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Sensex surges higher; HUL up on strong results

Source : SIFY
Last Updated: Mon, Oct 28, 2013 04:27 hrs
Share market<br>

The Indian stock market opened on a cautious, albeit positive note, with investors tracking cues from Asian bourses where the mood is a bit bullish.

Capital goods, oil, realty, bank and automobile stocks are among the notable gainers. Select power and information technology stocks have moved up. A few stocks from the metal space have surged higher as well. Healthcare and FMCG stocks are trading weak.

The BSE benchmark Sensex, which rose to 20,771.36, is currently at 20,765.48, up 81.88 points or 0.4% from its previous close. The National Stock Exchange is up 20 points or 0.33% at 6164.90, after rising to 6168.75.

Hindustan Unilever rose sharply in early trades following the company reporting a 13.2% surge in net profit for the quarter ended 30 September 2012, from the prior corresponding quarter. The FMCG major posted a net profit of Rs 913.80 crore for the September 2013 quarter. The stock rose to 619.95 and is currently trading at Rs 604.60, up 1.8% from its previous close.

Larsen & Toubro, GAIL India, ICICI Bank, ONGC, Reliance Industries, Mahindra & Mahindra and HDFC are up 1% - 1.8%.

Axis Bank is up 1.8% at Rs 1211.60. IDFC, Kotak Bank, DLF, ACC, Punjab National Bank, Maruti Suzuki, Tata Motors and Bajaj Auto are also trading higher.

ITC is trading lower by 2.3% at Rs 332.15. Sun Pharmaceutical Industries is down nearly 2% at Rs 599.50. HCL Technologies, Hindalco, Cairn India, Sesa Sterlite, Asian Paints, Lupin, Infosys, Wipro, Cipla and Jindal Steel & Power are down 0.3% - 1.3%.

In the currency market, the rupee traded at 61.40 against the U.S. dollar in early trades. On Friday, the partially convertible Indian rupee had ended at 61.46 to the greenback.


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