Sensex rises 149 points on positive European cues
September 6th, 2011 - 7:22 pm ICT by IANS
Mumbai, Sep 6 (IANS) A benchmark index for Indian equities markets closed 149 points higher in a volatile session Tuesday led by good buying support in energy and IT stocks on positive cues from European bourses.
The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened in the red at 16,663.73 points, closed at 16,862.81 points, up 0.89 points or 149.48 points from its previous close at 16,713.33 points.
The Sensex touched a high of 16,894.73 points and low of 16,488.30 points in the intra-day trade.
Indian markets opened weak and slipped deep into the red on negative cues from Asian markets. However, the markets rebounded in the afternoon after European markets opened in the positive.
The 50-scrip S&P; CNX Nifty of the National Stock Exchange closed 0.94 percent or 47.10 points higher at 5,064.30 points.
Broader markets as well as most sectoral indices also closed in the positive after a volatile session.
The BSE midcap index closed 0.59 percent higher at 6,394.39 points and the BSE small cap index ended 0.71 percent higher at 7,197.24 points.
There was good buying support in oil and gas and IT stocks.
Market heavyweight Reliance Industries Limited surged 4.05 percent at Rs.820.85. Among other gainers were: Mahindra and Mahindra, 3.31 percent higher at Rs.794.45; Jaiprakash Associates, up 2.79 percent higher at Rs.66.25; Jindal Steel, up 2.38 percent at Rs.547.75 and Sterlite Inds, up 2.21 percent at Rs.134.20.
Major Sensex losers were: DLF, down 4.43 percent at Rs.198.65; Sun Pharma, down 2.40 percent at Rs.491.45; Bharti Airtel, down 1.81 percent at Rs.398.55 and Bajaj Auto, down 1.49 percent at Rs.1,643.25.
Most Asian markets tumbled on continued concern over global economic growth. Japan’s Nikkei slumped 2.21 percent to close at 8,590.57 points, the lowest level in 28 months.
China’s Shanghai Composite index closed 0.33 percent down at 2,470.52 points, while Hong Kong’s Hang Seng index closed 0.48 percent higher at 19,710.50 points.
European stocks rebounded after two days of slump. Around noon, Britain’s FTSE 100 index was up 1.18 percent at 5,162.67 points. Germany’s DAX index was ruling 0.78 percent higher at 5,286.88 points and French CAC 40 index was 0.30 percent up at 3,008.43 points.
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