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Sensex vaults 250 points to 16,525

Sensex vaults 250 points to 16,525
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First Published: Wed, May 28 2008. 04 24 PM IST
Updated: Wed, May 28 2008. 04 24 PM IST
The markets ended firm a day ahead of the F&O expiry with the benchmark index surging 250 points to end at 16,525 levels.
In a session marked by volatility, the Sensex moved in a broad range of 16,217 – 16,563 levels in intra-day deals. In broader markets, the Nifty ended at 4,918 levels, up 58 points.
“Incase the Sensex breaks below the support of 16,237, the down trend would continue. The next target then would be 15,953,” said a technical analyst with Religare Securities.
Among the BSE-30 scrips, ITC Limited at Rs222 levels vaulted 6.2% or Rs13 on reports that the company is raising prices of some cigarettes by 5-10%. Ambuja Cements, ACC, Hindalco, Jaiprakash Associates, Hindustan Unilever and Maruti Suzuki also logged smart gains.
Banking scrips bounced back sharply after being battered for two consecutive sessions. The banking index, BANKEX, moved up 2.8% by close. Key gainers in this pack included Axis Bank, Yes Bank, Union Bank, Punjab National Bank, Canara Bank, HDFC Bank and Kotak Mahindra Bank.
Technology scrips continued to attract fresh investor interest with MphasiS logging gains of over 10%. Aptech Limited (up 5.8%), TCS Limited (up 4.5%), Wipro (up 3%), HCL Technologies (up 2.6%) and Moser Baer (up 2.1%) were some of the notable gainers.
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First Published: Wed, May 28 2008. 04 24 PM IST
More Topics: Markets | Stocks | BSE | NSE | Sensex |