Indices extend gains as RBI stance remains unchanged as accommodative!

Mahindra Lifespace Developers, UTI AMC and Alok Industries were among the day’s movers in BSE500.

The headline indices extend gains for the third trading session with Sensex closing at 58926.03 with a gain of 0.79 per cent or 460 points while the Nifty closed at 17605.85 with a gain of 0.81 per cent or 142 points.

The buoyancy continued in the almost entire broader markets barring marginal loss in the capital goods segment. Among sectoral indices BSE Power, BSE Metal, BSE Finance and BSE IT gained above 1 per cent, while BSE Auto and BSE Consumer Durables traded flat. BSE 500 closed at 24009.28 with a gain of 0.62 per cent.

Mahindra Lifespace Developers, UTI AMC and Alok Industries were among the day’s movers in BSE500.

Mahindra Lifespace Developers stock surged 20 per cent after it announced that it will purchase 9.24 acres of land in suburban Kandivali, in Mumbai from Mahindra & Mahindra Ltd for residential development on a base consideration of Rs 365 crore. The stock logged its 52-week high at today’s closing price of Rs 321.50 apiece.

UTI AMC gained 7.36 per cent in today’s trading session to close at Rs 888.30. The intraday high and low for the stock were at Rs 895 and Rs 832. The stock showed some recovery after trading in red for several trading sessions, logging 1 month’s loss of 23 per cent.

Alok Industries, the loss-making textile company saw some action as it gained 6.12 per cent in today’s trading session. The stock closed at Rs 29.50 with an intraday high and low of Rs 29.75 and Rs 27.35.