Sensex ends 47 points up in choppy trade, banking stocks rally

Sensex ends 47 points up in choppy trade, banking stocks rally
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First Published: Mon, Feb 19 2007. 05 27 PM IST
Updated: Mon, Feb 19 2007. 05 27 PM IST
Mumbai: The Bombay Stock Exchange benchmark Sensex ended over 47 points higher on 19 February on the back of buying by funds and retail investors in several blue-chip stocks, led by banking sector.
The 30-share index, which had gained more than 345 points in the last session, gathered another 47.35 or 0.33% to close at 14,402.90 after hitting an intra-session high of 14,479.18 and a low of 14,372.07.
Similarly, the Nifty index on the broad-based National Stock Exchange rose by 18.35 points or 0.44% to close at 4,164.55 after moving between 4,177.70 and 4,149.25.
The major contributors to the rise in the Sensex were Reliance Industries, ICICI Bank, HDFC Ltd, State Bank of India, Tata Consultancy Services, Maruti Udyog, Bajaj Auto, Larsen and Toubro and ITC Ltd.
ICICI Bank, the nation’s second-largest lender, rose Rs29.45, or 3.1%, to 977.9.
The Reserve Bank of India on 31 January raised its key overnight rate by a quarter of a point to a four-year high of 7.5% to contain inflation, which accelerated to a two- year high of 6.12% on 6 January.
Reliance gained Rs11.35, or 0.8%, to 1,418.25. The company has found 120 million cubic meters of gas a day at its D6 field in the Krishna Godavari exploration area, CNBC TV- 18 reported, without saying where it got the information.
Overseas investors bought a net Rs2.11 billion ($47.5 million) worth of stocks on 14 February, according to the latest information on the Securities & Exchange Board of India’s website.
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First Published: Mon, Feb 19 2007. 05 27 PM IST
More Topics: Money Matters | Equities |