Sensex ends 72 points higher

PTI Mumbai | Updated on May 11, 2011 Published on May 11, 2011

The Bombay Stock Exchange benchmark Sensex today gained over 72 points to 18,585 as investors bought heavyweights in view of the Government move to defer a meeting to raise fuel prices and a firm global trend.

The Sensex, which ended on a flat note in the past two sessions, moved up by 72.19 points or 0.39 per cent to 18,584.96, as the stocks of State Bank of India, Tata Motors, Tata Steel, Hero Honda and Infosys recorded smart gains.

Similarly, the broad-based National Stock Exchange index Nifty rose 23.8 points or 0.43 per cent to 5,565.05.

Stocks of Ranbaxy, the largest drug maker by revenue, surged 6.37 per cent to Rs 477.70 after reporting first quarter earnings that beat market estimates. The healthcare index rose 0.51 per cent to 6,088.95.

Brokers said investor sentiment improved somewhat after Tuesday’s meeting to hike fuel prices was postponed.

The imminent hike has been weighing heavily on the stock markets, as investors fear that the move would stoke inflation, leading to a further rise in interest rates.

Brokers said a mixed trend in the Asian region and higher openings in Europe drove the market sentiment.

Realty, metal, auto and consumer durables remained on the fore-front and drove up the market. Tata Steel rose 0.73 per cent to Rs 593.35 and Sterlite Industries 1.47 per cent to Rs 176.60. Metal stocks gained on firming trend at the London Metal Exchange Index.

Realty sector index gained 1.4 per cent to 2,143.12, followed by metal index 1.01 per cent to 15,647.74. Auto sector index gained 0.95 per cent to 9,189.82 and consumer durables 0.72 per cent to 6,201.43.

Published on May 11, 2011
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