Sensex rises 427 points, highest since Jan 2008 (Roundup)

November 4th, 2010 - 7:30 pm ICT by IANS  

Sensex Mumbai, Nov 4 (IANS) Indian equities rose on the eve of the festival of lights Thursday, backed by positive global cues, foreign inflows and a stellar listing of Coal India.

The benchmark index of the Bombay Stock Exchange (BSE)climbed 427 points to close at an all-time high of 20893.57 points as against its earlier closing high of 20873.33 that it hit on January 8, 2008.

The BSE’s 30-share sensitive index (Sensex), which opened at 20,605.63 points, closed at 20,893.57 points, up 427.83 points or 2.09 percent from its previous close at 20,465.74 points.

At this level, the Sensex is creeping closer to the 21,000 points-mark, its all-time intra-day high logged in Jan 10, 2008.

At the National Stock Exchange (NSE), the 50-share S&P CNX Nifty ended at 6,281.8 points, up 1.97 percent.

Broader markets indices were in the green too, with the BSE midcap index trading 0.83 percent higher and the BSE smallcap index moving up 0.66 percent.

Energy, metals, banking and auto stocks led the gainers pack. Consumer durable stocks, however, ended lower, facing some selling pressure.

Top Sensex gainers were SBI, up 4.98 percent at Rs.3,434.90; Tata Motors, up 4.03 percent at Rs.1,233.10; RIL, up 3.71 percent at Rs.1,104.75, and Hindalco Industries, up 3.66 percent at Rs.226.30.

The only two losers were Hero Honda, down 1.32 percent at Rs.1,840.45 and Bharti Airtel, down 0.55 percent at Rs.326.40.

The market breadth was positive, with 1,545 stocks advancing, 1,393 declining and 139 remaining unchanged.

According to data available with the Securities and Exchange Board of India (SEBI), foreign institutional investors bought scrips worth $292.42 million Thursday.

Other Asian markets rose after the US Federal Reserve announced a stimulus plan, injecting $600 billion into the world’s largest economy to boost sluggish growth.

The Shanghai Composite index shut shop at 3,086.94 points, up 1.85 percent.

Hong Kong’s Hang Seng closed 1.62 percent higher at 24,535.63 points. The Japanese markets ended 2.17 percent higher at 9,358.78 points.

European bourses were trading in the green as traders reacted favourably to the stimulus announced by the US Central Bank.

Around mid-day, Britain’s FTSE 100 was trading 1.7 percent at 5,846.48 points.

The German DAX was up 1.48 percent at 6,715.78 points, while the French CAC 40 was 1.77 percent higher at 3,910.93 points.

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