Bulls staged smart come back on Wednesday after falling in
last eight consecutive sessions. The Sensex rallied more than 400 points while
the Nifty50 closed above 10,700 levels and formed bullish candle on the daily
charts.The frontline indices
ended over 1 per cent higher, snapping their 9-day losing streak, led by
gains in information technology (IT), financials and metal stocks.Among sectors,
the Nifty Metal index, which was the top gainer of the day, ended
2.99 per cent higher led by Jindal Steel and Tata Steel.
BUZZING STOCKS
Shares of Anil
Dhirubhai Ambani Group (ADAG) companies tumbled by up to 11 per cent on the BSE
in intra-day trade on Wednesday after an unfavorable Supreme Court (SC) verdict
in Ericsson contempt case. In a big setback for Anil Ambani, the SC today held
Reliance Group chairman and its two directors guilty of contempt in pleas filed
by telecom equipment maker Ericsson for not clearing its dues of Rs 550 crore.
Court asked Ambani to pay Rs 453 crore to Ericsson in four weeks, failing which
he will have to serve three months of jail term. Shares of Reliance Capital
ended 4.3 per cent lower at Rs 145.05 on the BSE.
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