Markets up on strong global cues (Lead)

March 18th, 2009 - 1:49 pm ICT by IANS  

Sensex Mumbai, March 18 (IANS) Buoyed by the good show put up by its global peers, Indian equities markets were in the green Tuesday morning, with a key index ruling 2.39 percent above its previous close and above a psychologically important mark around noon.
The Bombay Stock Exchange (BSE) Sensitive Index (Sensex), which opened higher at 8,956.3 points, was ruling above the psychologically important 9,000 mark, at 9,072.64 points, 2.36 percent or 208.82 points higher than its previous close.

At the same time, the S&P CNX Nifty index of the National Stock Exchange (NSE) was at 2,821.5 points, 2.32 percent up from its last close of 2,757.45.

Among broader market indices, the BSE midcap index was 3.01 percent higher than its previous close, while the BSE smallcap index was up 2.42 percent.

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

Among the gainers on the 30 scrip-composite Sensex were Jaiprakash Associates, up 9.21 percent at Rs.81.20; Sterlite, up 6.31 percent at Rs.311; Reliance Infra, up 5.58 percent at Rs.490; and Tata Steel, up 5.01 percent at Rs.177.10.

Losers at this time included Mahindra and Mahindra, down 1.52 percent at Rs.371.70; Bharti Airtel, down 1.07 percent at Rs.565; and Hindustan Unilever, down 0.17 percent at Rs.233.35.

In other Asian markets, Tokyo stocks were trading in the green a little before close Wednesday. Japan’s benchmark Nikkei 225 Stock Average was ruling 23.04 points higher than its previous close.

The Hang Seng, a key index of the Hong Kong Stock Exchange, was ruling 1.77 percent or 228.53 points above its last close, at 13,106.62 points.

US stocks rose Tuesday as the construction of new houses in the United States unexpectedly surged in February and investors speculated about Federal Reserve efforts to bolster the economy.

The blue-chip Dow Jones Industrial Average gained 178.73 points,or 2.5 percent, to 7,395.7.

The broader Standard and Poor’s 500 Index earned 24.23 points, or 3.2 percent, to 778.12, while the technology-heavy Nasdaq Composite Index picked up 58.09 points, or 4.1 percent, to 1,462.11.

Canadian markets continued their rally for the sixth consecutive day Tuesday, with rising oil pricing and financial shares boosting investor confidence.

On the world energy leader Toronto Stock Exchange, the composite index rose 172.89 points to close 8,559.6.

After six positive sessions, the market has regained 13 percent of its losses. In fact, financial shares have made record gains of over 28 percent during this period.

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