Sensex rallies 221 points; realty, banking stocks gain (Roundup)
May 27th, 2011 - 6:04 pm ICT by IANS
Mumbai, May 27 (IANS) A benchmark index for Indian equities markets Friday closed 221 points higher on the back of strong buying support in realty, banking, energy and metal stocks.
The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE) which opened at 18,105.61 points, closed at 18,266.1 points, up 1.23 percent or 221.46 points from its previous close at 18,044.64 points.
The index touched a high of 18,298.64 points and low of 18,087.16 points in the intra-day. The Sensex had gained 1.1 percent Thursday.
Reliance Communications surged 5.53 percent at Rs.84.90 ahead of its results. ICICI Bank soared 4.23 percent at Rs.1,068.80.
The 50-scrip S&P; CNX Nifty of the National Stock Exchange ended 1.18 percent higher at 5,476.1 points.
At the broader markets, the BSE midcap index closed 1.48 percent up and the smallcap index moved up 0.89 percent.
Almost all of the 13 sectoral indices closed in the red, while auto and consumer durables came under selling pressure.
Gainers on the 30-scrip Sensex included: Hindalco, up 5.78 percent at Rs.197.50; Reliance Communications, up 5.66 percent at Rs.85; ICICI Bank, up 4.23 percent at Rs.1,069; and DLF, up 4.11 percent at Rs.225.20.
Among the major losers were: Tata Motors, down 6.25 percent at Rs.1,088.65; HUL, down 1.27 percent at Rs.302.45; NTPC, down 1.03 percent at Rs.168.85 and Hero Honda, down 0.8 percent at Rs.1,858.
According to data available with the Securities and Exchange Board of India, foreign institutional investors bought scrips worth $269.95 million Friday.
Asian markets ended on a mixed note as traders remained concerned about China’s economy slowing down and rising inflationary pressures in many of the economies in the region.
The Nikkei of the Japanese stock exchange closed 0.42 percent down at 9,521.94 points, while Hong Kong’s Hang Seng ended 0.95 percent up at 23,118.07 points.
The Shanghai Composite index of the Chinese markets shed 0.97 percent to close at 2,709.95 points.
European markets were trading firmly higher with banking stocks leading the gainers. An uptrend in commodity prices also helped natural resources stocks to rise.
Britain’s FTSE was up 0.87 percent at 5,932.13 points.
Around midday, the French CAC 40 rose 0.91 percent at 3,953 points, while the German DAX was up 0.39 percent at 7,142 points.
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Tags: asian markets, benchmark index, bombay stock exchange, chinese markets, consumer durables, exchange board, foreign institutional investors, hero honda, inflationary pressures, japanese stock, metal stocks, national stock exchange, ntpc, points realty, sectoral indices, securities and exchange board of india, sensitive index, shanghai composite index, smallcap index, tata motors