Mkts on fire: Sensex closes above 10k

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posted on 18 years ago — updated on 1 second ago

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Stocks failed to maintain the initial higher levels due to selling by FIIs and profit booking by retail investors.

New Delhi: The markets closed in the positive terrain on the last of the week due to sustained buying seen in index pivotals. The Sensex closed with the gain of nearly 1.34 per cent or 143 points at 10809 and the Nifty was up more than 1 per cent at 3209.

The BSE SmallCap rose by 2.6 per cent & the BSE Midacp was up over 2.47 per cent.

All the BSE sectoral indices closed in green.

The BSE Metal index advanced 3.54 per cent to close at 8,919.78. Stocks like Guj NRE Coke, JSW Steel, SAIL, Jindal Stainless, Hind Zinc and Tata Steel gained.

Stocks likes Titan Industries, Su-Raj Diamonds, Whirlpool, Blue Star and Samtel Color surged.The consumer durables index closed at 3,076.85 up 2.97 per cent.

The capital goods index rose 2.3 per cent to close at 7,535.89. Stocks like Alstom Projects, Lakshmi Machine, SKF India, Bharat Electronics and Siemens witnessed buying interest.

The FMCG index rose 1.91 per cent and close at 2,027.58. Stocks like Dabur India, Tata Tea, Britannia, Nirma and HLL moved up.

The health care index was up 1.74 per cent at 3,502.68. Stocks like Aurobindo Pharma, Cipla, Divis Labs, Lupin, Orchid Chemical and Wockhardt soared.

The bankex was up 1.6 per cent at 4,990.92. Stocks like Allahabad Bank, Bank of Baroda, IOB, Canara Bank, Andhra and Kotak Mahindra minted money.

The auto index gained 1.56 per cent to close at 4,967.36. Stocks like TVS Motor, MRF, Hind Motors, Bajaj Auto, Escorts and Hero Honda advanced.

The oil & gas sector was up 1.14 per cent to close at 5,223.29.Stocks like GAIL, Kochi Refinery, MRPL, HPCL and IOC zoomed.

The IT index rose 1.5 per cent to close at 3,694.72. Stocks like Patni Computer, I-Flex Solution, Infosys and HCL Tech rallied.

The NSE cash turnover stood at Rs 7145.92 crore and the NSE F&O turnover was Rs 23408.32 crore. The BSE cash turnover stood at Rs 3158.35 crore. The total market turnover was at Rs 33712.59 crore Versus Rs 56867.82 crore yesterday.

Gary Coull, Chairman of CLSA, Asia Pacific markets believes that Asian markets corrected due to higher risk component. Coull further said that the company was looking to invest reasonable amount of new money into India.

Fundamental Analyst Nirav Seth of Brics Securities says that even if the market gives away 5 per cent, not all stocks will fall. He says that it is a good time to pick up media stocks and he is bullish on Reliance.