Sensex closes 308 points up, still in losses for the week (Roundup)May 6th, 2011 - 6:38 pm ICT by IANS
Mumbai, May 6 (IANS) A benchmark index for Indian equities markets Friday slipped from its intra-day highs to close 308 points up. Broader indices too managed moderate gains.
The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE) which opened at 18,289.78 points, closed at 18,518.81 points, up 308.23 points or 1.69 percent from its previous close at 18,210.58 points.
It rose more than 357 points to a touch at an intra-day high of 18,568.48 points.
But for the week, the Sensex still closed 3.23 percent lower, having been battered over majority of the past two weeks.
The 50-scrip S&P; CNX Nifty of the National Stock Exchange closed higher too at 5,551.45 points, up 1.68 percent.
Broader markets too moved up, with the BSE midcap index ending 0.93 percent up and the BSE small cap index up 0.67 percent.
Banking stocks, which were battered after the Reserve Bank of India hiked key interest rates and the rate of interest on savings bank accounts, were among the top gainers Friday. Auto and capital goods stocks too rose.
All 13 sectoral indices on the BSE closed in the green.
The market breadth was positive with 1,630 stocks advancing, 1,167 on the decline and 132 remaining unchanged.
Among gainers on the Sensex were: Tata Motors, up 5.65 percent at Rs.1,200.95; ICICI Bank, up 5.16 percent at Rs.1,081.35; Hero Honda, up 3.93 percent at Rs.1,764.65 and HDFC Bank, up 3.55 percent at Rs.2,299.15.
Top losers included Bharti Airtel, down 1.92 percent at Rs.350.75; Reliance Infra, down 1.6 percent at Rs.606.75 and Sterlite Industries, down 1.47 percent at Rs.167.60.
Asian markets closed weak as investors dumped commodity stocks, following a slump in prices of metals and amid concerns that the recovery in the US may not be as robust as it seemed.
The Japanese stock exchange closed 1.45 percent lower at 9,859.2 points.
The Chinese Shanghai composite index was ruling 0.3 percent lower at 2,863.89 points, while Hong Kong’s Hang Seng was ruling 0.44 percent lower at 23,159.14 points.
European markets were trading mixed after the European central bank held on to benchmark interest rate and hinted that it would wait till July before it takes a call on hiking interest rates. Investors also awaited release of key US employment data.
Britain’s FTSE was down 0.28 percent at 5,903.18 points.
Around midday, the French CAC 40 was trading 0.36 percent higher at 4,019.38 points, while the German DAX was ruling 0.54 percent up at 7,417.12 points.
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Tags: bank of india, benchmark index, bombay stock exchange, cap index, commodity stocks, hdfc, hero honda, japanese stock, market breadth, moderate gains, national stock exchange, prices of metals, reserve bank of india, sectoral indices, sensitive index, shanghai composite index, sterlite industries, tata motors, top gainers, top losers