Sensex above 55K mark, metals and banks surge

Equity frontline indices were on upward swing during early hours on Friday with metal and banking scrips showing substantial gains.

Mumbai (Maharashtra) [India], August 13 :
At 10:15 am, the BSE S&P Sensex was up by 229 points or 0.42 per cent at 55,073 while the Nifty 50 moved higher by 70 points or 0.43 per cent to 16,435. Except for Nifty pharma which dipped by 1.2 per cent and realty which was down marginally, all sectoral indices were in the positive terrain with Nifty metal up by 1 per cent, FMCG by 0.7 per cent and private bank by 0.4 per cent.
Among stocks, Bharat Petroleum Corporation gained by 1.9 per cent to Rs 456.80 per share. Hindalco was up by 1.4 per cent, Tata Steel and JSW Steel by 0.9 per cent each.
The other prominent gainers were HDFC Bank, ICICI Bank, HDFC, UPL, Asian Paints and Hindustan Unilever.
However, Eicher Motors dipped by 1.4 per cent despite reporting a consolidated profit after tax of Rs 237 crore for the quarter ended June on higher sales.
Hero MotoCorp, Cipla, Dr Reddy’s, Sun Pharma, Bharti Airtel and Bajaj Finance too lost on profit booking.
Meanwhile, most Asian equity markets continued to ignore record highs hit elsewhere in the world and fell in early trading.
South Korea’s Kospi slipped by 1.53 per cent and Hong Kong’s Hang Seng index by 0.68 per cent. Japan’s Nikkie crawled up by 0.02 per cent.

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