Equity markets end losing streak, Sensex surges 536 points (Roundup)July 17th, 2008 - 6:53 pm ICT by IANS
Mumbai, July 17 (IANS) Indian equity markets ended their four-day losing streak and closed Thursday with hefty gains, piggybacking on strong global cues and fall in crude oil prices for the second consecutive day. There was frenzied buying in realty, banking and technology stocks. Except metal, all the sectoral indices ended the day in the green.
The markets started on a positive note and extended their gains in the afternoon.
The 30-share benchmark index of the Bombay Stock Exchange (BSE), the Sensex, which opened at 12,909.57 points, touched a high of 13,150.35 before closing at 13,111.85. It went up by 536.05 points or 4.26 percent from its closing figure Wednesday.
The S&P CNX Nifty index of the National Stock Exchange, which opened at 3,823.15 points, closed at 3,947.20. It went up by 130.50 points or 3.42 from its previous close.
The BSE Midcap index, which closed at 5,155.34 points, went up by 67.06 points or 1.32 percent.
The BSE Smallcap index, which closed at 6,387.12 points, went up by 62.67 points or 0.99 percent.
The market breadth was positive. On BSE, 1,536 shares advanced, 1,081 declined and 74 maintained status quo.
Top gainers of the day included HDFC at Rs.1888.70 up 9.78 percent, Maruti Suzuki at Rs.599.70 up 9.46 percent and Jaiprakash Associate at Rs.149.05 up 9.19 percent.
Top losers of the day included Ranbaxy Labs at Rs.452.20 down 3.93 percent and Tata Steel at Rs.607.40 down 2.92 percent.