MUMBAI: The Bombay Stock Exchange benchmark Sensex on Wednesday gained over 72 points to 18,585 as investors bought heavyweights in view of the government move to defer a meeting to raise fuel prices and a firm global trend.
The Sensex, which ended on a flat note in the past two sessions, moved up 72.19 points or 0.39 per cent to 18,584.96, as stocks of State Bank of India, Tata Motors, Tata Steel, Hero Honda and Infosys recorded smart gains.
Similarly, the broad-based National Stock Exchange index Nifty rose by 23.80 points or 0.43 per cent to 5,565.05.
Stocks of Ranbaxy, the largest drugmaker by revenue, surged 6.37 per cent to Rs 477.70 after reporting first quarter earnings yesterday that beat market estimates. The healthcare index rose by 0.51 per cent to 6,088.95.
Brokers said investor sentiment improved somewhat after yesterday's meeting to hike fuel prices was postponed.
The imminent hike has been weighing heavy on the stock markets, as investors fear that the move would stoke inflation, leading to a further rise in interest rates.
They said a mixed trend in the Asian region and higher openings in Europe helped the market.
Realty, metal, auto and consumer durables remained on the fore-front and drove up the market.
Tata Steel rose 0.73 per cent to Rs 593.35, and Sterlite Industries by 1.47 per cent to Rs 176.60.
Metal stocks gained on firming trend in the London Metal Exchange Index.
The most beaten realty sector index gained 1.40 per cent at 2,143.12, followed by metals index, up 1.01 per cent at 15,647.74. Auto sector index gained 0.95 per cent to 9,189.82 and consumer durables by 0.72 per cent to 6,201.43.
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The Sensex, which ended on a flat note in the past two sessions, moved up 72.19 points or 0.39 per cent to 18,584.96, as stocks of State Bank of India, Tata Motors, Tata Steel, Hero Honda and Infosys recorded smart gains.
Similarly, the broad-based National Stock Exchange index Nifty rose by 23.80 points or 0.43 per cent to 5,565.05.
Stocks of Ranbaxy, the largest drugmaker by revenue, surged 6.37 per cent to Rs 477.70 after reporting first quarter earnings yesterday that beat market estimates. The healthcare index rose by 0.51 per cent to 6,088.95.
Brokers said investor sentiment improved somewhat after yesterday's meeting to hike fuel prices was postponed.
The imminent hike has been weighing heavy on the stock markets, as investors fear that the move would stoke inflation, leading to a further rise in interest rates.
They said a mixed trend in the Asian region and higher openings in Europe helped the market.
Realty, metal, auto and consumer durables remained on the fore-front and drove up the market.
Tata Steel rose 0.73 per cent to Rs 593.35, and Sterlite Industries by 1.47 per cent to Rs 176.60.
Metal stocks gained on firming trend in the London Metal Exchange Index.
The most beaten realty sector index gained 1.40 per cent at 2,143.12, followed by metals index, up 1.01 per cent at 15,647.74. Auto sector index gained 0.95 per cent to 9,189.82 and consumer durables by 0.72 per cent to 6,201.43.
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