Sensex closes 285 points higher despite dull global cues (Roundup)March 21st, 2012 - 7:49 pm ICT by IANS
Mumbai, March 21 (IANS) Helped by robust buying in capital goods and realty stocks, a benchmark index for Indian equities markets zoomed in the second half of trade Wednesday, closing 285 points higher. The gain was remarkable as global bourses were dull.
The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,301.16 points, closed at 17,601.71 points, up 285.53 points or 1.65 percent compared to its previous close at 17,316.18 points.
The 50-scrip S&P; CNX Nifty of the National Stock Exchange also closed higher at 5,364.95 points, up 90.1 points or 1.71 percent from its previous close.
Broader markets were in the green too with the BSE 500 index ending 1.76 percent up. The BSE midcap was up 1.95 percent, while the BSE smallcap index closed 1.23 percent higher.
The market breadth was positive with 1,758 stocks advancing, 1,136 on the decline and 130 remaining unchanged.
According to data available with the Securities and Exchange Board of India (SEBI), foreign institutional investors bought stocks worth $38.92 million Wednesday.
“The strength in today’s markets has come as a surprise as the global cues were not very strong,” said Dipen Shah of Kotak Securities.
“With the Eurozone crisis largely under control, the key external factor for indian equities is the crude price movement,” added Shah. “Oil prices cooled off a bit after Saudi Arabia promised to meet shortfalls in global oil supplies.”
Gainers on the Sensex included L&T;, up 4.46 percent at Rs.1,348; TCS, up 3.25 percent at Rs.1,171.85; ICICI Bank, up 3.07 percent at Rs.935.40 and SBI, up 2.26 percent at Rs.2,233.55.
Major losers included Hindalco, down 1.01 percent at Rs.137.25; ONGC, down 0.35 percent at Rs.271.30; ITC, down 0.18 percent at Rs.222.90 and Sun Pharma, down 0.17 percent at Rs.568.15.
Asian markets closed in the red as concerns over a slowdown in China’s economy weighed heavy on investors.
The Japanese Nikkei index closed 0.55 percent lower at 10,086.49 points.
Hong Kong’s index edged 0.15 percent down at 20,856.63 points, while the Chinese Shanghai Composite index was flat at 2,378.2 points.
European markets were trading flat.
Britain’s FTSE 100 was up 0.12 percent at 5,898.35 points, while the German DAX was trading 0.22 percent up at 7,070.74 points.
The French CAC 40 was ruling 0.11 percent up at 3,534.74 points.
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Tags: asian markets, benchmark index, bombay stock exchange, capital goods, crude price, exchange board, foreign institutional investors, global bourses, global oil, kotak securities, market breadth, midcap, national stock exchange, oil supplies, ongc, realty stocks, securities and exchange board of india, sensitive index, smallcap index, sun pharma