Market snaps 5-day losing run, Sensex recovers over 235 points; Cipla, Sun Pharma, Tata Steel top gainers

Performance of BSE-30 stocks

Closing Bell: The BSE Sensex ended higher by 235.44 points or 0.75% at 31,449.03 after making a high of 31,526.40 and low of 31,298.90 in intra-day trade earlier. Similarly, the NSE Nifty settled at 9,794.15, up 83.35 points or 0.86 percent after moving in range of 9,818.30-9,752.10.

Sun Pharma was the second best performer among the NSE-50 companies. It was quoted 5.19% higher at 473.35.

Among sectoral indices on NSE, only NIFTY PSU Bank and  NIFTY IT were in red.

The market breadth (BSE) was positive as 1,866 shares advanced against a decline of 684 shares, while 118 shares were unchanged.

Real estate developer DLF Ltd surged as much as 13.7% after saying on Saturday it was in the final stages of talks for a transaction involving its rental unit arm. DLF had previously said it was in talks with Singapore sovereign wealth fund GIC to sell a 40% stake in its property rental unit.
 

The NSE Nifty reclaimed the 9,800-mark. It was up 93.45 points or 0.96% at 9,804.25.

Drug major Cipla emerged as top gainer on both BSE and NSE. On NSE it was up 5.5% at 571.20. Cipla on last Friday reported a 23.63 percent rise in consolidated net profit to Rs 424.92 crore for the first quarter ended June 30.

Performance of sectoral indices on NSE

At the Multi Commodity Exchange (MCX), gold for delivery in October fell by Rs 68, or 0.23 percent, to Rs 29,135 per 10 grams.

Value-buying by investors coupled with short-covering in recently beaten down stocks by speculators influenced trading sentiment, brokers said.

The 30-share barometer, which had lost 1,111.82 points in the previous five straight sessions, was up 245.08 points or 0.79% at 31,458.67, with all the sectoral indices led by realty, metal and infrastructure trading in green. On similar lines, the NSE Nifty rose 76.95 points or 0.79% to 9,787.75.

The big gainers that supported the recovery in the key indices were Adani Ports, Cipla, Tata Steel, Hero MotoCorp, Reliance Industries, M&M, Maruti Suzuki, Coal India, Power Grid, Tata Motors, ICICI Bank, Axis Bank and NTPC, rising up to 4.30 percent.

Performance of key 30 shares on BSE Sensex.

The market breadth, indicating the overall health of the market was positive. On BSE, 1,198 shares rose and 247 shares fell. A total of 34 shares were unchanged.

THe BSE Sensex quoted up by 145.67 points or 0.47% at 31,364.10 after moving in range of 31,404.24- 31,298.90. It opened at 31,299.52 against its previous close of 31,213.59. The NSE Nifty was also traded higher by 56.65 points or 0.58 percent to 9,767.45.

Opening Bell: Sensex was up over 150 points. Nifty also quoted higher by 50 points.

Pre-opening session: Both Sensex and Nifty were marginally up.

Rupee was up 16 paise at 63.97 vs US dollar. It had lost 5 paise to close 64.13 against the US currency in Friday's trade due to sustained demand for the American currency from importers and corporates.

SGX Nifty was up over 60 points.

Most Asian markets started clawing back losses Monday as fears fuelled by spiralling North Korean tensions showed tentative signs of easing and safe haven assets lost momentum.