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Sensex rises 202 points on positive global cues

Wednesday September 07, 2011 08:27:00 PM, IANS

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Indian stock markets rally, outperform global peers

Benchmark indices for Indian equities rallied more than 6 percent in a truncated trading week, outperforming bourses in other developed markets. The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE) ended the week 6.14 percent or 972.63 points up at 16,821.46 points.   

Rally looses steam, Sensex closes 108 points lower

Mumbai: A benchmark index for Indian equities markets rose 202 points Wednesday, rallying for the second consecutive day on positive cues from other Asian and European bourses.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened in the positive at 16,922.31 points, consolidated its gain in afternoon session and ended the day at 17,065, up 1.20 percent or 202.19 points from the previous close at 16,862.81 points.

At the National Stock Exchange, the 50-scrip S&P CNX Nifty closed 1.19 percent or 60.35 points higher at 5,124.65 points.

Buying activities were across the board, as broader markets as well as all sectoral indices at the BSE, except FMCG index, closed in the positive.

The BSE midcap index closed 1.24 percent higher at 6,473.52 points and the BSE small cap index ended 1.53 percent up at 7,307.02 points.

There was strong buying support in realty, auto and banking stocks.

Jaiprakash Associates surged almost 8 percent on speculation that the company was in talks with South America firms Cemex and Votorantim Group for minority stake sale. The scrip closed 7.70 percent higher at Rs.71.35.

HDFC Bank, up 3.42 percent at Rs.487.95; Coal India, up 3.38 percent at Rs.391.25; Tata Power, up 3.38 percent at Rs.1,038.70; NTPC, up 2.95 percent at Rs.167.40 and Hindalco Inds, up 2.87 percent at Rs.159.65 were among the major gainers of the day.

Only six of the 30 Sensex scrips closed in the red. ITC, 0.99 percent down at Rs.200.20; Mahindra & Mahindra, down 0.99 percent at Rs.786.55; Infosys, down 0.53 percent at Rs.2,291.20 and Bajaj Auto, down 0.20 percent at Rs.1,640 were major losers.

Most Asian markets rebounded Wednesday after three days of slump, with Japan's Nikkei closing 2.01 percent higher at 8,763.41 points. Hong Kong's Hang Seng index rose 1.71 percent at 20,048 points and Chinese Shanghai Composite index advanced 1.84 percent at 2,516.09 points.

European markets rallied for the second consecutive day. Around mid-day, Britain's FTSE 100 was 1.70 percent higher at 5,244.65 points. French CAC 40 index was ruling 2.31 percent up at 3,034.29 points and German DAX index was trading 2.35 percent higher at 5,316.07 points.



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