Sensex rebounds 217 points on positive political cues (Lead)

March 8th, 2011 - 6:01 pm ICT by IANS  

Sensex Mumbai, March 8 (IANS) A benchmark index for Indian equities markets rebounded 217 points Tuesday after signs of a rapprochement in sight between the DMK, a key ally of the United Progressive Alliance (UPA) government, and its principal constituent, the Congress.

The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened in the positive at 18,277.34 points, ended the day at 18,439.65 points, up 1.19 percent or 216.98 points from the previous close of 18,222.67 points.

The Sensex touched a high of 18,466.81 points and low of 18,266.62 points in the intraday. The index had lost 264 points Monday.

At the National Stock Exchange (NSE), the broader 50-share S&P; CNX Nifty closed 1.06 percent or 57.65 points higher at 5,520.80 points.

All the broader market indices also closed in the positive territory, with the BSE midcap gaining almost one percent and the BSE smallcap ending 0.76 percent higher at 7,944.85 points.

There was good buying support in technology, auto and metal scrips.

Major gainers on the Sensex were: Bharti Airtel, up 3.16 percent at Rs.334.20; Tata Motors, up 2.91 percent at Rs.1,160.05; ONGC, up 2.90 percent at Rs.271.55; Infosys, up 2.53 percent at Rs.3,114.65; and Jaiprakash Associates, up 2.37 percent at Rs.84.25.

Four out of the 30 scrips that constitute the Sensex closed in the red. Hero Honda, down 0.77 percent at Rs.1,518.15; Maruti Suzuki, down 0.65 percent at Rs.1,256.50; ITC, down 0.35 percent at Rs.171.95; and Tata Power, down 0.04 percent at Rs.1,229.85 were the losers on the Sensex.

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