Metal stocks jumped on Monday, boosted by China’s move to make the yuan exchange rate more flexible.
Prices of industrial metals jumped in London as China’s pledge on the yuan raised hopes of stronger demand growth in China.
The finance ministry on Saturday said life insurers could sell unit-linked insurance plans without seeking a nod from the Securities and Exchange Board of India (SEBI).
This ends a spat between regulators over the much sought after product. Under the law, such orders issued when parliament is not in session must be confirmed by lawmakers in their next sitting.
Metal counters ended the week on a negative note with the sectoral index slipping 1.18 percent, the worst among all sectors.
Sterlite Industries fell 2.3 percent, as Shanghai copper fell more than 1 percent, following a 3.1-percent tumble in London prices.
Shares in engineering and construction company Larsen & Toubro rose more than 3 percent on Thursday on improving outlook in the backdrop of a rapidly expanding economy.
The stock, which also ended as the top Sensex gainer, has gained 9 percent this month.
Shares in state-run trading firm MMTC fell 1,412 rupees to 33,064 rupees, after rallying nearly 21 percent in the previous session.
The stock had jumped to 34,476.60 rupees on Tuesday after the firm said it would consider a bonus issue and stock split on June 29.
Tuesday turned out to be a good day for real estate counters, with the sectoral index rising 2.6 percent, and all but one component closing positive.
Shares in HDIL jumped nearly 5 percent to end as the top gainer in the index. Bigger players like DLF and Unitech rose nearly 3 percent each.
Shares in software services firms rose on Monday on heavy investor interest, helped by global recovery and improving order visibility.
The BSE IT Index jumped 3.7 percent with shares in top firms TCS and Infosys gaining 2.85 percent and 4.3 percent respectively. Infosys also ended as the top Sensex gainer.
It was mixed luck for the realty sector at the markets on Friday, with some counters making good gains and some stalwarts closing in the red.
Puravankara and Parsvnath Developers rose over 7 percent and 4 percent respectively, while Indiabulls Real Estate, Unitech and Ansal Properties closed in the red, capping gains in the sectoral index which closed just 0.4 percent up.
NEW DELHI (Reuters) – Stock funds that invest in consumer goods and pharma sectors led mutual fund gainers in May, while diversified equity funds fell in line with the benchmark as key stock indices dropped on euro zone worries.
Funds which focus on investing in the consumer goods space returned an average 2.47 percent during the month, as the BSE FMCG index rose 3.57 percent, outperforming the BSE Sensex that fell 3.5 percent, data from global fund tracker Lipper showed.