Sensex gains 75 pts on fag-end buying in RIL, Infosys | business | Hindustan Times
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Sensex gains 75 pts on fag-end buying in RIL, Infosys

business Updated: Jun 07, 2011 16:50 IST

Carrying forward its modest gains since on Monday, the BSE benchmark Sensex rose marginally by over 75 points to 18,495.62 as investors purchased blue chips like RIL and Infosys amid firm global cues.

The Bombay Stock Exchange benchmark, Sensex, which had gained 44 points in the previous session, rose by 75.51 points, spurred by the gains in top rank heavy weights RIL and Infosys.

It moved in a range of 18,355.30 and 18,545.95 during intra-day trading.

Broad-based National Stock Exchange index Nifty rose by 24.10 points to 5,556.25 following a better trend in Asia and higher opening in Europe.

Market traders said a fall in crude and other commodity prices in overseas market helped assuage the inflation fears. Crude fell amid speculation the oil producing nations might raise output quotas in their meeting on Wednesday. Brent North Sea crude for July delivery on Tuesday dipped 41 cents to $114.07.

They added firming Asian markets and higher opening in Europe rubbed off the sentiment in the market in Mumbai, as investors picked fundamentally strong stocks available at attractive lower prices.

RIL and Infosys that carry nearly 21 per cent weight on Sensex, gained 1.93% and 1.91% to Rs 956.20 a piece and Rs 2,892.75 a piece, respectively.

Realty, IT and refinery sector stocks also gained. The realty sector index rose by 1.59% to 2,171.24, followed by oil and gas index by 1.40% to 9,566.12. IT sector index gained 1.21% to 6,125.94.