Thaindian News

Mumbai, Feb 21 (IANS) A benchmark index for Indian equities markets Monday shot up in late trade led by Reliance Industries as news of its $7.2 billion deal with global energy major BP came in. After the markets closed, Mukesh Ambani-led Reliance Industries (RIL) said that London-based global energy major BP was buying a 30-percent stake in 23 of its oil and gas blocks for a whopping $7.2 billion.

Broader markets pared their losses to close flat as the uptrend, thanks to gaining IT and telecom stocks.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 18,238.54 points, closed at 18,438.31 points, up 226.79 points or 1.25 percent from its previous close at 18,211.52 points.

The 50-scrip S&P CNX Nifty of the National Stock Exchange shut shop 1.09 percent higher at 5,518.6 points.

Broader markets closed flat, having risen sharply in late trade to wipe out intra-day losses.

Of the 13 sectoral indices on the BSE, 12 closed in gains. Only auto stocks ended among the losses.

The market breadth was slightly negative, with 1,395 stocks advancing compared to 1,465 scrips on the decline. A total of 112 stocks remained unchanged.

Among the gainers on the 30-scrip Sensex were: TCS, up 4.24 percent at Rs.1,136.65; Wipro, up 4.12 percent at Rs.450.25; Sterlite Inustries, up 3.31 percent at Rs.165.60 and ONGC, up 2.98 percent at Rs.276.25.

Losers on the benchmark index included Tata Motors, down 3.33 percent at Rs.1,161.95; Hero Honda, down 1.66 percent at Rs.1,439.35; Maruti Suzuki, down 1.31 percent at Rs.1,212.65 and NTPC, down 1.04 percent at Rs.176.65.

According to data available with market regulator SEBI, foreign institutional investors bought scrips worth $54.12 million Monday.

Asian markets were mixed, with traders wary of taking up new positions in the wake of prevailing tensions in the Middle East.

Hong Kong’s Hang Seng was ruling 0.47 percent down at 23,485.42 points, while the Japanese Nikkei rose a modest 0.14 percent to close at 10,857.53 points.

Chinese markets, however bucked the trend with a benchmark index, the Shanghai Composite index, rising 1.12 percent to close at 2,932.25 points.

Tensions in the Middle East and the resultant insecurity in the Asian markets rubbed off on the European bourses as well. Investors chose to book profits and not take up new positions.

Around mid-day, the French CAC 40 was trading 0.73 percent down at 4,126.61 points, while Britain’s FTSE was ruling 0.25 percent lower at 6,068.03 points.

The German DAX was ruling 0.69 percent down at 7,375.33 points.