Sensex Ends 74 Pts Higher; L&T Zooms 3.73%

Indian stock markets ended positively on Monday (July 28), led by Larsen & Sensex Ends 74 Pts Higher; L&T Zooms 3.73%Toubro, Tata Power and ACC.

The broad based Nifty’s increase was led by oil & gas, capital goods and consumer durable stocks. But, metal and power stocks went down.

On global front, the majority of the Asian stocks went up on Monday, however, European shares declined during the early trade.

Finally, the Sensex marked its closure at 14,349.11 after making a gain of 74.17 points. It also touched a high of 14,421.61 and a low of 14,219.38 during the day.

On the other hand, the broad-based NSE Nifty gained 20.25 points at 4,332.1 after hitting a high of 4,352.65 and a low of 4,282.25.

The market breadth was positive as it experienced 1,767 progressions as against 848 declinations.

Most active counters on the bourses were Larsen & Toubro, which gained 3.73%, ACC surged 3.34%, Oil & Natural Gas Corporation profited 3%, Ranbaxy Laboratories climbed 2.60%, Reliance Communications soared 1.82%, and D L F zoomed 1.77%.

The major losers at the BSE Sensex included Sterlite Industries, which declined 3.47%, Tata Steel lost 2.26%, Hindalco Industries fell 2.21%, State Bank Of India missed 2.12%, Mahindra & Mahindra rejected 1.98%, NTPC slumped 1.44%, and Grasim Industries declined 1.4%.

Larsen & Toubro, an engineering and construction major, zoomed 3.73% after the company registered better-than-expected financial performance during first quarter of this fiscal. It posted a rise of 33% and 53% in profit after tax and gross sales respectively.

According to stock market analyst, Vishwas Agarwal, everyone is eagerly waiting for credit policy, which will be announced today (Tuesday).

If the policy is soft, then a good jump is expected, he said.