Sensex up 130 pts at 1-wk high; RIL, CIL and Hero in limelight

Sensex up 130 pts at 1-wk high; RIL, CIL and Hero in limelight

Continuing its upward march for the third day, the BSE benchmark Sensex today jumped by 130 points to close at one-week high of 20,160.82 and the NSE Nifty regained the crucial 6,100-level on heavy buying in RIL, Coal India, Hero MotoCorp and ITC shares.

The 30-share index, which had gained 356 points in the last two trading sessions, saw volatile trading but advanced by 130.05 points, or 0.65 per cent to close at 20,160.82. This is Sensex's highest closest since 20,223.98 on May 20.

The 50-share National Stock Exchange index Nifty regained the key 6,100 level after a gap of nearly a week by rising 28.10 points, or 0.46 per cent, to 6,111.25.

Also, the MCX-SX flagship index SX40 closed higher by 51.64 points, or 0.43 per cent, at 11,947.27.

Hero MotoCorp was the star performer of the day rising over 5 per cent on BSE ahead of monthly sales report. Coal India Ltd (CIL) shares rose over 3 per cent on robust earnings and first price hike in two years. RIL, which attracted buyers for the second day on new gas find, jumped nearly 2 per cent.

Other Sensex heavyweights like ITC, ICICI Bank, ONGC and TCS rose in 1-2 per cent range.

"This week has started with recovery from lower levels and Nifty is once again above 6,100 level and Sensex above 20,000 level -- psychologically important for confirming further uptrend," said Rakesh Goyal, Senior Vice President, Bonanza Portfolio Limited.

In sector-wise indices, BSE Oil and Gas sector index gained the most by rising 1.65 per cent to 8,950.96, followed by auto index by 1.33 per cent to 11,076.54.

GAIL ended marginally higher after Q4 profit rose 28 per cent. Outside broader indices, earnings-related action was seen in Havells India which touched a new high, CESC rose over 2 per cent, Colgate (1.2 pc) and Tata Global (0.77 pc).

Meanwhile, Muthoot and Manappuram ended lower after RBI imposed fresh restrictions on banks and NBFCs for providing loans against gold coins as well as units of gold ETFs etc.
AstraZeneca Pharma India slumped over 16 per cent after the company intimated floor price for OFS at a substantial discount to the prevalent market price.

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