Sensex closes on a high, Jet Airways propels, IT firms struggle

Navigated by 24 percent equity infusion by the Abu Dhabi-based Etihad Airways, Jet Airways today cruised at the Bombay Stock Exchange with a 10.69 percent rise in share price at Rs 635.20 on a day when the Sensex closed at 19,406.85, gaining 227.49 points from last close.

Mahindra & Mahindra Financial Services Ltd also made most of its day breaching a new high at 227.85 points, which is a 10.58 percent or 21.80 points more from Tuesday’s close. Among the pharmaceutical firms, Dr Reddy’s Laboratories Ltd also climbed to newer heights touching 1,992.70, which is 4.72 percent or 89.80 points than last close.[caption id=“attachment_728203” align=“alignleft” width=“380”] On a high. Reuters[/caption]

The Sensex was trading on a flat turf till 2.57pm at 19,244.85 after which it picked up at a rapid pace to reach 19,406.85 points.

Tata Motors traded on a green zone today with its share priced at Rs 293.25 till tomorrow’s opening, a high of 4.21 percent from Tuesday’s figures.

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Gail India and NTPC led the public sector enterprises on a flat day with the gas firm’s share gaining 14.05 points at Rs 344.65 while the country’s largest power generator had its scrip priced at Rs 155.15, which is 4.06 percent more than Tuesday.

For Bata India, the scrips made for a gloomy outing with the shoe and socks firm losing a 25.65 points at 704.75, or a negative change of 3.51 percent. The day also ended in the red for leading software firms like Wipro, HCL Tech, TCS and Infosys. Wipro led this pack of disappointed shares with a 2.20 percent or 7.55 points fall at Rs 335.20.

“April series has witnessed strong up-move led by the Banking. IT and Metal stocks remained under pressure. Nifty and component stocks have witnessed strong rollovers with minimal pending positions. Do not expect any significant volatility as we approach the expiry which is expected to be around 5900-5930 levels,” said Sahaj Agrawal, deputy vice president - Derivatives Research, Kotak Securities.

Although the Nifty had fallen to day’s low at 5836.90 points at 2.47pm, it finally recovered to close at 5,916.30 points, a gain of 79.40 points, or 1.36 percent.

On a day, when Jet Airways raked in the moolah, rival SpiceJet was not sitting quietly on the bourses.

SpiceJet was priced at Rs 36.95, which is an addition of Rs 5.70 or 18.24 percent more than its performance on Tuesday.

Jindal Hotels made a gain of 19.23 percent, or a plus of Rs 5 at Rs 31.

Engineers India Ltd featured high in the list of top losers for the day with a 2.92 percent fall to reach Rs 178. This figure is minus Rs 5.35 than the last close.

Realty major DLF also slipped on the indices with a 1.76 percent fall, or ending up Rs 4.35 cheaper at Rs 242.50.