Sensex closes 286 points higher amid positive global cues (Roundup)

July 22nd, 2011 - 7:36 pm ICT by IANS  

Sensex Mumbai, July 22 (IANS) A benchmark index for Indian equities Friday closed 286 points higher than its previous close amid positive global cues. Broader markets too were on the rise.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE) opened at 18,565.04 points and closed at 18,722.3, up 286.11 points or 1.55 percent from its previous close at 18,436.19 points.

The 50-scrip S&P; CNX Nifty of the National Stock Exchange also closed higher at 5,633.95 points, up 1.67 percent.

Broader markets too ended in the green. The BSE midcap index closed 1.25 percent up and the BSE smallcap index ended 0.82 percent up.

The market breadth at the BSE was positive with 1,715 stocks advancing, 1,188 on the decline and 124 remaining unchanged.

Banking, telecom and auto stocks were among the major gainers. Consumer durables scrips saw some selling.

There were only four gainers on the 30-scrip Sensex: Bharti Airtel, up 3.99 percent at Rs.410.95; Reliance Communications, up 3.43 percent at Rs.93.55; M&M;, up 2.98 percent at Rs.722.90 and ICICI Bank, up 2.61 percent at Rs.1,068.30.

There were only three losers on the benchmark: DLF, down 0.43 percent at Rs.240.60; Hindalco, down 0.28 percent at Rs.176.80 and Jindal Steel, down 0.07 percent at Rs.627.30.

According to data available with the Securities and Exchange Board of India (SEBI), foreign institutional investors sold stocks worth $38.69 million Friday.

Asian markets were mostly in the green as traders cheered the news of Greece finally getting a new bailout package from the European Union and the International Monetary Fund.

The likelihood of US President Barack Obama striking a deal with the Republicans to lift the country’s debt ceiling also enthused global markets.

The Japanese Nikkei Thursday closed 1.22 percent higher at 10,132.11 points.

The Hang Seng of the Hong Kong stock exchange closed 2.08 percent up at 22,444.8 points, while the Chinese Shanghai composite index ended with modest gains at 2,770.79 points, up 0.16 percent.

Among European bourses, Britain’s FTSE 100 was ruling 0.66 percent up at 5,938.65 points, and the French CAC 40 was ruling 0.7 percent higher at 3,843.51 points.

The German DAX was up 0.42 percent at 7,320.97 points.

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