Bombay Stocks Close Higher
Bombay stocks closed higher Thursday.
The BSE Sensex recovered to close at 10,573, up 0.6%, after hovering in negative territory for most of the trading session.
Stocks had taken a beating during the previous session because of massive selling by foreign institutional investors. However, renewed buying interest in select sectors helped the Sensex rebound.
Major gainers on the BSE Sensex were leading cement manufacturers
Gujarat Ambuja
, up 6.3% at Rs 98.05,
ACC
, up 5% at Rs 749.40, and
Grasim
, up 4.3% at Rs 1885.95.
Cement stocks have been in the spotlight since cement makers hiked prices last month following a court ruling restricting the loading of cement on trucks.
Birla
was among the gainers at the bourses, rising 9.3%.
Select technology stocks made modest gains at the BSE. Hyderabad-based
Satyam
(SAY)
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and IT company
Infosys
(INFY) - Get Infosys Ltd. Report
both gained more than 1% each.
Among the losers during the day were India's leading drug manufacturer
Ranbaxy
, down 2.6% at Rs 420.25, and motorcycle maker
Hero Honda
, which lost 2.4% to Rs 880.05. Telecom major
Bharti Tele
fell 2.4%, followed by India's top small-car maker
Maruti
and housing-finance company
HDFC
.
This story was created through a joint venture between TheStreet.com and IRIS.
