Sensex surges near 450 points by early afternoon

April 7th, 2008 - 3:19 pm ICT by admin  

(Second Lead)

Mumbai April 7 (IANS) The Indian equities market surged in early afternoon trade Monday, taking the benchmark index of the Bombay Stock Exchange on a surge of nearly 450 points. Technology, telecom, fast moving consumer goods (FMCG), banking, oil, realty and pharmaceuticals stocks generated buyers’ interest.

At 1.00 p.m., the Sensex was up 446.88 points or 2.91 percent at 15,790.00, compared to Friday’s close.

At the same time, the S&P CNX Nifty of the National Stock Exchange was up by 133 points or 2.85 percent to 4,779.60.

However, the market breath was still negative. About 988 shares advanced, 1,549 declined, and 534 remained unchanged.

Wipro, Ranbaxy Labs, Satyam and Tata Communication were among the top gainers on the bourses while Maruti, Ambuja Cements, Reliance Energy and ABB were among the top losers.

Other Asian markets also made smart gains Monday.

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