SME Times News Bureau | 28 May, 2012
Supported by firm global cues and a stronger rupee, a benchmark index for Indian equities market closed nearly 200 points up Monday. Robust buying was seen in banking, power and consumer durables stocks.
The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 16,289.82 points closed at 16,416.84 points, up 1.23 percent or 199.02 points from its previous close of 16,217.82 points.
The Sensex touched a high of 16,439.97 points and a low of 16,273.49 in intra-day trade. The BSE midcap index declined 71.26 points while the smallcap index declined 55.13 points.
The wider 50-scrip S&P CNX Nifty of the National Stock Exchange closed 1.33 percent higher at 4985.65 points.
Robust buying was seen in banking, power, consumer durables and capital goods stocks.
The banking index was up 2.42 percent or 263.74 points, power index was up 2.33 percent or 41.54, consumer durables index was up 2.20 percent or 138.85 points and capital goods index was up 1.85 points or 164.07 points.
Stocks of State Bank of India (SBI) closed up 4.76 percent at Rs.2,100.35 while those of BHEL closed up 4.17 percent at Rs.2,17.10. Shares of Tata Power were 3.81 percent up at Rs.92.55 and those of Hindalco 2.82 percent up at Rs.114.95.
Other major Sensex gainers were Tata Motors, up 2.69 percent at Rs.276.60; Mahindra and Mahindra, up 2.52 percent at Rs.654.25; ICICI Bank, up 2.29 percent at Rs.834.55; NTPC, up 1.90 percent at Rs.144.50; and Sterlite Inds, up 1.70 percent at Rs.98.45.
The only six Sensex losers were Gail India, down 2.62 percent at Rs.327.50; ONGC, down 1.26 percent at Rs.253.85; Maruti Suzuki, down 1.20 percent at Rs.1103.70; Hindustan Unilever, down 0.82 percent at Rs.417.50; Jindal Steel, down 0.50 percent at Rs.454.15; and Sun Pharma, down 0.27 percent at Rs.569.50.
Sentiments were bolstered by the rupee which ended 55.19 a dollar against previous close of 55.37.
Earlier in the day, markets in Asia closed with gains. At the time of closing of trade here, European stocks were trading higher after opinion polls in Greece indicated support for pro-bailout parties that calmed speculation of the country's exit from the single currency euro zone.
