The Intraday market is seeing strong
gains with support from banks, capital goods, oil & gas and auto stocks.
The Sensex is up 375.57 points or 1.55 percent at 24592.91 and the Nifty is up
110.75 points or 1.53 percent at 7340.70. About 1765 shares have advanced, 974
shares declined, and 101 shares are unchanged. Bank and financial stocks are in
focus with SBI, HDFC and Axis Bank gaining 3 percent each ahead of Reserve Bank
of India's monetary policy review.
The RBI is likely to keep rates
unchanged when it reviews its monetary policy on Tuesday, its first under the new
government spearheaded by Narendra Modi. L&T, SBI, ONGC, HDFC and Axis Bank
are top gainers in the Sensex. Among the losers are HUL, Sun Pharma,Wipro, ITC
and Dr Reddy's Labs.
Aurobindo Pharma shares fell more than
5 percent intraday despite strong numbers in the fourth quarter. Fall in the
stock may be due to profit booking as it rallied more than 11 percent in last
two weeks. Consolidated net profit of the healthcare company grew 362 percent on
yearly basis to Rs 501.8 crore and net revenue jumped 48.5 percent to Rs 2,306
crore in the quarter ended March 2014.
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