled by England's Chris Jordan ...

A Lord Ganesha idol decorated with 'Laddus at famous Moti Doongari temple in Jaipur ...

A Lord Ganesha idol decorated with 'Laddus at famous Moti Doongari temple in Jaipur ...

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bangalore - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523