Sensex soars 465 points, IT stocks help with late surge (Roundup)

March 25th, 2011 - 8:02 pm ICT by IANS  

Sensex Mumbai, March 25 (IANS) Helped by surging IT stocks in the later half of the day, a benchmark index for Indian equities Friday closed 465 points higher than its previous close. Stable Asian cues had helped support buying interest in the earlier part of the day.

The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 18,480.69 points, closed at 18,815.84 points, up 464.9 points or 2.53 percent from its previous close at 18,350.74 points.

At the National Stock Exchange (NSE), the broader 50-share S&P; CNX Nifty shut shop 2.39 percent higher at 5,654.25 points.

Broader markets also ended in gains with the BSE midcap index closing 1 percent up, while the BSE smallcap moved up a similar quantum.

For the week, both the Sensex and Nifty have posted handsome gains. The Sensex closed with a 5.24 percent gain compared to its previous weekly close, while the Nifty rose 5.22 percent for the week.

Most of the sectors saw buying support. All 13 sectoral indices on the BSE were in the green. IT, telecom, realty and banking stocks were among the top gainers.

The market breadth was positive, with 1,727 stocks advancing compared to 1,199 scrips on the decline. A total of 114 stocks remained unchanged.

All the stocks on the 30-scrip Sensex ended on the gainers list. Some of the leading stocks included: DLF, up 6.17 percent at Rs.248.60; Infosys, up 5.23 percent at Rs.3,162; NTPC, up 3.82 percent at Rs.182.25; and Wipro, up 3.68 percent at Rs.455.85.

Most Asian markets closed in the green tracking overnight gains at Wall Street. Stocks in the US had risen following release of positive employment data and higher corporate earnings.

The Japanese Nikkei average closed 1.07 percent higher at 9,536.13 points.

Hong Kong’s Hang Seng advanced 1.06 percent to end at 23,158.67 points, while China’s Shanghai Composite ended a similar 1.06 percent higher at 2,977.81 points.

European stocks were trading mixed around mid-day.

Around mid-day, the French CAC 40 was trading 0.06 percent up at 3,971.17 points, while Britain’s FTSE was ruling 0.11 percent up at 5,887.44 points.

The German DAX was ruling 0.08 percent down at 6,927.82 points.

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