Sensex closes above 17,000-mark, ends 272 points up

August 10th, 2011 - 6:35 pm ICT by IANS  

Sensex Mumbai, Aug 10 (IANS) A benchmark index for Indian equities markets Wednesday closed 272 points higher and above the 17,000-mark as traders bought into stocks battered in the recent sell-off.

The 30-scrip sensitive index (Sensex) of the BSE, closed at 17,130.51 points, up 272.6 points or 1.62 percent compared to its previous close at 16,857.91 points.

It had moved up to 17,256.46 points in early trade.

The markets had been in a firm bear grip in the past two trading sessions over the US sovereign debt rating downgrade and fears of a double dip recession in the largest economy of the world.

The 50-scrip S&P; CNX Nifty of the National Stock Exchange too ended in the green at 5,161 points, up 1.74 percent.

Broader markets too rose. The BSE midcap index closed 2.39 percent up and the BSE smallcap index ended 2.4 percent higher.

The market breadth at the BSE was positive with 2,205 stocks moving up, compared to 696 on the decline and 84 remaining unchanged.

According to data available with the Securities and Exchange Board of India, foreign institutional investors sold stocks worth a huge $434.03 million Wednesday.

Among main gainers on the Sensex were: Tata Motors, up 6.08 percent at Rs.843.90; Maruti Suzuki, up 5.95 percent at Rs.1,279.70; Hindalco, up 5.24 percent at Rs.155.55 and M&M;, up 5.03 percent at Rs.729.55.

Main losers included: ONGC, down 2.22 percent at Rs.279.85; ITC, down 1.15 percent at Rs.197.40; Hindustan Unilever, down 0.95 percent at Rs.316.40 and Sun Pharma, down 0.68 percent at Rs.481.20.

Other major Asian markets too were on the rise, after being battered in the last two sessions over the US sovereign debt downgrade.

The benchmark Japanese Nikkei closed 1.05 percent higher at 9,038.74 points, while the Chinese Shanghai Composite index ended 0.91 percent up at 2,549.18 points.

Hong Kong’s Hang Seng rose 2.34 percent to end at 19,783.67 points.

European markets too were trading with moderate gains.

The FTSE 100 of UK was ruling 1 percent higher at 5,216.81 points, while the German DAX was up 2.03 percent at 6,037.1 points.

The French CAC 40 was up 0.54 percent at 3,193.42 points.

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