Indian stock market continued their upward momentum for the third straight day on the back of strong global cues and heavily participation by foreign Institutional Investors (FIIs). Sensex crossed the psychological mark of 20000 for the first time since January 31, 2013. The 30-share index Sensex ended the day at 19990 up by 101 points while 50-share index Nifty closed at 6069 surged 25 points.
Foreign funds have bought a net $680 million of Indian stocks in the three sessions to May 3, taking the 2013 net buying to a total of $12.17 billion. The Dow closed above 15,000 for the first time on Tuesday helped to drive stocks advanced.
HDFC surged nearly 4 per cent on the back of 17 per cent rise in quarterly net profit at Rs 1,555 crore ITC also closed with over 2 per cent gains after the Uttar Pradesh government reduced VAT on cigarettes from 50 per cent to 25 per cent.
Among the sectoral indices CNX Media surged 2.84% followed by CNX FMCG (1.27%) and CNX Finance (0.93%). CNX Metal was the biggest loser of the day plunging by -0.47%.
Out of 50 stocks of Nifty 23 stocks were in green zone, 26 stocks in red zone and 1 stock remain unchanged.
Top 5 Nifty gainers: HDFC (4.75%), ITC (2.83%), LUPIN (2.57%), Ultra cement (2.51%) and IndusInd Bank (2.08%) were among the top gainers.
Top 5 Nifty losers: Ranbaxy (-3.08%), Bharti Airtel (-2.37%), Tata Steel (-1.76%), Hero Motorcorp (-1.71%) and BOB (-1.43%) were top losers.
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