Value-buying sends Sensex, broader indices soaring (Roundup)
By IANSFriday, February 11, 2011
MUMBAI - Benchmark indices for Indian equities markets Friday shot up smartly as traders bought stocks which were battered for a majority of the week.
The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,519.13 points, closed at 17,728.61 points, up 265.57 points or 1.52 percent from its previous close at 17,463.04 points.
It had slipped to 17,295.62 points around noon.
The 50-scrip S&P CNX Nifty of the National Stock Exchange closed 1.67 percent higher at 5,313.05 points.
Broader markets also shot up, with the BSE midcap index ending 2.92 percent higher and the BSE small cap index closing 2.94 percent up.
Some IT and telecom stocks ended among the losers, while banking, auto and consumer durable stocks closed in gains.
The market breadth was positive, with 1,753 stocks advancing compared to 995 scrips on the decline. A total of 200 stocks remained unchanged.
Among gainers on the 30-scrip Sensex were: Jaiprakash Associates, up 8.34 percent at Rs.82.50; L&T, up 5.7 percent at Rs.1,165.80; Reliance Infra, up 4.4 percent at Rs.6110; and ICICI Bank, up 4.21 percent at Rs.1,001.95.
Major losers included Tata Power, down 2.67 percent at Rs.1,183.50; Hindalco, down 2.08 percent at Rs.211.60; Tata Steel, down 1.43 percent at Rs.591.25; and Hindustan Unilever, down 1.36 percent at Rs.268.
According to data available with market regulator SEBI, foreign institutional investors sold scrips worth $185.49 million Friday.
Other Asian markets ended on a cautious note as all eyes were fixed on the political turmoil in Egypt after President Hosni Mubarak refused to quit despite continued mass protests.
Hong Kong’s Hang Seng closed 0.53 percent up at 22,828.92 points, while a benchmark of Chinese markets, Shanghai Composite index, nudged up 0.33 percent at 2,815.61 points.
The Japanese markets were closed.
European markets were trading weak as Egypt’s political turmoil and the Euro zone debt crisis weighed on bourses in the region.
Around mid-day, the French CAC 40 was trading 1.15 percent down at 4,047.90 points, while the UK’s FTSE was ruling 0.55 percent lower at 5,986.98 points.
The German DAX was ruling 0.61 percent down at 7,295.42 points.
