Close: Markets gain over 1% on global rally

Close: Markets gain over 1% on global rally
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First Published: Thu, May 07 2009. 05 26 PM IST
Updated: Thu, May 07 2009. 05 26 PM IST
New Delhi: Markets rebounded from Wednesday’s losses to end the day with gain of more than 1% on Thursday on the back of favorable cues from global markets.
The Bombay Stock Exchange benchmark Sensex opened above 100 points today following strong trade in Asian markets.
US stock markets on Wednesday closed higher after leaked results of bank ‘stress tests’ by the government indicated that major banks are better capitalized than expected. Market was also boosted by data that US April job cuts were not as bad as feared.
Among sectors, all indices with the exception of FMCG ended in green. Most buying was seen among metal, consumer durable, realty, bank, pharma, oil & gas and capital goods stocks.
The 30-share BSE index closed higher by 164.19 points at 12,116.94 and the 50-share NSE Nifty ended up by 58.85 points at 3,683.90.
Leading gains in the BSE index were Sterlite Industries by 13.78% to Rs517.45, Hindalco by 11.25% to Rs70.20, Tata Steel by 8.76% to Rs294.35, Wipro Ltd by 5.80% to Rs380.05, Housing Development and Finance Corp by 3.86% to Rs1,816.00, Maruti Suzuki by 3.72% to Rs839.30, State Bank of India by 3.27% to Rs1,366.95, Tata Motors by 3.05% to Rs272.10 and Bharti Airtel by 2.92% to Rs778.20.
There were also the losers in the BSE pack like Mahindra & Mahindra Ltd by 2.83% to Rs516.35, ACC Ltd by 2.44% to Rs624.70, Hindustan Unilever Ltd by 1.68% to Rs230.65, Grasim Industries by 1.47% to Rs1,774.70, NTPC by 1.34% to Rs191.90 and ITC Ltd by 1.25% to Rs189.90.
In the global front, Asian markets also ended higher on better than expected US and Australian job reports. Japan’s Nikkei reopened after three-day holiday and surged by 4.55% and Hong Kong’s Hang Seng rose by 2.28% as financial worries eased.
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First Published: Thu, May 07 2009. 05 26 PM IST
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