Sensex up by 71 points, IT stocks in demand

Sensex up by 71 points, IT stocks in demand
PTI
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First Published: Thu, Dec 20 2007. 04 31 PM IST
Updated: Thu, Dec 20 2007. 04 31 PM IST
Closing
Mumbai: Sensex today ended higher by nearly 71 points on the Bombay Stock Exchange with IT and metal counters witnessing hectic buying.
The Sensex closed higher by 70.61 points at 19,162.57 after index-related IT major Infosys Technologies gained substantial ground. The index touched the day’s high of 19,291.14 points and a low of 19,097.70 points.
Similarly, the National Stock Exchange index Nifty rose by 15.35 points to 5,766.50. It touched the day’s high of 5,799.50 and a low of 5,742.75 points.
Major supporter to the market, IT sector index shot up by 139.63 points to 4,320.63, followed by metal index by 70.90 points at 18,273.00. Tech index rose by 55.78 points at 3,766.96 and auto index by 15.62 points at 5541.26.
However, capital goods index fell by 172.48 points to 18,725.69, PSU index by 50.11 points to 9,512.90, consumer durables index by 38.01 points to 6,084.31, oil and gas index by 34.76 points to 12,246.04 and bank index by 25.37 points to 10,738.59.
Late Afternoon
Mumbai: After trading in the positive zone through the morning the markets turned choppy in the afternoon session.
Sensex was trading at 19,192.26, up 100.30 points while Nifty was 20.40 points up at 5,771.55 as of 1500 hours. Agencies
Late Morning
Mumbai: Sensex gained 109 points in early trade on the back of a smart rally in IT counters during morning trading amid sustained FII pullout and mixed Asian trend.
The BSE index added 128.69, or 0.7% to 19,220.65 as of 11:33 am local time. The S&P/CNX Nifty Index on the National Stock Exchange climbed 27.30, or 0.5% to 5,778.45
Brokers expected the market to witness uptrend as the Sensex could hold the 19,066 support and showed signs of stability.
Operators, however, seem unwilling to enlarge positions in the absence of FII activity but likely to cover short positions at the week-end trading session.
Foreign Institutional Investors are consistent sellers for the last three days in view of the approaching end of their financial year.
The stock markets will remain closed on 21 December on account of Id-ul Zoha.
Opening
Mumbai: Sensex rose by 180 points in morning trade today on fresh buying by funds.
The 30-share index, which gained 12 points yesterday, added 179.85 point to touch 19,271.81 in the first five minutes of trade.
Similarly, the wide-based National Stock Exchange’s Nifty went up by 50.95 points to 5,793.25.
Marketmen said, trading activity picked up in line with better trend in Asian markets.
They said, Hong Kong market opened flat but soon turned positive as the trading was boosted by China Investment Corp’s purchase of a stake in Morgan Stanley for $5.5 billion.
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First Published: Thu, Dec 20 2007. 04 31 PM IST
More Topics: Shares | Stocks | Markets | Sensex | Nifty |