Sensex up 122 points ahead of F&O expiry

Sensex up 122 points ahead of F&O expiry
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First Published: Wed, Sep 24 2008. 04 35 PM IST
Updated: Wed, Sep 24 2008. 04 35 PM IST
New Delhi: The markets ended firm on the back of short covering ahead of the monthly futures and options expiry on Thursday.
The BSE benchmark that touched a high of 13,840 levels in intra-day deals, settled 0.9% or 122 points higher at 13,692 levels.
In other markets, the Dow Jones Industrial Average and the Nasdaq Composite Index dropped by 1.47% and 1.18% respectively.
Most Asian markets traded firm with KOSPI surging 14.61 points to 1,496 levels, while Japan’s Nikkei stock average gained 0.2%, led higher by Nomura Holdings Inc and other financials.
Warren Buffett’s decision to invest $5 billion in Goldman Sachs also lent support, traders suggested.
Back home, the surge was led by heavyweights — Reliance Industries, HDFC Bank, State Bank of India, Hindustan Unilever, DLF Limited and Hindustan Unilever.
Sterlite Industries surged over 8.4% on the back of its parent company — Vedanta — postponing the $9.8 billion corporate restructuring plan due to the ongoing global financial crisis and shareholders’ feedback. The stock ended the day at Rs487 levels.
Ispat Industries, NALCO, Tata Steel, Jindal Steel, NMDC Limited, Welspun Gujarat and Jai Corp Limited are the other notable gainers in the metal pack.
Select banking counters also witnessed gains. Axis Bank, IDBI Bank, IndusInd Bank, Allahabad Bank and Kotak Mahindra Bank ended firm besides State Bank of India and HDFC Bank.
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First Published: Wed, Sep 24 2008. 04 35 PM IST
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