Markets end at one-week high; Tata Motors lead

Markets end higher for a second consecutive trading session this Thursday with key benchmark indices hitting their one-week high on back of significant buying witnessed in software makers and auto companies.

The Bombay Stock Exchange's 30-share index Sensex rose 127.75 points to end at 18,542.20 while the National Stock Exchange's 50-share Nifty gained 35.30 points and closed at 5,594.00.

Both the indices witnessed highest close since April 3.

Foreign institutional investors bought Rs 0.40 billion worth of stock on Wednesday, according to provisional exchange data.

The key trigger for markets will be Infosys results on Friday coupled with Industrial production numbers, which is also due on the same day.

Global risk appetite was firm on hopes of global growth recovery after aggressive monetary policy stimulus by Japan coupled with positive economic data from China.

China recorded a mild trade deficit of $884 million in March as imports surged way ahead of market expectations, growing 14.1% year-on-year, while annual export growth of 10.0% were largely in line with forecasts.

Asian markets ended mixed with China’s Shanghai Composite Index falling 0.3% to 2,219.93, Hong Kong’s Hang Seng gained 0.3% to 22,101.23, Singapore’s Straits Times gained 0.45% to 3,308 while Japan’s Nikkei was up 2% to 13,549.

Meanwhile, European markets opened on flat note with France’s CAC gaining 0.24% to 3,752, Germany’s DAX rose 0.01% to 7,811 and UK’s FTSE was up 0.04% to 6,390.

Back home, the key sectoral indices such as IT, real-estate, bankex and capital goods sectors gained while oil &

gas, metals, power, PSU lead declines on BSE.

The gainers on the Sensex included counters such as Tata Motors surging 4%, ICICI Bank, SBI and HDFC Bank rising 1-3.5%, Infosys was up 3.7% while Larsen & Toubro rose 2%.

The laggards included names such as Bharti Airtel declining 2.3%, HDFC dropped 2 %, Tata Steel fell 2.2%, Reliance Industries was down 1.3% on BSE.

The key notable movers included stocks such as Jindal Stainless that surged almost 9% to Rs 56.05after the company said it has signed a Memorandum of Understanding (MoU) with a South Koeran steel major Posco to mutually cooperate with each other for long-term joint business opportunities.

Kingfisher Airlines' scrip today surged nearly 5% after the company sought regulatory approvals to relaunch its operations and submitted plans to the DGCA on infusion of funds and revival of its flights.

Tata Motors surged nearly 4% on the back of higher than expected sales of Jaguar Land Rover. Yesterday, JLR said their retail volumes grew by 16% in March.

Jet Airways dropped over 3% to Rs 485.05 on news that stake sale to Etihad Airways may be delayed until August.

The broader markets ended positive with mid-caps inching 0.06% up while small-caps gained 0.6% on BSE.

The market breadth was positive. Out of 2,447 stocks traded, 887 stocks gained compared to 796 declines on BSE.