Sensex Ends Above 38,000 Points, Eicher Motors Jumps

It was yet another day of strong gains for the markets, as heavyweights like Reliance Industries and ICICI Bank once again led gainers. Strong buying was seen across the banking sector as well, though IT stocks were a tad weak in trade today.

The Nifty ended the day with gains of 82 points, while the Sensex was up above the 38,000 points level. Shares in Yes Bank was among the big losers in trade, and has been falling ever since the completion of the FPO of the company. Analysts see a further downside to the stock nearer the FPO level of Rs 12 to Rs 13.

PNB Housing Finance shares ended the day higher by 5 per cent, despite net profit down 10% to Rs 257.2 crore. SpiceJet also saw its shares rally after the company informed the exchanges that it has been designated as the Indian scheduled carrier to the United States of America.

IT stocks were a tad weak in trade today with both Infosys and TCS ending the day lower. Both the stocks have had substantial rallies from lower levels. Axis Bank, Shree Cements and HUL were among the top losers from the Nifty space.