Indian Stock Market & World Stock Market Review By Nirmal Bang
The Sensex closed higher for the fourth consecutive day on the back of sharp upside in Reliance Industries, which gained 4.5%. Metal stocks continued their run up today as well and banking stocks were the other gainers.
However, selling in telecom, realty, power, FMCG, auto, oil marketing, capital goods and select technology stocks limited the gains. Asian markets ended mixed. Shanghai and Jakarta gained 0.5% while Hang Seng, Nikkei, Straits Times, Kospi and Taiwan fell 0.4-1%.
In the metal space, Hindalco gained 4.14%. NALCO, Sterlite Industries and Tata Steel were up 0.8-
1.5%. SAIL rose 0.21%. However, Jindal Steel lost 3.44% and JSW Steel down 0.80%.
The Oil & gas stocks like Cairn India went up 1.56% while OMC's BPCL, IOC and HPCL slipped 3-4.7%.
ONGC closed the day lower by 0.50%.
In the FMCG sector, Godrej Consumer, Dabur India and United Breweries tanked 1.5-5.8%. ITC,
Britannia and HUL were down 0.5-0.7%.
The auto space, Hero Honda, Bajaj Auto, Bharat Forge, Ashok Leyland and Tata Motors lost 1-2.4%.
Maruti Suzuki and M&M were down 0.3-0.6%.
Realty stocks like DLF, Indiabulls Real, Ackruti City, Sobha Developer, Omaxe and Unitech lost 1-3.5%.
Amongst the midcaps, Spice Communication, MRF, Jindal Saw, Opto Circuits and GVK Power gained 9-
12% while Godrej Consumer, BEML, Shree Renuka, Kirloskar Oil and Edelweiss Capital slipped 3.5-5.8%.