Market ends five-day losing streak (Roundup)June 25th, 2008 - 6:54 pm ICT by IANS
Mumbai, June 25 (IANS) The Indian equities market ended its five-day losing streak and closed the day in green on the back of short covering by the investors ahead of the expiry of June 2008 derivatives. Metal, realty and Oil and Gas sectors led the gaining rally.
The market shrugged off the repo and CRR hike by the Reserve Bank Of India Tuesday.
The market started with a sharp cut reacting to the RBI’s move but made a smart recovery by afternoon trade and closed the day with a gain.
The 30-share benchmark of the Bombay Stock Exchange (BSE) sensitive index (Sensex) opened at 13,856.07 points, touched a high of 14,248.65 before closing at 14,220.07 points. It went up by 113.49 points or 0.80 percent at the day’s close.
The National Stock Exchange (NSE) S & P Nifty, which opened at 4189.60 points, closed at 4252.65 points. It went up by 61.55 points or 1.47 percent.
The BSE Midcap index, which closed at 5,746.66 points, went up by 33.92 points or 0.59 percent.
BSE Smallcap index which closed at 7,058.02 points went up by 51.60 points or 0.74 percent.
The market breadth was positive. On the BSE , 1370 shares advanced, 1264 declined and 73 maintained status quo.
The gainers of the day were Reliance communications at Rs.509.05 which went up by 7.20 percent, Tata Steel at Rs.742.95 gained 4.46 percent, and the DLF at Rs.458.30 that was up by 4.19 percent.
The top losers of the day included HDFC at Rs.2168.90 down by 4.29 percent, Wipro at Rs.456.50 lost 2.91 percent, Cipla at Rs.207.60 went down by 2.54 percent.
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