Gains by financial stocks pull BSE Sensex up 301 points
The benchmark index of the Bombay Stock Exchange (BSE), the Sensex surged 1.96 percent on Tuesday, lifted by gains made by financial stocks even as Reliance Communications extended its losses as fears of feud between the Ambani brothers deepened.
The 30-share index, which touched a high of 15,732.75 and a low of 15,357.98 during intraday trade, rose 301.08 points to close at 15,696.90 with 25 components ending in the green.
In spite of Tuesday's gain, the Sensex, which hit a record high of 21,206.77 on Jan. 10, is still down about 20 percent this year.
The day's biggest gainer was Housing Development Financial Corporation (HDFC), which surged 5.99 percent to close at Rs.2168.10.
Close behind was HDFC Bank and State Bank of India (SBI), which advanced 4.87 percent and 4.57 percent to Rs.1151.45 and Rs.1326.40 respectively.
ICICI Bank gained 2.70 percent to close at Rs.798.70.
FMCG majors Hindustan Unilever and ITC climbed 2.05 percent and 0.77 percent to Rs.231.65 and Rs.201.45 respectively.
Tech stocks Wipro and Tata Consultancy Services (TCS) jumped 1.69 percent and 1.19 percent to close at Rs.486.25 and Rs.910.55 respectively.
Real estate majors DLF and Jaiprakash Associates gained 2.99 percent and 4.51 percent to close at Rs.491.20 and Rs.179.50 respectively.
Ranbaxy Laboratories gained 2.41 percent to Rs.567.75 on reports that Pfizer may launch a hostile bid on Ranbaxy, which has struck a deal with Japanese drugmaker Daiichi Sankyo to sell its controlling stake for $4.6 billion, and buy non-promoter's stake.
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