Sensex up’s and Nifty advances to 6,252 points…


At an early stage the Market update: Sensex is up 75 points at 21,062, off nearly 60 points from its day’s high of 21,120.25. Nifty is up 18 points at 6,256.90.

Tata Motors was up 4.1 per cent to 417 while Hindalco and TCS were up nearly 3 per cent.

Shares in Maruti Suzuki was down 5 per cent as doubts persist about the impact of the automaker’s plan to source cars from a plant to be built by its parent Suzuki Motor.

Fertiliser stocks in action today after Cabinet approves hike in fixed cost of urea by Rs. 350/ton. The industry had demanded for hike of Rs. 700/ton. Hike in urea cost will increase fertiliser subsidy by Rs. 900 crore.

Rashtriya Chemicals & Fert, Chambal Fertilizers and Coromandel International were up between 1.5 per cent and 3 per cent.

By recent trends the Markets pare gains: Sensex up 70 points at 21,056 while Nifty advances 13 points to 6,252. IT and healthcare stocks led the markets today with the BSE IT index rising 0.9 per cent and the pharma index gaining 1.8 per cent.

TCS is up 3.6 per cent while Sun Pharma advances 2.4 per cent and Dr Reddy’s Lab rises 2.6 per cent.

The Sensex may hit 22,000 level before the general elections on hopes that a stable government at the Centre after polls will be able to unleash strong measures to revive economic growth, experts have said.

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