Sensex 205 points up, uptrend credited to budget (Roundup)
By IANSThursday, February 17, 2011
MUMBAI - A benchmark index for Indian equities markets Thursday closed 205 points higher as buying picked up in the later half of the day.
The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 18,345.12 points, closed at 18,506.82 points, up 205.92 points or 1.13 percent from its previous close at 18,300.9 points.
Analysts attributed the fifth straight rise in the Sensex and overall increased buying to the annual budget to be presented February-end.
The 50-scrip S&P CNX Nifty of the National Stock Exchange moved 1.18 percent higher to end at 5,546.45 points.
Broader markets also shot up, with the BSE midcap index closing 0.91 percent higher and the BSE smallcap index ending 0.94 percent up.
Capital goods, banking and auto stocks were leading the pack. Realty scrips ended lower.
The market breadth was positive, with 1,681 stocks advancing compared to 1,126 on the decline. A total of 179 stocks remained unchanged.
Among gainers on the 30-scrip Sensex were: HDFC Bank, up 4.15 percent at Rs.2,183.80; HDFC, up 3.15 percent at Rs.649.35; Bharti Airtel, up 3.14 percent at Rs.338.45, and L&T, up 2.69 percent at Rs.1,693.80.
Losers on the benchmark index included Wipro, down 1.34 percent at Rs.431.30; ONGC, down 0.61 percent at Rs.277.70; Jindal Steel, down 0.57 percent at Rs.666.50, and Hindustan Unilever, down 0.56 percent at Rs.273.80.
According to data available with market regulator SEBI, foreign institutional investors bought scrips worth $38.7 million Thursday.
Asian markets rose modestly for the second consecutive day offered after the US Federal Reserve took a cautious but optimistic view of the world’s largest economy.
Hong Kong’s Hang Seng ended 0.63 percent higher at 23,301.84 points, while a benchmark of Chinese markets, Shanghai Composite index, gained 0.1 percent to close at 2,926.96 points.
The Japanese Nikkei rose 0.26 percent to close at 10,836.64 points.
European markets were trading flat as investors absorbed a slew of earnings results and waited for release of key economic data in the US.
Around mid-day, the French CAC 40 was trading 0.09 percent down at 4,147.42 points, while the UK’s FTSE was ruling similarly subdued, up 0.01 percent 6,086.03 points.
The German DAX was ruling 0.06 percent down at 7,410.06 points.
