Markets closed higher, marking its biggest single-day gain in almost a month, rising for second consecutive day, as IT sector heavy weight Infosys rose to its 28 month high on optimism about the sector's business outlook along with rate sensitive sector shares amid positive global cues. The S&P BSE Sensex index rose up by 282.86 points or 1.49% to end at 19,229.84. The CNX Nifty gained up by 86.90 points or 1.55% to end at 5,699.30.
Among sectoral indices Realty, Auto and Bankex surged up between 2-3%, Power, Healthcare, IT, Consumer Durables, Capital Goods and Oil & Gas also gained by 1% each while Metal index ended negative. From broader markets both the indices Mid-cap and Small-cap edged higher over 1%.
Among index gainers were, HDFC Bank, Axis Bank, ICICI Bank, SBI and HDFC rising between 1-7%, Cipla Ltd gaining by over 3%, Wipro, TCS and Infosys gaining between 1-3%, M&M, Bajaj Auto, Tata Motors and Hero Moto and Maruti Suzuki surging between 1-4%. Other notable gainers were NTPC, Dr Reddys Lab, GAIL, Tata Steel, Tata Power and Bharti Airtel.
Among index losers were, Hindalco Industries slipping by over 2%, Coal India, ONGC and Jindal Steel declining between 1-2%.
The Government's additional measures at aiming to attract capital inflows into a weak economy and to control wide current account deficit, also boosted the sentiments of the markets. The Government also raised the import duty of gold and silver to 10% both, from 8% and 6% respectively.
The Rupee after slipping recovered and manages to close to 61.17 against the dollar as compared to its previous close of 61.27/28.
Mahindra & Mahindra Ltd today reported 13.46% rise in its consolidated net profit to Rs 1,164.6 crore for the quarter ended on June 30, 2013, amid good performance of its farm equipment segment and cost control measures. It had posted a consolidated net profit of Rs 1,026.4 crore for the same period previous fiscal.
Tech Mahindra surged higher by 5% after reporting rise in its consolidated adjusted net profit by 36% quarter-on-quarter at Rs 686 crore for the quarter ended on June 2013 (Q1) due to its higher non-operating income from forex gains.
The overall market breadth was firm positive with 1,444 shares advancing compared to 899 shares declining.
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