Sensex ends above 28,700; Nifty reclaims 8700

NEW DELHI: Indian shares rose on Wednesday, marking their highest close in three weeks, led by gains in resources stocks such as Coal India and Reliance Industries.

Coal India climbed 5.8 percent on reports that the government has lifted the cap on the company's e-auction sales.

Reliance Industries surged about 4%, marking its biggest daily gain since March 3.

The 30-share BSE index rose 0.67 percent while the 50-shares NSE index gained 0.62, closing at their highest level since March 17.
Markets @ close

- Sensex ends day at 28,707.75; up 191.16 points. Nifty closes at 8,716.00; up 55.70 points.

- Coal India rallied over 6% intraday as govt has removed cap on e-auction sales

- REC OFS subscribed 200% on institutional demand

- Smallcap index outshines Sensex and Nifty, gains 204.30 points, or 1.79%

- Markets may test 8,000-8,200 on global woes: Andrew Holland, Asianomics

- GATI gained about 3% intraday; the firm plans to raise Rs 120 crore via QIP

- Japan's Nikkei ends at 19,789.81, its best finish since April 2000

- Hong Kong shares @ 7-yr high, see biggest gains in three years

- Kwality surged over 7% intraday, the firm expects to maintain a growth of 30% despite competition

- HPCL gained 5% intraday, BPCL 4%

- ABB India gained over 2% intraday, the firm won order worth Rs 90 crore for switchgears, transformers

- Sebi expects FMC merger to be completed in 6-12 months

Markets @ 1

At 12.57 p.m., Sensex was trading at 28,676.87, up 160.28 points. Nifty was trading at 8,708, up 47.4 points.

Markets @ 12

At 12:00 p.m.; the 30-share index was at 28693.40, up 176 points or 0.62 per cent. It touched a high of 28,700.49 and a low of 28,566.61 in trade today.

The Nifty was at 8715 up 52 points or 0.61 per cent. It touched a high of 8717.75 and a low of 8679.80 in trade today.

Markets at 11.00

The Sensex was trading at 28,647.27, up 130.68 points. The 50-share index was up 42.35 points and was at 8,702.65.

Markets at 9.20

The 30-share index was at 28625.40, up 108 points or 0.38 per cent. It touched a high of 28,666.76 and a low of 28,601.49 in trade today.

The Nifty was at 8702 up 42 points or 0.50 per cent. It touched a high of 8706.25 and a low of 8695.15 in trade today.

The S&P BSE Midcap Index was up 0.54 per cent and BSE S&P Smallcap Index edged higher by 0.65 per cent.

Coal India (up 2.6 per cent), BHEL (up 1.6 per cent), Bharti Airtel (up 1.3 per cent), Dr Reddy’s Laboratories (up 1.2 per cent) and Bajaj Auto (up 1.1 per cent) were among the major Sensex gainers.

Sesa Sterlite (down 1.6 per cent), Tata Steel (down 0.9 per cent), GAIL India (down 0.84 per cent), ONGC (down 0.53 per cent) and Hero MotoCorp (down 0.45 per cent) were the major index losers.

(Wit inputs from PTI)