Sensex trades higher; IT, FMCG, auto gain
07 Dec 2011
Indian equities are trading firm, and both the benchmark indices, Sensex and Nifty, were up nearly 1%. Strong buying interest was seen in IT, FMCG and Auto stocks. However, some selling pressure is seen in pharma stocks.
Markets were not much cheered by the deadlock over FDI coming to an end after the All-Party meet. "Decision to bring 51% FDI in retail is suspended till a consensus is brought among various stakeholders, including political parties," said Union Finance Minister Pranab Mukherjee.
The Sensex was up 145.73 points or 0.87% at 16951.06, and the Nifty up 44.15 points or 0.88% at 5083.30.
Market breadth was positive; about 1437 shares advanced and 1136 shares declined, with 1166 shares remaining unchanged.
Top gainers on the Sensex were Jaiprakash Associates at Rs 70.60, up 2.39%; Tata Power at Rs 99.45, up 2.31%; Hindalco at Rs 139.30 that is up 2.24%; Sterlite Ind up 2.23% at Rs 110.25 and Infosys at Rs 2,755 up 2.04%.
Top losers on the Sensex were Coal India down 2.75% at Rs 323.40; Bharti Airtel at Rs 381.35 down 2.29%; NTPC at Rs 173.20 down 1.53%, Cipla at Rs 324.65 down 1.4% and Sun Pharma at Rs 519.60 down 0.93%.
