Sensex climbs 171 points on positive global cues
By IANSTuesday, December 21, 2010
MUMBAI - A benchmark index of Indian equities closed 171 points higher Tuesday on renewed buying support in banking and realty stocks, taking cues from the rally in global markets.
The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened in the positive at 19,925.76 points, ended at 20,060.32 points, up 0.86 percent or 171.44 points.
The Sensex touched a high of 20,090.84 points and low of 19,925.76 points in intra-day trading.
At the National Stock Exchange (NSE), the 50-share S&P CNX Nifty flirted with the psychologically important 6,000 points mark. The Nifty settled at 6,000.65 points, up 0.90 percent or 53.60 points.
Most sectoral indices also closed in the positive, with the BSE Bankex rising 2.34 percent and the BSE Metal index surging nearly three percent.
The BSE Midcap index closed 0.79 percent higher and the BSE Smallcap moved up nearly one percent.
There was strong buying support in metal and banking stocks. Sterlite Inds surged nearly five percent. Hindalco Inds, up 4.45 percent at Rs.233.55; ICICI Bank, up 3.56 percent higher at Rs.1,138.55; DLF, up 1.97 percent at Rs.284.90 and SBI, up 1.48 percent at Rs.2,743.60 were among the major gainers at the Sensex.
Hero Honda retreated 0.77 percent to Rs.1,966 after surging nearly 18 percent Monday.
Bharti Airtel, down 0.67 percent at Rs.332.85; Infosys, down 0.65 percent at Rs.3,329.25; NTPC, down 0.60 percent at Rs.191.75 and TCS, down 0.59 percent at Rs.1,159.40 were among the major losers at the Sensex.
Markets across the world rallied on the easing European debt crisis.
The Shanghai Composite Index advanced 1.79 percent to 2,904.11 points and Hong Kong’s Hang Seng closed 1.57 percent up at 22,993.90 points.
The Japanese Nikkei settled 1.51 percent higher at 10,370.50 points.
All European markets were also in the positive. Around mid-day, Britain’s FTSE 100 was ruling 0.73 percent higher at 5,934.46 points, and the German DAX 0.55 percent up at 7,056.87 points.
The French CAC 40 was ruling 0.56 percent higher at 3,910.11 points.
