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Positive day for markets, Sensex closes 326 pts up

Positive day for markets, Sensex closes 326 pts up
PTI
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First Published: Fri, Nov 23 2007. 04 49 PM IST
Updated: Fri, Nov 23 2007. 04 49 PM IST
Closing
Mumbai: The stock markets today witnessed a rise today after a six-day long downtrend, with the Bombay Stock Exchange benchmark Sensex gaining over 236 points.
The Sensex, which remained on downward march since last Friday, gained 326.55 points to close at 18,852.87, after touching the day’s high of 18,910.46 and a low of 18,548.06.
Similarly, the wide-based National Stock Exchange index Nifty spurted by 89.25 points to close at 5,608.60. It touched the day’s high of 5,638.60 and a low of 5,514.75 points.
The major pusher was the metal index which gained 548.96 points at 16,594.08, followed by capital goods index by 500.94 points to 19,316.12. Realty index also rose by 325.99 points to 9783.36, oil and gas index was up by 295.40 points at 11,987.47 and power index by 131.28 points at 4,282.35.
Afternoon
Mumbai: Sensex spurted by over 384 points at midsession today, as brisk buying by funds in heavy-weight stocks wiped off initial losses.
The BSE index, which snapped a six-day long falling trend, bounced back by 384.14 points at 18,910.46 at 1300 hrs with most of the capital goods, realty, metal and refinery stocks climbing on fresh buying.
The key stock market index rose after its second six-day losing streak in a month, the longest since 23 May, 2002.
The National Stock Exchange index, Nifty, too rose by 119.25 points at 5,638.60.
In capital goods section, Larsen and Toubro, one of the biggest engineering company stocks, rose by Rs132.10, or 3.4%, to Rs4,074, recovering from its 10% fall in the past five trading sessions.
Reliance Energy, which dropped 12% in the past three days, gained Rs77.90, or 4.9%, to Rs1,683.
Siemens India, the local unit of Europe’s biggest engineering company, shot up by Rs228.85, or 12%, to Rs2,160, after the company said profit more than doubled in this quarter.
Opening
Mumbai: Sensex gained 331 points in early trade on emergence of buying by funds at the existing low prices.
The 30-share index, which had lost nearly 76 points yesterday, shot up by 331.42 points to 18,857.74 in the first five minutes of trade.
The wide-based National Stock Exchange’s Nifty also rose by 111.15 points to 5,630.50.
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First Published: Fri, Nov 23 2007. 04 49 PM IST
More Topics: Shares | Stocks | Sensex | Nifty | Economy |