Shares of Wipro jumped 3 percent, touching 14-year high at Rs 595.15 per share as it bagged a 10-year IT and BPO contract from UK's Carillion. It was the top gainer.
Equity benchmarks gained for the third consecutive session on Tuesday with the support from technology, capital goods and HDFC group stocks. Though it was a volatile session ahead of expiry of February derivative contracts on Wednesday, the 50-share NSE benchmark Nifty closed at 6200-mark, up 14 points. The 30-share BSE Sensex climbed 41.03 points to 20852.47. The consistent upmove in the market was due to the fact that market is expecting a stable government at the Centre post the Lok Sabha elections and therefore, the flows are improving and overall sentiment is also looking up, Dipan Mehta, member, BSE and NSE said. He believes the market is discounting a favourable opinion poll (which came out over a weekend) and is expecting Narendra Modi-led NDA to form the government. Foreign institutional investors bought nearly Rs 3,000 crore worth of shares in the last eight consecutive sessions. Shares of Wipro jumped 3 percent, touching 14-year high at Rs 595.15 per share as it bagged a 10-year IT and BPO contract from UK's Carillion. It was the top gainer. Its rivals TCS and Infosys gained 0.5 percent and 0.8 percent, respectively. State-run capital goods major BHEL was up 2 percent on top of a 4 percent upmove in previous session while its rival Larsen & Toubro rose 0.6 percent. Telecom operator Bharti Airtel rebounded with 1.6 percent gains after falling more than 4 percent in previous two sessions on losing Nigerian court case. Shares of Bajaj Auto, Cipla and Hindalco Industries gained 1-2 percent. However, Tata Steel, Coal India, Tata Power and GAIL were down between 1.5-2 percent. NTPC shares slipped another 1 percent in addition to 11 percent fall in previous session on Central Electricity Regulatory Commission (CERC) final regulations for FY15-19 which provide no respite for it. The norms will fix tariffs for the power sector for the next five years. Sesa Sterlite dropped 2 percent after agencies report suggests that Directorate of Revenue Intelligence has conducted raids in company's office in Goa. ICICI Bank, Reliance Industries, State Bank of India, Dr Reddy’s Labs and Sun Pharma were under pressure with marginal loss.
Equity benchmarks gained for the third consecutive session on Tuesday with the support from technology, capital goods and HDFC group stocks. Though it was a volatile session ahead of expiry of February derivative contracts on Wednesday, the 50-share NSE benchmark Nifty closed at 6200-mark, up 14 points. The 30-share BSE Sensex climbed 41.03 points to 20852.47. The consistent upmove in the market was due to the fact that market is expecting a stable government at the Centre post the Lok Sabha elections and therefore, the flows are improving and overall sentiment is also looking up, Dipan Mehta, member, BSE and NSE said. He believes the market is discounting a favourable opinion poll (which came out over a weekend) and is expecting Narendra Modi-led NDA to form the government. Foreign institutional investors bought nearly Rs 3,000 crore worth of shares in the last eight consecutive sessions. Shares of Wipro jumped 3 percent, touching 14-year high at Rs 595.15 per share as it bagged a 10-year IT and BPO contract from UK's Carillion. It was the top gainer. Its rivals TCS and Infosys gained 0.5 percent and 0.8 percent, respectively. State-run capital goods major BHEL was up 2 percent on top of a 4 percent upmove in previous session while its rival Larsen & Toubro rose 0.6 percent. Telecom operator Bharti Airtel rebounded with 1.6 percent gains after falling more than 4 percent in previous two sessions on losing Nigerian court case. Shares of Bajaj Auto, Cipla and Hindalco Industries gained 1-2 percent. However, Tata Steel, Coal India, Tata Power and GAIL were down between 1.5-2 percent. NTPC shares slipped another 1 percent in addition to 11 percent fall in previous session on Central Electricity Regulatory Commission (CERC) final regulations for FY15-19 which provide no respite for it. The norms will fix tariffs for the power sector for the next five years. Sesa Sterlite dropped 2 percent after agencies report suggests that Directorate of Revenue Intelligence has conducted raids in company's office in Goa. ICICI Bank, Reliance Industries, State Bank of India, Dr Reddy’s Labs and Sun Pharma were under pressure with marginal loss.
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