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Sensex vaults 614 points by close

Sensex vaults 614 points by close
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First Published: Wed, Jul 09 2008. 03 35 PM IST
Updated: Wed, Jul 09 2008. 03 35 PM IST
By Puneet Wadhwa / Livemint.com
Unfazed by the withdrawal of support to the UPA government and a lower growth reported by the infrastructure sector for May, the markets continued their upward march with the benchmark index moving up 615 points to close at 13,964 levels.
In broader markets, the Nifty firmed up 168 points to 4,157 levels.
“Intra-day, crucial support for the Nifty is pegged at 3,952 levels. If it sustains above the pivot at 4,008, it can move up to 4,102 levels in an optimistic scenario,” said a technical analyst with Religare Securities.
In another economic development, hit by rising interest costs, the growth in six core industries - power, cement, coal, steel, crude oil and petroleum products, slipped to 3.5% in May as compared to 7.8% a year ago.
At the bourses, leading the pack of gainers among the BSE-30 scrips were Reliance Infra and Jaiprakash Associates. They surged over 10% by close. Bharti Airtel, DLF Limited, Reliance Industries, ICICI Bank, Tata Motors, State Bank of India and Ambuja Cements were the other notable gainers.
Shares in Reliance Communications moved up over 6% after the company extended its negotiation deadline with South African telco MTN.
Fresh investor interest was also visible in realty counters with Puravankara and Omaxe Limited firming up more than 8% each. Anant Raj Industries, HDIL, Unitech Limited, Peninsula Land, Parsvnath Developers and Sobha Developers also logged smart gains besides DLF Limited.
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First Published: Wed, Jul 09 2008. 03 35 PM IST
More Topics: Markets | Stocks | Sensex | Nifty | BSE. NSE |