Sensex trades higher on hope of GAAR deferment
03rd September 2012 11:18 AM
Indian equities gained marginally in early trade on Monday on hopes the govtwill postponestringent General Anti Avoidance Rules (GAAR). Autoand power stockswere gainers in the market. However,oil & gasstocks witnessed a fallled by oil marketing companies and RIL.At 10.45 am, the Sensex was trading up 38.63 points or 0.22% at 17,468.19 with 20 components gaining. Meanwhile, the Nifty was trading higher by 20.50 points or 0.39% at 5,279 with 33 components gaining.
The 30-share benchmark index, BSE Sensex opened with a gain of 36.04 points or 0.21% at 17,465.60, while the broad based NSE Nifty started with a rise of 18.00 points or 0.34%, at 5,276.50.
Housing Development Finance Corporation contributed rise of 10.45 points in the Sensex. It was followed by Infosys (8.6 points), NTPC (4.9 points), Tata Motors (4.27 points) and State Bank Of India (3.84 points).
However, Reliance Industries contributed fall of 16.52 points in the Sensex. It was followed by Hindustan Unilever (5.33 points), I C I C I Bank (3.58 points), Wipro (3.4 points) and Hero Motocorp (1.98 points).
Biggest gainers in the 30-share index were Cipla (1.82%), Bajaj Auto (1.71%), Sterlite Industries (India) (1.56%), NTPC (1.52%), G A I L (India) (1.09%), and Maruti Suzuki India (1.07%).
On the other hand, Jindal Steel & Power (2.02%), Wipro (1.31%), Reliance Industries (1.02%), Hero Motocorp (0.89%), Hindustan Unilever (0.82%), and Tata Power Company (0.50%) were the major losers in the Sensex.
Sectors in Limelight
The Auto index was at 9,305.93, up by 65.53 points or by 0.71%. The major gainers were Bajaj Auto (1.71%), Exide Industries (1.45%), Ashok Leyland (0.97%), Bharat Forge (0.7%) and Cummins India (0.16%).
The Power index was at 1,882.53, up by 11.70 points or by 0.63%. The major gainers were Adani Power (2.94%), Lanco Infratech (2%), G M R Infrastructure (1.64%), Bharat Heavy Electricals (0.7%) and A B B (0.51%).
The IPO index was at 1,458.18, up by 8.57 points or by 0.59%. The major gainers were Bedmutha Industries (5%), Claris Lifesciences (3.87%), Bajaj Corp (2.87%), Career Point (2.62%) and Coal India (0.16%).
On the other hand, the Oil & Gas index was at 8,167.51, down by 44.02 points or by 0.54%. The major losers were Bharat Petroleum Corporation (1.79%), Hindustan Petroleum Corporation (1.63%), Indian Oil Corporation (1.15%), Reliance Industries (1.02%) and Oil & Natural Gas Corporation (0.07%).
Market breadth was positive with 1,218 advances against 828 declines.
Value and Volume Toppers
United Spirits topped the value chart on the BSE with a turnover of Rs. 220.46 million. It was followed by JSW Steel (Rs. 198.06 million), Jain Irrigation Systems (Rs. 160.11 million) and State Bank Of India (Rs. 144.79 million).
The volume chart was led by Cals Refineries with trades of over 7.56 million shares. It was followed by Jain Irrigation Systems (2.58 million), Birla Cotsyn (India) (1.58 million) and Kingfisher Airlines (1.22 million).
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