|Chennai||Rs. 27770.00 (-0.14%)|
|Mumbai||Rs. 29200.00 (2.31%)|
|Delhi||Rs. 27900.00 (-0.36%)|
|Kolkata||Rs. 28270.00 (1%)|
|Kerala||Rs. 27050.00 (-0.37%)|
|Bangalore||Rs. 27550.00 (1.66%)|
|Hyderabad||Rs. 27770.00 (-0.14%)|
The BSE Sensex rose on Thursday as auto makers and property developers gained on hopes of increased sales of big-ticket items during the looming festival season, while lenders rose on hopes of higher retail loan demand.
Domestic shares gathered momentum after a slew of Chinese data boosted optimism about the health of the world's second-largest economy, sending Asian indexes higher.
Amid increased volatility due to the earning season, investors are also focussing on the central bank's stance on interest rates at its next meeting on October 30.
"It's a pre-Diwali cheer in the market. A lot depends on the announcements and direction from New Delhi," said P. Phani Sekhar, fund manager-PMS at Angel Broking.
"We believe the floor of the market is around 5,400, although any immediate upside looks difficult. Earnings seem to be more or less discounted."
0.97 percent, or 181.16 points, to 18,791.93.
The Nifty rose 1.03 percent, or 58.45 points, to 5,718.70.
Shares in banks, property and auto gained on hopes of higher consumer spending during the Dussehra festival on October 24 and the Diwali festival in mid-November, which are considered auspicious times to buy big-ticket items such as vehicles and property.
State bank of India gained 2.9 percent while private lender Axis Bank
Cement maker ACC Ltd
ACC reported a 57 percent jump in net profit at 2.49 billion rupees. Analysts expected a profit of 2.87 billion rupees on revenue of 25.55 billion rupees, according to Thomson Reuters I/B/E/S.
Shares in Sun Pharmaceutical Industries
The move is opposed by the wireless industry which says it will cost about $24 billion more in capital outlay.
Ahead of Friday's earnings, cigarette maker ITC rose 1.16 percent while TCS gained 1.9 percent.
TCS is expected to report a 35 percent rise in quarterly profit at 33.1 billion rupees, Thomson Reuters data showed, while its CEO N. Chandrasekaran is bullish about the company's performance.
The outlook is "looking good, looks positive, there's no negative news," he said on Sept 25.