Sensex ends losing streak with 250-point surge (Roundup)May 28th, 2008 - 6:31 pm ICT by admin
Mumbai, May 28 (IANS) The Indian equities market ended a four-day losing streak Wednesday, with the Sensex surging almost 250 points. The rally was led by banking, telecom and metal stocks. The market started on a firm note, slipped into negative zone early afternoon but made a strong comeback before close.
The 30-share benchmark index of the Bombay Stock Exchange (BSE), the Sensex, opened at 16,358.62 points and touched a high of 16,563.30 before closing at 16,525.37. It went up by 249.78 points at the day’s close or 1.53 percent, compared to its closing figure Tuesday.
The S&P Nifty index of the National Stock Exchange, which opened at 4,862.70 points, closed at 4,918.35 points. It went up by 58.55 points or 1.20 percent from its previous close.
The BSE Midcap index, which closed at 6,753.53 points, went up by 74.62 points or 1.12 percent.
The BSE Smallcap index, which closed at 8,237.09 points, went up by 27.01 points or 0.33 percent.
However, the market breadth was negative. On BSE, 1,312 shares advanced, 1,358 declined and 86 maintained status quo.
The top gainers of the day included Ambuja Cements at Rs.104.10 up 6.66 percent; ITC at Rs.222.05 up 6.19 percent; and Hindalco at Rs.196.55 up 5.96 percent.
The top losers of the day included BHEL at Rs.1,612.15 down 2.78 percent; Larsen and Toubro at Rs.2,709.10 down 1.25 percent; and ONGC at Rs.874.50 down 1.11 percent.