Free Press Journal

Sensex, Nifty end with gains for 5th day in row; Tata Motors up 4 pct


Sensex surgesstock market, stock gains 0.42%, inflation worries, sensex, nifty, NSE, Foreign portfolio investors (FPIs)

New Delhi: The market on Monday ended with slight gains as the Sensex is up 72.00 points or 0.3 percent at 26725.60, and the Nifty is up 21.85 points or 0.3 percent at 8178.50.

Shares such as Tata Motors, Coal India, NTPC, Hero MotoCorp and TCS were among the top gainers in the Sensex while BHEL, HDFC, Tata Steel, Maruti and Sun Pharma were amongst the losers.

The country’s largest carmaker Maruti Suzuki India today announced temporary suspension of production following fire at the factory of its component supplier Subros Ltd. The fire on Sunday at the Manesar facilities of Subros Ltd, which provides air-conditioning compressors to Maruti Suzuki, has led to disruption of supplies.

“As a consequence, Maruti Suzuki India Ltd will have to temporarily suspend manufacture of cars at its facilities in Manesar and Gurgaon, starting second half Monday (May 30),” said MSI.

The slide in both gold and silver continued unabated for the third day largely in tune with a weakening trend overseas amid tepid demand from jewellers and retailers in the domestic spot markets.

While gold dropped to Rs. 28,665, silver dipped below the Rs. 39,000-mark by falling Rs. 500 to Rs. 38,500 per kg due to reduced off-take by industrial units and coin makers.

According to the experts sentiments in the market remained weak largely in line with a weakening global trend as the prospect of higher borrowing costs in the US damped the appeal for the precious metals, strengthening the dollar. Globally, gold fell 0.90 percent to USD 1,201.90 an ounce in Singapore, a level last seen in February.