Suzlon Energy rules Sensex on Friday, Nifty stays tepid

Suzlon Energy gained 17.45 percent at Rs 21.20 in a healthy market today making it the leading stock before the Sensex closed for the day. The Sensex closed for the week at 20,103.53 points, a gain of 179.75 or o.90 percent. The Nifty also made a marginal climb to 6,074.65 with an addition of 55.30 points or 0.92 percent before seeing off the week.

The rally in the markets was particularly seen because of the scheduled RBI meeting on Tuesday where a repo rate cut of 25 basis points is expected even though the fear of higher inflationary threats looms.

[caption id=“attachment_602374” align=“alignleft” width=“380”] Good rally. Reuters[/caption]

The auto segment in the indices did well with Maruti Suzuki India leading the bunch owing to its sterling performance in Q3. Boosted by Ertiga’s good show and Swift DZire models, the MSI made over two-fold jump in net profit at Rs 501.29 crore in Q3 that ended on December 2012. In the corresponding period last year, the company’s profit stood at Rs 205.62 crore due to labour unrest and poor sales.

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The backing from New Delhi to pep up the economy is also playing a crucial role in infusing positive sentiments in the market with Union ministers P Chidambaram and Anand Sharma scouting the globe to attract investors.

“I can see that there is enthusiasm, there is express desire to engage more with India and invest in India, by believing in the commitment in India and in economic reforms and liberalisation and also to create a regime that is friendly to investors,” said Sharma in Davos in the sidelines of the World Economic Forum meet.

Stocks in news

Suzlon Energy added Rs 3.15 more to its share on a day when the stock made a bull run rising 17.45 percent at Rs 21.20. The previous close of the stock was at Rs 18.05 on Thursday.

HDIL rose 10.05 percent to end the week at Rs 82.15. This is an increase of Rs 7.50 than the last close.

Maruti Suzuki India became costlier by Rs 66.50 or 4.33 percent with its share priced at Rs 1,603 at close. The last close price was Rs 1,536.50.

Coromandel International Ltd was the leading loser of the day with its share slipping 3.24 percent at Rs 224.30. This was a fall of Rs 7.50 from its last close at Rs 231.80.

Marico Ltd, a FMCG firm found itself in the wrong graph of the Bombay indices today with a fall of 2.29 percent at Rs 217.35.