Sensex zooms 350 points up as IT, auto stocks shine (Roundup)
April 20th, 2011 - 8:32 pm ICT by IANS
Mumbai, April 20 (IANS) Led by IT and auto stocks and active participation from foreign funds, a benchmark index for Indian equities markets zoomed almost 350 points up Wednesday.
The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 19,274.21 points, closed at 19,477.58 points, up 349.15 points or 1.83 percent from its previous close at 19,121.83 points.
The 50-scrip S&P; CNX Nifty of the National Stock Exchange shut shop 1.93 percent higher at 5,851.65 points.
According to data available with market regulator SEBI, foreign institutional investors were net buyers, lapping up stocks worth $461.97 million.
Broader markets ended in the green as well with the BSE midcap index closing 1.18 percent up and the BSE small cap index up 1.29 percent.
Auto, IT and metal stocks were the best performing sectors. All 13 sectoral indices on the BSE closed in the green.
IT stocks rose after HCL Technologies reported a 26.37 percent rise in profit at Rs.331.8 crore for the quarter ended March 31.
Among major gainers on the Sensex were M&M;, up 5.05 percent at Rs.763; TCS, up 4.63 percent at Rs.1,218.80; Hindalco, up 4.16 percent at Rs.214; and Tata Motors, up 3.99 percent at Rs.1,251.35.
There were only three losers on the 30 scrip Sensex: Reliance Communications, down 1.99 percent at Rs.105.65; Hero Honda, down 1.87 percent at Rs.1,743.95; and L&T;, down 0.04 percent at Rs.1,706.10.
The market breadth was positive with 1,962 stocks advancing, 951 on the decline and 93 remaining unchanged.
Asian markets were trading in the positive, tracking overnight gains at the Wall Street.
The Japanese Nikkei average closed 1.76 percent up at 9,606.82 points, while the Shanghai composite index of the Chinese stock exchanges moved up 0.27 percent at 3,007.04 points.
The Hang Seng of the Hong Kong stock exchange was in the green too, ending 1.6 percent higher at 23,896.1 points.
The European stock too rose boosted by gains in auto and technology scrips as worries about sovereign debt problems of Euro zone economies eased after a successful government bond auction by Spain.
Around midday, the French CAC 40 was trading 2.41 percent higher at 4,002.87 points, while Britain’s FTSE was ruling 2.26 percent up at 6,030.23 points.
The German DAX was ruling 2.81 percent up at 7,237.33 points.
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- Sensex holds on to gains, but slips from 18,000 - Feb 29, 2012
- Sensex rises above 18,400 points; oil, auto stocks surge - Jun 27, 2011
- Sensex rises 100 points; auto, IT stocks rally - May 29, 2012
- Sensex soars past 18,000, closes 335 points up (Second Lead) - Feb 15, 2012
- Sensex extends gains, up 320 points (Lead) - Feb 15, 2012
- Sensex falls below 17,000 points (Lead) - May 04, 2012
- Sensex down 89.56 points in noon trade - May 14, 2012
- Sensex off day's highs, holding in green - Mar 20, 2012
- Sensex pares Monday losses, closes 288 points up (Lead) - Feb 28, 2012
- Sensex closes 355 points higher (Third Lead) - Apr 20, 2011
- Sensex rallies in last hour, closes 160 points higher (Lead) - Feb 09, 2012
- Sensex rises 1.11 percent; ONGC, Hero Honda soar (Lead) - May 26, 2011
- Sensex falls 58 points; IT, metal stocks slump - Apr 10, 2012
Tags: auto stocks, bombay stock exchange, chinese stock, european stock, foreign institutional investors, hcl technologies, hero honda, hindalco, hong kong stock, hong kong stock exchange, kong stock exchange, market breadth, market regulator, metal stocks, national stock exchange, nikkei average, sectoral indices, sensitive index, shanghai composite index, tata motors