Published: Tue, May 23, 2017
Economy | By Melissa Porter

Sensex climbs 227 points on global rally in stocks

Sensex climbs 227 points on global rally in stocks

The stock would be included in the BSE 30-stock Sensex, effective June 19, according to an exchange notice on Friday.

At about 11.15 am, the Sensex was up 163.41 points or 0.54 per cent at 30,628.33 while the NSE Nifty was up 0.36 per cent or 34.20 points at 9,462.10. ITC is contributing majorly to the index gains and pulling it to higher levels. Gains in FMCG stocks like ITC, which surged over 6%, IT stocks and Larsen & Toubro helped Sensex to advance for a second day.

The GST Council has kept commonly used products like hair oil, soaps and toothpaste at 18%.

The S&P BSE mid-cap index slipped by 1.21 per cent and the small-cap index by 1.14 per cent. Trading sentiment also got a boost after the defence ministry last week broadly finalised a policy under which select private firms will be roped in to build military platforms like submarines and fighter jets in India in partnership with foreign entities. A total of 36 stocks registered a fresh 52-week high in trade today, while 45 stocks touched a new 52-week low on the NSE.

The Nifty FMCG index ended up 3.6 percent after touching a record high earlier in the session.

Among BSE sectoral and industry indices, FMCG rose 3.09 per cent followed by consumer durables 0.61 per cent, capital goods 0.50 per cent, teck 0.34 per cent, IT 0.34 per cent and telecom 0.12 per cent, while healthcare fell by 1.64 per cent, utilities 1.33 per cent, realty 1.29 per cent, oil&gas 1.28 per cent and power 1.23 per cent. Of the 30 Sensex stocks, L&T surged 1.61 %, Adani Ports (up 1.36 %), Tata Motors (up 1.23 %), HDFC Bank (up 1.02 %), TCS (0.90 %), Reliance Ind (up 0.40 %), Wipro (up 0.27 %), Axis Bank (0.24 %) and Infosys (0.19 %).

Major Sensex losers were: State Bank of India (SBI), down 4.46 per cent at Rs 294.40; Lupin, down 3.95 per cent at Rs 1,262.90; Gail, down 2.48 per cent at Rs 391.15; Bajaj Auto, down 1.98 per cent at Rs 2,912.50; and Mahindra and Mahindra (M&M), down 1.95 per cent at Rs 1,307.05. Key indices like France and Germany moved down by 0.05 per cent and 0.36 per cent while UK's FTSE was quoted higher by 0.33 per cent.

As many as 903 shares advanced, as 1,852 shares declined and 161 shares remained unchanged.

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