Markets remain bullish, Sensex up by 24 points

Markets remain bullish, Sensex up by 24 points
PTI
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First Published: Thu, Dec 27 2007. 05 07 PM IST
Updated: Thu, Dec 27 2007. 05 07 PM IST
Mumbai: The benchmark Sensex continued its upward march for the fifth trading session on 27 December, adding a nominal 24.20 points with general investors joining the buying-spree.
The 30-share index closed at 20,216.72, after touching the day’s high of 20,323.76 and a low of 20,159.73 points. The Nifty settled 10.75 points up at 6,081.50, after touching the day’s high of 6,110.85 and a low of 6,060.20 points.
Marketmen said the BSE barometer is set for its longest winning run since its six-day upward move on 29 October. The benchmark is likely to see a 47% gain this year, matching a similar gain last year, they added.
Major support to the market came in from metal index which gained the most — 175.77 points at 19,467.11 — followed by consumer durables (111.64 points, 6339.10).
Metal stocks were in keen demand after reports of base metals strengthening in global metal markets and expectations of some leading steel manufacturers might lift the product prices.
PSU index rose by 89.85 points to 10,116.08, bank index by 80.25 points to 11,370.33, FMCG index by 20.64 points to 2,253.48, power index by 15.08 points to 4,458.84 and oil and gas index by 7.04 points at 13,123.03.
However, auto index fell by 36.51 points to 5606.39, teck index by 29.96 to 3,975.09 and realty by 29.83 points at 12,080.16.
Morning update
Mumbai: The stock market remained buoyant with the Bombay Stock Exchange benchmark Sensex rising by 67 points in late morning trade on Thursday amid continued roll over and shortcovering of positions to next derivatives series.
The market-wide rollover was fairly good at 66% at the end of December 26, indicating the bull run to continue in the January series of the Futures and Options segment.
The BSE barometer was quoted at 20,259.55 at 10.30 am, up 67.03 points over Wednesday’s close of 20,192.52.
The Sensex trimmed its gains due to profit booking by traders after touching a high of 20,323.76 in the initial five minutes of trade.
Similarly, the broad-based S&P CNX Nifty of the National Stock Exchange advanced by 15.55 points to 6,086.30 at 10.30 am from previous close of 6,070.75.
Except IT shares, which suffered a moderate setback, stocks from other sectors attracted fresh buying interest.
Consumer durables, metal, PSU and realty shares, however, were at the forefront as investors covered short positions in these counters on the concluding day of November contract, market players said.
Opening
Mumbai: The Bombay Stock Exchange benchmark Sensex moved up by 131 points in the early trade on Thursday on sustain buying by funds and general investors.
The 30-share index, Sensex, which remained bullish in the last four trading sessions, rose by 131.24 points to 20,323.76 in the first five minutes of trade as retail investors also brought shares.
Similarly, the National Stock Exchange Index, Nifty went up by 40.10 points to touch 6,110.85 points.
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First Published: Thu, Dec 27 2007. 05 07 PM IST
More Topics: Stocks | Shares | Markets | Sensex | Nifty |