Indian markets recover from early fall, end in green

February 25th, 2008 - 7:16 pm ICT by admin  

A file-photo of Sensex

Mumbai, Feb 25 (IANS) In line with global trends, India’s capital markets Monday ended on a positive note, fuelled by a feel-good factor in the wake of the Reliance Power Ltd’s bonus issue announced Sunday. The markets opened in the green but soon slipped into the red. They managed to regain momentum by noon with heavy buying witnessed in oil and gas, IT and pharmaceutical scrips.

However, the Bombay Stock Exchange’s (BSE) Midcap and Smallcap indices bore the brunt of the early volatility in the market and could not recover, end the day with losses.

The 30-share sensitive index (Sensex) of BSE opened at 17,523.81 points and notched a high of 17,674.06 before closing at 17,650.57 points. It gained 301.50 points or 1.74 percent at the day’s close.

The S&P CNX Nifty index on the National Stock Exchange (NSE), which opened at 5,112.25 points, closed at 5,200.70 points after touching the day’s high at 5,212.35. At close, it registered a gain of 89.95 points or 1.76 percent.

The BSE Midcap index, which closed at 7,594.41 points, went down fractionally by 0.04 points. The BSE Smallcap index, which closed at 9,526.28 points, went down 69.13 points or 0.72 percent.

On BSE, the market breadth was modest with low trading volumes. A total of 1,066 shares advanced, 1,605 shares declined and 69 shares remained unchanged.

Other Asian markets also closed in the green Wednesday.

The top gainers of the day at BSE included Associated Cement Companies at Rs.818.35, up 5.69 percent, Reliance Industries at Rs.2,551.70, up 5.02 percent, Ambuja Cements at Rs.122.55, up 4.43 percent and Reliance Energy at Rs.1,622.70, up 4.29 percent.

The top losers of the day at BSE were Bajaj Auto at Rs.2,202.95, down 4.04 percent, HDFC Bank at Rs.1,422.70, down 3.54 percent, Hindustan Unilever at Rs.215.40, down 0.16 percent and Mahindra and Mahindra at Rs.628.60, down 0.03 percent.

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