Mumbai: Indian stocks extended Tuesday’s gains despite crude oil prices stubbornly hanging around $115 a barrel as the crisis in Libya escalates. The gains could have been due to the introduction of the GST and Banking Amendment Bill or because investors thought the market was oversold.
Warren Buffett, who is on tour here to persuade local millionaires to cough up for charity, did his bit too. He called India “dream market for investors” in an interview to CNBC-TV18.
Sensex: 18206.16, 1.21%
Nifty: 5480.25, 1.23%
Topix: 861.1, -0.81%
Nikkei: 9449.47, -1.65%
Real estate and banking stocks led the gains followed by the healthcare index, which seems to be relieved by finance minister Pranab Mukherjee’s 5% service tax roll back.
Realty: 2118.77, 1.92%
Bankex: 12463.22, 1.85%
Health Care: 5947.72, 1.51%
ICICI Bank Ltd was the leader among banks. Bharat Heavy Electricals Ltd also did well after it won an order along with ABB for a power transmission link. Retail stocks including Pantaloon Retail (India) Ltd and Shopper’s Stop Ltd rejoiced in the increase in abatement to 55% from 40% on the retail sale prices.
ICICI Bank: Rs 1041.05, 3.76%
Bhel: Rs 1994.40, 2.43%
Pantaloon: Rs 262.70, 6.96%
Shopper’s Stop: Rs 342.50, 4.39%