Sensex up by over 232 points

Mumbai: Strong US economic data last Friday amid lack of any major trigger today from overseas markets helped the benchmark sensex to bounce back by over 232 points to close at nearly two-week high of 15,970.75. Renewed buying by foreign funds buying, albeit in small lots, after ten days of sell-off also some what supported the market.

Last weekend, Wall Street closed higher as the Dow Jones Industrial Average and the Nasdaq Composite Index rose by 1.02 per cent and 0.74 per cent on on strong US economic data. However, in Asia China, South Korea, and Taiwan finished slightly lower today while Japan ended higher and Hong Kong and Singapore markets were closed today. European stocks too were closed today for holiday.

In all 12 out of 13 sectoral indices closed in the green while only BSE-HC closed with minor losses. Teck, IT, CG, Realty and Auto counters were leading the pack. Overall, 27 out of 30 sensex-based scrips closed with gains while only Cipla, Hindalco and Maruti Suzuki settled with small losses. Top two heavyweights, RIL and Infosys Tech together contributed almost 80 points to the sensex rise. A smart rise in Bharti Airtel, TCS, HDFC Bank, L&T, Hero MotoCorp, HUL, ICICI Bank, Tata Steel,, HDFC, SBI and ITC also aided to the sensex surge.

The Bombay Stock Exchange 30-share barometer resumed up and later remained in positive terrain to settle at 15,970.75, showing a net rise of 232.05 points or 1.47 per cent. Last Friday, it was closed down by 74.66 points or 0.47 per cent. The NSE broader 50-issue Nifty also rose by 65.00 or 1.38 per cent to 4,779.00.

Major gainers were Hero Motocorp (4.75 pct), Bharti Air (4.31 pct), Tata Steel (3.01 pct), Infosys Tech (2.91 pct), Jaipraskash Asso (2.89 pct), TCS (2.73 pct), RIL (1.94 pct), HUL (1.87 pct), Coal India (1.83 pct), Larsen (1.69), Sterlite Ind (1.64 pct), DLF (1.34 pct), HDFC Bank (1.34 pct), NTPC (1.32 pct) and SBI (0.99 pct).

However, Cipla, Maruti Suzuki and Hindalco Ind declined marginally by 0.57 per cent to 0.65 per cent. Among the sectoral indices the BSE-Teck rose by 2.61 pct, the BSE-IT by 2l.39 pct, the BSE-Realty by 1.59 pct, the BSE- Metal 1.39 pct, the BSE-Capital Goods by 1.34 pct, the BSE- Consumer Durable by 1.27 pct, the BSE-Refinery by 1.26 pct and the BSE-Power by one pct. The total market breadth on the BSE continued to show positive trend as 1,735 counters closed in the green while 971 that finished in the red. The total turnover dropped further to Rs 1,287.57 crore from the last Friday`s level of Rs 1,798.79 crore.