Markets ride global wave, Sensex up 2.6 percent (Lead)

March 24th, 2009 - 3:11 pm ICT by IANS  

Sensex Mumbai, March 24 (IANS) Firm global markets helped Indian bourses keep up with the bull rally for the second consecutive day Tuesday, with a key index ruling 2.6 percent higher than its previous close a little before noon.
The Bombay Stock Exchange (BSE) Sensitive Index (Sensex), which opened at 9,549.52 points, higher than its 9,424.02-point close Monday, was at 9,669.31 points, 2.6 percent or 245.29 points higher than its previous close.

At the same time, the S&P CNX Nifty of the National Stock Exchange (NSE) was above the psychologically important 3,000-mark at 3,008.9 points, 2.35 percent up from its last close of 2,939.9.

Among broader market indices, the BSE midcap index was 1.89 percent higher than its previous close, while the BSE smallcap index was also up 1.31 percent.

All the 13 sectoral indices on the BSE were ruling in positive terrain, with the indices for banking and realty stocks gaining the most.

Among the gainers on the Sensex were HDFC Bank, up 9.34 percent at Rs.967.30; ICICI Bank, up 6.27 percent at Rs.368.40; SBI, up 5.82 percent at Rs.1,083, and DLF, up 5.59 percent at Rs.176.75.

There were only four losers on the Sensex around this time: Hindustan Unilever, down 0.61 percent at Rs.237.25; ACC, down 0.57 percent at Rs.554.25; Hindalco, down 0.29 percent at Rs.51.90, and ITC, down 0.17 percent at Rs.174.

In other Asian markets, Tokyo stocks shut shop in the green Tuesday. Japan’s benchmark Nikkei 225 Stock Average closed 272.77 points higher than its previous close.

The Hang Seng, a key index of the Hong Kong Stock Exchange, was ruling 1.59 percent or 213.87 points above its last close at 13,661.29 points.

US stocks ended in the green Monday, with the blue-chip Dow Jones Industrial Average ending trade 497.48 points, or 6.84 percent up at 7,775.86.

The broader Standard and Poor’s 500 index climbed 7.08 percent or 54.38 points to 822.92, while the technology-heavy Nasdaq Composite Index gained 98.5 points, or 6.76 percent to 1,555.77 points.

Canadian markets followed their American peers as the Toronto Stock Exchange (TSX) composite index closed 5.32 percent higher at 8,958.51 points Monday, 452.16 points above its previous close.

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