Sensex closes on a 30-month high (Roundup)

July 22nd, 2010 - 6:54 pm ICT by IANS  

Sensex Mumbai, July 22 (IANS) A benchmark index for Indian equities Thursday closed at its highest level since February 2008, helped by a late surge in buying following a rebound in European markets.
The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,978.37 points, shut shop at 18,113.15 points, 135.92 points or 0.76 percent up from its previous close at 17,977.23 points.

At the National Stock Exchange (NSE), the broader 50-share S&P CNX Nifty closed at 5,441.95 points, up 0.79 percent from its previous close at 5,399.35 points.

Broader markets indices also ended in the green, with the BSE midcap index 0.41 percent up and the BSE smallcap index closing 0.27 percent higher.

The market breadth was positive, with 1,546 scrips advancing, compared to 1,362 stocks declining, and 106 remaining unchanged.

Consumer durables, metals, auto and FMCG stocks gained, while IT scrips saw some selling.

Among the gainers on the Sensex were M&M, up 2.5 percent at Rs.632.30; Bharti Airtel, up 2.39 percent at Rs.302.05; Jaiprakash Associates, up 1.95 percent at Rs.130.85; and Tata Steel, up 1.94 percent at Rs.540.25.

There were only five losers on the 30-scrip index: ACC, down 1.06 percent at Rs.816; Reliance Infra, down 0.79 percent at Rs.1,130.55; Maruti Suzuki, down 0.74 percent at Rs.1,353.75; and Tata Power, down 0.42 percent at Rs.1,329.65; Infosys, down 0.28 percent at Rs.2,757.80.

Other major Asian markets were in the negative with traders choosing to book profits after US Federal Reserve Chairman Ben Bernanke commented that the economic outlook was “unusually uncertain”.

The Japanese Nikkei shut shop in the red at 9,220.88 points, down 0.62 percent.

Hong Kong’s Hang Seng closed 0.5 percent higher at 20,589.7 points, while the South Korean Kospi ended with a 0.76 percent loss at 1,735.53 points.

The Chinese Shanghai Composite index was up 1.07 percent at 2,562.41 points.

Optimistic investors pushed up banking stocks lifting sentiments in European markets in anticipation of positive results from the banking “stress test” due Friday.

The FTSE was trading 1.01 percent higher at 5,267.26 points, while the French CAC 40 was ruling 1.72 percent up at 3,554.06 points.

The German DAX was ruling 1.57 percent higher at 6,084.54 points.

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