* Benchmark BSE index gains 0.86 pct to record close
* NSE index up 0.97 pct to close at record high
* Metals, energy stocks gain
By Indulal PM
MUMBAI, June 5 Indian shares ended at a fresh
closing high on Thursday, helped by gains in resources stocks
such as Sesa Sterlite on continued optimism over the revival of
the domestic economy.
Metal stocks continued to gain, surging for the third
straight day on the back of positive China factory surveys
earlier this week.
The sentiment was further underpinned as overseas investors
bought Indian shares worth $32.25 million on Wednesday, in a
third straight session of buying.
"There are no visible near-term negatives. Investors are
building portfolios ahead of the union budget, which would be
the next big event. FIIs (foreign institutional
investors)continue to support. The undercurrent is still
positive," said Suresh Parmar, head of institutional equities at
KJMC Capital Markets.
The benchmark BSE index ended 0.86 percent higher
at 25,019.51, a record closing high, surpassing Tuesday's Close
The broader NSE index ended 0.97 percent higher at
7,474.10, a fresh record closing high. NSE on Tuesday closed at
Among metal stocks, Tata Steel Ltd rose 3.6
percent, gaining 17.23 percent so far this week and Hindalco
Industries Ltd closed up 5.7 percent, gaining 14.8
percent this week. Sesa Sterlite shares rose 6.5
State-run oil marketing companies such as Hindustan
Petroleum Corp Ltd gained 5.3 percent, Bharat
Petroleum Corp Ltd closed up 7.6 percent and Indian
Oil Corp. ended 4.3 percent higher on optimism about
diesel price deregulation.
Among oil and gas firms, Reliance Industries Ltd
gained 1.2 percent while Oil India Ltd rose 2.02
percent. Oil and Natural Gas Corp. closed 1.98 percent
Shares of Indian tyre makers rose 2 to 4 percent as prices
of natural rubber fell to their lowest in 4-1/2 years in the
Apollo Tyres Ltd gained 3.4 percent and Ceat Ltd
closed 4.6 percent higher.
Technology stocks gained on value buying. Infosys Ltd
closed 1.9 percent higher while Wipro Ltd
gained 1.8 percent.
Pharmaceutical companies' stocks were among those that fell.
Dr Reddy's Laboratories ended 0.4 percent lower while
Cipla Ltd closed down 0.9 percent.
HDFC Bank Ltd closed 1.4 percent lower on
For additional stocks on the move double click
FACTORS TO WATCH
* Euro hovers near 4-month lows as ECB looms
* Oil falls to 3-week low under $108 on hopes for Ukraine talks
* Europe stocks hold steady, euro hostage to ECB
* Foreign institutional investor flows
* For closing rates of Indian ADRs
ASIA-PACIFIC STOCK MARKETS:
Pan-Asia........ Japan....... S.Korea...
S.E. Asia....... Hong Kong... Taiwan....
Australia/NZ.... India....... China.....
Wall Street .... Gold ....... Currency..
Eurostocks..... Oil ........ JP bonds...
ADR Report ..... LME metals. US bonds..
Stocks News US.. Stocks News Europe
DIARIES & DATA:
Indian Data Watch Asia earnings diary
U.S. earnings diary European diary
Indian diary Wall Street Week Ahead
Eurostocks Week Ahead
For top Asian company news, double click on:
U.S. company news European company news
Forex news Global Economy news
Technology news Telecoms news
Media news Banking news
Politics/General Asia Macro data <ECONASIA
(Reporting by Indulal PM; Editing by Anupama Dwivedi)