Sensex ends up 128 points, high beta stocks shine
Among the realty stocks, HDIL was up 13.1 per cent while Anant Raj, Sobha Developer and DLF gained around 7-3 per cent.
Mumbai: Gaining 128 points, the BSE Benchmark Sensex ended at Wednesday's high while the Nifty added 34.35 points to close at 5818.60. Overall, the market remained in narrow trading range.
Steady European markets also boosted sentiments in India. Gainers of the day were Sterlite Industries (up 4.7 per cent), Hindalco (up 3.4 per cent) and Tata Motors (up 2.9 per cent).
Stars of the market were high beta stocks like realty and infra. Among the realty stocks, HDIL was up 13.1 per cent while Anant Raj, Sobha Developer and DLF gained around 7-3 per cent.
Engineering & construction major Larsen and Toubro (L&T) added more around 3 per cent intraday on Wednesday as the foreign research house Goldman Sachs upgraded the stock to a buy rating, with a target price of Rs 1710.
Top losers on the Sensex include M&M (down 2.2 per cent) while HUL, ITC and Maruti fell around 1 per cent each. AstraZeneca Pharma lost nearly 7.3 per cent to touch a 52-week low of Rs 711.20 in early trade on Wednesday after the company said its promoter AB Sweden decided to reduce stake in the company.