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Banking stocks drive market up 215 points

Banking stocks drive market up 215 points
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First Published: Tue, Jun 19 2007. 04 44 PM IST
Updated: Tue, Jun 19 2007. 04 44 PM IST
Mumbai: The BSE Sensex snapped two daysof losses to surge 215 points on 19 June on brisk buying by funds in heavyweight stocks led by banking stocks.
The benchmark index commenced on a firm note on the back of buying in blue-chip stocks and registered a gain of 215.36 points, or 1.53% at 14,295.50. It touched the day’s high of 14,315.18 points.
The wide-based National Stock Exchange index Nifty shot up by 67.20 points, or 1.62% at 4,214.30 points. It touched the session’s high of 4,222.40 and a low of 4,136.15 points.
Trading sentiment turned for better on opening of the ICICI Bank’s follow-on public offer, which pushed up the banking segment index. The issue was subscribed within an hour of opening. Besides, corporate major Reliance Industries also shot to near record high.
Capital goods index was the biggest gainer and rose 253.82 points at 11,358.06, oil and gas index at second level by rising 212.76 points at 7645.59, followed by bank index by 202.36 points at 7681.51.
ICICI Bank rose Rs26.55 or 2.89% to Rs944.4 while the country’s largest lender State Bank of India surged Rs54 or 4.1% to Rs1,372.4.
Engineering firm Larsen and Toubro was up Rs68.5 or 3.56% to Rs1,995.7 while India’s largest motorcycle maker Hero Honda rose by Rs12.1 or 1.85% to Rs665.8.
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First Published: Tue, Jun 19 2007. 04 44 PM IST
More Topics: Money Matters | Equities |