Key benchmark indices surged in late trade after witnessing a bout of volatility in mid-afternoon trade. Easing of inflation based on the wholesale price index to 8-month low of 5.05% in January 2014, strong response to the telecom spectrum auction which will help the government achieve its fiscal deficit target of 4.8% of gross domestic product for the year ending 31 March 2014 boosted sentiment as the 50-unit CNX Nifty regained the psychological 6,000 level after falling below that level in intraday trade. Gains in Asian and European stocks also underpinned sentiment on the domestic bourses. The BSE Sensex closed at 20374.29 and 180.94 point up.
Who Moved and Why
- Hanung Toys slumps after reporting net loss in Q3.
- M&M cuts losses after decent Q3 numbers.
- SBI slips after weak Q3 earnings
- United Spirits drops after poor Q3 outcome.
- Select stocks drop ex-dividend.
- Amtek Auto jumps after strong quarterly earnings.
- Telecom stocks gain after spectrum auction concludes.
- ONGC drops amid volatility after Q3 results.
- Future Retail spurts on turnaround in December quarter.
- IOC drops after reverse turnaround in Q3.
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Indian Economy :- http://en.wikipedia.org/wiki/Economy_of_India