Mumbai, Mar 12: Indian stock markets closed on a higher note relying on the positive gains from oil & gas, banking, metal, technology, capital goods and auto company stocks.
The 30-share BSE Sensex has touched an intraday high of 8,439.71, before closing the day at 8,343.75, up 2.25 per cent or 183.35 points. The 50-share NSE Nifty gained 44.30 points or 1.72 per cent, to settle at 2,617.45, after hitting a high of 2646.10. Both indices have lost 96 points and 29 points from their highs, respectively.
Stocks like Reliance Industries, ONGC, ICICI Bank, HUL, BHEL, Infosys, TCS, L&T, SAIL, Reliance Communication, SBI, HDFC, Sterlite and Maruti Suzuki helped markets to end positive.
However Inflation and IIP data released on Thursday, Mar 12 did not create any impact in the markets.
Markets postive: BSE Sensex tests 8,400
The 30-share BSE Sensex has tested 8,400 level and the Nifty is above 2,625 level in the mid-day trade. The Sensex was trading at 8,401, up 241 points and the Nifty was trading at 2,630, up 57 points, at 1:30 hours IST. BSE Midcap and Small cap indices went up 0.5 pc each. The discount of Nifty March Futures has trimmed down to 8 points from 14-18 points.
Bharti Aitel, NTPC, Tata Power, Idea and DLF lost ground.
The European markets were down in the opening session, while the Asian markets showed mixed results.
Markets in green; Airtel plunges
Though dipped a bit, markets are seeing buying interest. Reliance Industries, Infosys, ITC, HUL, ONGC, ICICI Bank, SAIL, BHEL, TCS, Sterlite Industries, HDFC and L&T are helping the benchmark indices.
The Sensex was trading at 8,287, up 128 points and the Nifty was at 2,604, up 31 points, at 10:51 hours IST. Broader indices like BSE Midcap and Small cap went up just 0.5 per cent each.
Meanwhile heavy selling is sean in Bharti Airtle, Tata Power and NTPC. Bharti Airtel plunged nearly 4 pc, as its CEO, Manoj Kohli sold entire holding (1.2 lakh shares) in open market on Mar 6 and 9 to buy a house.
Markets open strong, Banks lead
After two days of holiday, Indian markets opened higher taking cue from positive US markets.
At 9:56 am, the Bombay Stock Exchange's benchmark index Sensex was trading at 8,341, up 181 points and the National Stock Exchange's Nifty was at 2,620, up 48 points. CNX Midcap 100 gained 44 points at 2,982.
Buying was seen in financial, capital good, FMCG and technology stock which were badly beaten down during Friday, Mar 6 trading. Major gainers of the opening trade are ICICI Bank, Sterlite, Reliance Capital, HUL, HDFC, ITC, Hindalco, SBI, Infosys, HDFC Bank, PNB and L&T.