Mumbai -- After witnessing the ups and downs in the afternoon tradings, the buying momentum in late afternoon trades boosted the index to close higher in a range bound trading session.
Though, the market witnessed a narrow range for most of the part of the day as every bout of buying was conclusively settled with selling, still the index heavyweights like RIL, SBI, L&T, Grasim and Ranbaxy pushed the market higher.
Mahindra Tech made a stirring debut on the bourses unlike GMR Infra's subdued debut last week. The scrip opened at Rs. 525 on BSE against its issue price of Rs. 365. Eventually, the scrip closed at 553, up by 51% after touching a high of Rs. 569 and a low of Rs. 523.It recorded volumes of over 18 lakh shares on BSE.
In energy stocks, Oil & Gas were in momentum after the Government announced that it will give bonds worth Rs. 141.5bn to state-run oil refiners this month. IOC has surged by 1.5% to Rs. 473, BPCL is up by 3% to Rs. 358 and HPCL advanced further by 5.2% to Rs. 270.
On contrary, Auto stocks witnessed heavy selling pressure and lost their speed. Bajaj Auto plunged by 1% to Rs. 2722, Hindustan Motors lost by 4% to Rs. 40, M&M tumbled by 0.3% to Rs. 350 and Bharat Forge slipped by 0.5% to Rs. 339.
Unlike Auto stocks, Metal stocks were in limelight led by firm International metal costs. Hindalco maintained its shine by 2.3% to Rs. 176, Hindustan Zinc was high by 1.4% to Rs. 593, Sesa Goa surged by 2.1% to Rs. 1012 and Tata Steel moved further 0.5% to Rs. 528.
Fresh buying helped the Tea stocks to surge higher. Tata Tea spurred by 0.5% to Rs. 834, Jayshree Tea locked 5% upper circuit to Rs. 125, Mcleod Russel climbed by 3% to Rs. 121 and Harrison Malyalam gained by 3.8% to Rs. 94.
