Sensex recovers 101 points on better earnings, global cues
The BSE benchmark Sensex today recovered by 101 points on funds buying in blue-chips led by FMCG and realty on better earnings amid a firming global trend.
The Sensex rose by 101.78 points, or 0.52 per cent to 19,387.50. The index had lost 120 points in the previous session. Similarly, the National Stock Exchange index Nifty rose by 32.65 points, or 0.56 per cent, to 5,904.10.
Brokers said trading sentiment improved on reports of better quarterly earnings by Hindustan Unilver, Hero MotoCorp, ICICI Bank and Maruti Suzuki. They said the market received further support on firming global trend as Italy formed a new government and optimism grew that central banks will decide to maintain economic stimulus in their meetings this week.
International Monetary Fund saying the India’s GDP is likely to improve to 5.7 per cent in 2013 and further to 6.2 per cent a year after, also influenced the market sentiment, they added. In 30-BSE index components, 19 stocks closed with gains led by Hindustan Unilever, Hero MotoCorp, Infosys, Wipro, Mahindra and Mahindra, ONGC and Sterlite Industries.
The Consumer Durable sector index gained the most by 2.43 per cent followed by FMCG index by 2.30 per cent as Hindustan Unilever rallied 6.98 per cent to Rs 497.60 on after reporting earnings that exceeded estimates.
The interest-sensitive realty sector rose by 1.53 per cent to 1,921.89 on investors expectation of an interest rate cut in the RBI policy meet on May 3.
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