Indian equities gain in special tradingOctober 28th, 2008 - 10:06 pm ICT by IANS
Mumbai, Oct 28 (IANS) Indian equity markets, in a freefall for the past few days, took a U-turn with a benchmark index crossing the psychologically important level of 9,000 points in a special ‘muhurat’ trading Tuesday evening, bringing a hope for harassed investors.The muhurat trading, marking the beginning of the Hindu Samvat calendar year 2065, saw the 30-share Sensitive Index (Sensex) of the Bombay Stock exchange closing at 9,008.08 points, up 498.52 points or 5.86 percent.
The Midcap Index gained 191.23 points or 6.45 percent to close at 3,157.46 points, while the Small-Cap Index closed at 3,711.61 points, up 232.77 points or 6.69 percent.
Another indicator of the cheer in the market was that as many as 191 shares in the A group advanced against only eight that declined. Similarly, in the B group, 1,212 shares gained against 269 in decline.
Among the top gainers in the A group were Mahindra and Mahindra, up 12.68 percent; Hindalco, 11.52 percent and Tata Motors 10.82 percent.
Lakshmi, the goddess of wealth, was worshipped on this auspicious day at the BSE to mark the beginning of the new financial year as well as the beginning of the Gujarati new year. A majority of the brokers hail from Gujarat.