Nifty Tips
Equity benchmarks surged Thursday led by strengths in shares from the banking, capital goods and auto sectors, with the Sensex closing above the psychological 19000-mark.
Brokers said the narrowing of March trade deficit to a two-year low of USD 10.3 billion helped sustain the positive sentiment created by a decline in gold and crude oil prices.
The Sensex closed at 19016.46, up 285.30 points over its previous close, and the Nifty gained 94.40 points to close at 5783.10.
HDFC, Bharti Airtel, Tata Motors, L&T, Axis Bank, and Oriental Bank of Commerce were the key gainers among frontline shares, rising between 3-5 percent.
IndusInd Bank shares gained 7 percent on better than expected. Shares of JSW Steel and Sesa Goa rose briefly after the Supreme Court lifted a one-and-a-half-year ban on mining in Karnataka. But the stocks gave up much of the gains, with JSW Steel closing in the red and Sesa Goa ending the day marginally higher.
Falling commodity prices are a big positive for India and this could even prompt many foreign investors to increase their weightage for the country in their portfolio, said Tirthankar Patnaik of Religare Capital in an interview to CNBC-TV18 earlier today.
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