Markets end with hefty gains as crude gets cheaper

September 2nd, 2008 - 7:27 pm ICT by IANS  

Mumbai, Sep 2 (IANS) Indian equity markets closed with a hefty gain piggy-backing the fall in crude oil prices to $107 per barrel. Rate sensitive sectors such as banking, realty and auto stocks were in demand.Following strong global cues, the market started on an upswing and continued to rise steadily till afternoon trade and made maximum gains in the last hour.

The 30-share benchmark of the Bombay Stock Exchange (BSE) sensitive index (Sensex), which opened at 14,609.44 points, touched a high of 15,106.15 points before closing at 15,049.86 points. It went up 551.35 points or 3.80 percent at the day’s close.

The National Stock Exchange (NSE) S&P Nifty, which opened at 4,358.85 points, closed at 4,504 points. It went up 155.35 points or 3.57 percent.

The BSE Midcap index, which closed at 5,837.01 points, went up 95.03 points or 1.66 percent.

The BSE Smallcap index, which closed at 6,982.39 points, went up 91 points or 1.32 percent.

The market breadth was positive on the BSE, with 1,675 shares advancing, 986 declining and 72 maintaining status quo.

Top gainers of the day included State Bank of India, which at Rs.1,416 was up 7.44 percent, ICICI Bank at Rs.664.55 rose 7.34 percent, and DLF Ltd at Rs.494.55 increased 7.14 percent.

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