Shares ascended for a second day along with other Asian indices following positive US consumer confidence data regained buoyancy. Bank shares surged higher. ICICI Bank rose 1.97% to Rs 282.40. HDFC Bank rose 0.84% to Rs 1,430.65. Hero MotoCorp fell 2.92% to Rs 3,231. Auto stocks fell after the Supreme Court reportedly banned sale of existing stocks of Bharat Stage III vehicles from 1 April 2017.
Pharmaceutical shares declined. Alkem Laboratories declined 2.32%, Sun Pharma down 1.34%, Cadila Healthcare declined 1.27%, Aurobindo Pharma declined 1.13%, Wockhardt down 1.08% Divi’s Lab declined 0.85%, Dr Reddy’s Laboratories declined, among some others.
Lupin was down 0.24% to Rs 1,452.95 after the company announced the launch of Abacavir and Lamivudine tablets, having received an approval from the United States Food & Drug Administration earlier.
Nifty ended today at 9,143, up 43 points, the BSE 30-share barometer settled at 29,531, up 122 points on closing. Overseas, most European and Asian stocks edged higher following gains in US equities on the back of a strong consumer confidence survey.
Gold fell today in the face of technical resistance and positive economic data that triggered hopes for further US interest rate hikes this year, supporting the dollar and equities markets.