Meanwhile, investors will watch out for the Brexit poll outcome before markets open for trade tomorrow.
The S&P BSE Sensex gained 237 points to close at 27,002 and the Nifty50 surged 67 points to finish at 8,270.
“Markets witnessed range bound trades in the past two days, however it
shot up in the late trades today on the back of decrease in the selling
pressure amid uncertainty regarding the mega Brexit referendum.
Meanwhile, lower volumes are exchanged across the exchanges. If Britain
decides to stay in the EU then Nifty can
see 8,250 levels otherwise it may drop up to 7,700 levels. Post the
event, markets will keenly wait for the announcement of the beginning of
the Monsoon session of Parliament as passage of the crucial GST bill
remains pending,” says A K Prabhakar, head of research, IDBI Capital.
European shares soared on as firmer copper prices boosted mining
stocks, while hopes among investors that Britain would vote to stay in
the European Union also supported markets. FTSE 100, DAX and CAC 40
gained between 1.5%-2% each.
Asian equities closed mixed as investors remain edgy ahead of the UK
vote outcome on whether to leave the European Union (EU). Japan’s Nikkei
ended up 1%, China’s Shanghai Composite closed 0.5% lower while Straits
Times and Hang Seng gained 0.3% each.
Among some of the notable gainers are Tata Motors, SBI, ITC, Axis Bank and HDFC Bank gaining between 1.5%-3.5%.
Lupin surged
1.7% after it received final approval from the USFDA for Amabelz
tablets (Estradiol and Norethindrone Acetate Tablets USP, 0.5mg/0.1mg
and 1mg/0.5mg) to market a generic version of Amneal Pharmaceuticals'
Activella tablets.
Sun Pharma gained
2% after the company said its board will hold a meeting on later today
for evaluating a proposal of Buy Back of Equity Shares of the Company.
Among others, Dr Reddy's Labs was up 1.5%.
GAIL India
ended with marginal gains after it was awarded Rs 550 crore worth of
contracts for laying part of 'Urga Ganga' gas pipeline from Phulpur in
Uttar Pradesh (UP) to Haldia in West Bengal (WB).
Metal companies like Tata Steel and Hindalco, auto majors such as Tata
Motors, Motherson Sumi, IT companies like TCS, Tech Mahindra, HCL Tech
and Pharma companies like Lupin, Dr Reddy’s Laboratories are likely to
get impacted in case Britain decides to leave European Union (EU). Tata Motors was
up 3.5%, Tata Steel was up nearly 1%, Hindalco gained 1.5%, Motherson
Sumi lost 0.7%, Lupin and Dr Reddy’s Lab gained 1.7% and 2%
respectively.
The government will sell 2.06 crore shares in NTPC to eligible employees at a price of Rs 115.90, a 5% discount to the price of Rs 122 at which the government sold 5 per cent stake in the power generator in February. The stock lost over 2%.
The government will sell 2.06 crore shares in NTPC to eligible employees at a price of Rs 115.90, a 5% discount to the price of Rs 122 at which the government sold 5 per cent stake in the power generator in February. The stock lost over 2%.
Drug Controller General of India (DCGI) has given nod to Biocon and its
partner Quark Pharmaceuticals to proceed with clinical trials on human
subjects for a new drug candidate, ‘QPI-1007’ aimed for ocular
neuroprotection. Biocon jumped 0.4%.
MTNL surged 5% after the state-run telecom firm said it will submit its
revival plan to the Department of Telecommunications (DoT) by August
this year which aims to bring the loss making public sector undertaking
(PSU) out of the red.
Reliance Power received a show-cause notice from Union ministry of coal
(MoC) for the delay in developing coal blocks associated with its
4,000-Mw Ultra Mega Power Project (UMPP) at Tilaiya in Jharkhand.
Reliance Power lost 0.4%.
Auto stocks continue the run-up on the back of progress in monsoon
rains. Hero Motocorp, Bajaj Auto and Maruti Suzuki gained between
0.3%-1.5%.
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