Markets make substantial recovery to end the week in greenMarch 14th, 2008 - 7:50 pm ICT by admin
Mumbai, March 14 (IANS) Indian stock markets made a recovery and closed the day in the green Friday, raising investors’ confidence with substantial buying support from key sectors, though global cues were mixed. The markets that opened in the green as per international cues, went flat, but managed to pick up in the second half with buying support in important sectors like metals, realty, oil and gas, capital goods and banking scrips.
The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE) opened at 15,467.39 points and notched a high of 15,798.42 before closing at 15,760.52 points. It gained 403.17 points or 2.63 percent at the day’s close.
The S&P CNX Nifty index on the National Stock Exchange (NSE), which opened at 4,623.80 points, closed at 4,745.80 after touching the day’s high at 4,758.95 points.
At close, it registered a rise of 122.20 points or 2.64 percent.
The BSE Midcap index, which closed at 6,583.45 points, went up 55.78 points or 0.85 percent.
Similarly, the BSE Smallcap index, which closed at 8,079.50 points, went up 4.32 points or 0.05 percent.
On BSE, the market breadth was extremely low with low trading volumes. A total of 1,214 shares advanced, 1,458 declined and 59 remained unchanged.
The top gainers of the day included Reliance Energy at Rs.1,296.15, up 8.26 percent, DLF at Rs.654.25, up 7.83 percent, Jaiprakash Associates at Rs.236.25, up 7.83 percent and ICICI Bank at Rs.878.20, up 4.81 percent.
Reliance Energy that traded weak during the day surged ahead just before closing and catapulted among the day’s top gainers.
The top losers of the day were Bharti Airtel at Rs.752.95, down 3.27 percent, Maruti Suzuki at Rs.835.20, down 0.54 percent, Mahindra and Mahindra at Rs.649.45, down 1.75 percent and Ambuja Cements at Rs.120.00, down 0.70 percent.