Nifty Ends at New Closing High

ECONOMY ANALYSIS

• Nifty ends at new closing high; ITC falls 2%, M&M gains 3%
• HCC's Lavasa project gets Sebi nod for IPO, stock zooms
• Amara Raja Q2 profit up 6% to Rs 100 cr, revenue jumps 32%
• HPCL to take 8% stake in Petronet's Gangaravam LNG terminal
• Panel to meet today to mull coal auction price

MARKET ANALYSIS

• The S&P BSE Sensex to a fresh closing high in a volatile trade on Tuesday, led by gains in HDFC, ICICI BankBSE 1.02 %, RIL, Axis BankBSE 1.42 % and M&M.
• Tracking the momentum, the 50-share Nifty index also managed to recoup intraday losses and closed above its crucial psychological level of 8350 to a fresh closing high, supported by gains in banks, autos, realty and capital goods stocks.
• The 50-share index finally closed at 8,362.65, up 18.40 points or 0.22 per cent. It touched a high of 8,378.70 and a low of 8,321.85 in trade today.
• The S&P BSE Sensex closed at 27,910.06, up 35.33 points or 0.13 per cent. It touched a high of 27,996.92 and a low of 27,790.40 in trade today.
• M&M (up 2.3 per cent), Tata SteelBSE 1.84 % (up 1.8 per cent), GAIL (up 1.6 per cent), Axis Bank (up 1.4 per cent) and HDFC (up 1.09 per cent) were among the major Sensex gainers.
• BHELBSE -2.41 % (down 2.4 per cent), ITC (down 1.9 per cent), Bharti AirtelBSE -1.43 % (down 1.4 per cent), InfosysBSE -1.09 % (down 1.09 per cent) and Coal India (down 1.03 per cent) were the major index losers.