Sensex ends shy of 20,000; HDFC, ITC surge
The BSE Sensex hit the key 20,000 mark for the first time since January 31, 2013 amid a strong global rally that sent the U.S.’ S&P 500 to another record high overnight. The 50-share Nifty benchmark inched towards the 6,100 mark.
The 30-share Sensex ended up tad short of the 20,000 mark at 19,990 which is a 101 points gain and the 50-share Nifty ended up 26 points at 6,069.
The current upsurge was led by stocks of FMCG, oil and gas and banking sectors, besides a rally in HDFC Ltd and Lupin Ltd on better earnings.
In 30-BSE index components, 14 stocks gained. The rally was aided by handsome gains in counters like HDFC (+3.85%), ITC (+2.27% & HDFC Bank (+1.38%) . The FMCG sector index gained the most followed by Oil and Gas index and Banking index/
Bharti Airtel, HeroMoto Corp, Tata Steel and M&M were notable losers amongst the Sensex stocks.
A firming global trend as China’s exports topped estimates and European central bank cutting interest rates to revive economy, further fuelled the uptrend.