Markets rally for 4th day, ends 1.8% higher

Markets rally for 4th day, ends 1.8% higher
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First Published: Mon, Apr 06 2009. 05 10 PM IST
Updated: Mon, Apr 06 2009. 05 10 PM IST
New Delhi: Markets rose for the fourth straight session on Monday tracking firm cues from global markets. However, the Bombay Stock Exchange benchmark Sensex pared some of the morning losses on account of profit booking to close 1.8% up.
Sensex was led by growing economic optimism globally, especially after the G-20 leaders resolved to revive the world economy from sliding into further recession.
Markets opened on pleasant note, later exhibiting some volatility but it soon retained positive territory as European markets opened in green. Finally, the 30-share BSE index ended session higher by 186.04 points at 10,534.87 and the 50-share NSE Nifty ended up by 45.55 points at 3,256.60.
Consumer durables outperformed among the sectoral indices and ended up by 5.84%, capital goods stocks also advanced by 3.75%. Other sectors experiencing strong buying were metal, auto and realty. However, FMCG and IT stocks witnessed most of the selling, with the former ending in red.
Top gainers from the BSE Sensex pack are Mahindra and Mahindra Ltd by 14.26% to Rs480, Reliance Communications by 11.19% to Rs218.10, Larsen and Toubro Ltd by 7.40 % to Rs770.35, HDFC by 7.37% to Rs1,699.20, Reliance Infra by 6.47% to Rs612.55, Hindalco by 6.39% to Rs59.95, Tata Steel by 4.89% to Rs235.85, ICICI Bank by 4.00% to Rs374.65 and Sterlite Industries by 3.64% to Rs385.75.
Losers from the BSE pack are ACC Ltd by 3.14% to Rs580.90, ITC Ltd by 2.49% to Rs180.50, Ranbaxy Laboratories by 2.30% to Rs182.30, Grasim Industries by 2.13% to Rs1,567.40, Hindustan Unilever Ltd by 1.67% to Rs227.05 and State Bank of India by 1.43% to Rs1,128.95.
Among the the global markets, the Asian markets ended higher tracking US markets’ positive close on Friday. Also, Ignoring North Korea’s controversial rocket launch over the weekend Hang Seng ended 3.1% up and Nikkei higher by 1.2%.
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First Published: Mon, Apr 06 2009. 05 10 PM IST
More Topics: BSE | NSE | Sensex | Markets | Stocks |