Sensex up 197 pts on robust economic growth

Sensex up 197 pts on robust economic growth
PTI
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First Published: Fri, Aug 31 2007. 07 23 PM IST
Updated: Fri, Aug 31 2007. 07 23 PM IST
Closing
Mumbai: Buoyed by 9.3% GDP growth for the first quarter of this fiscal, the benchmark Sensex surged 197 points on 31 August.
The BSE 30-share index, which had been on an upward march for the last five days, added 196.86 points, or 1.3% to close at 15,318.60, after touching a high of 15,350.91 during the day as most blue chip companies notched up significant gains.
The wide-based National Stock Exchange index, Nifty, shot up 51.70 points, or 1.2%, to 4,464. It touched the day’s high of 4,471.30.
Sentiment turned bullish on reports of 9.3% economic growth during the April-June quarter of the current fiscal due to strong performance of the manufacturing sector.
Brokers said major support to the market came from some leading metal and refining stocks. A better trend in Asian markets also boosted the sentiment, they added.
Metal segment index gained the most by 268.50 points at 11,565.81 on best performance by the segment major Tata Steel amid base-metals prices gaining in the London Metal Exchange.
Oil and gas stocks were at second level and rose 183.70 points at 8,160.13 followed by public sector undertaking segment index up by 146.37 points at 7,095.44.
The realty index rose 125.57 points at 7,241.65, Auto index by 101.35 points at 4,878.05, Bankex by 107.29 points at 7,858.79, capital goods index by 118.02 points at 13,424.74 and healthcare index by 71.65 points at 3,572.82.
Afternoon update
Strong interest in the mid-cap space and positive sentiment in Asia and Europe saw the domestic markets surge, with teh Sensex gaining 186 points to 15,302 at 1:05 pm on 31 August. The Nifty was up 47 to 4,459.
Morning
Mumbai: Sensex gained over 68 points in early trade on the Bombay Stock Exchange today on buying by funds in heavy-weight steel and auto stocks.
The BSE 30-share index, which gained 129 points in previous day’s trading, added 67.40 points at 15,189.14 in the first five minute of trade.
Similarly, the wide-base National Stock Exchange’s Nifty was up by 6.20 points at 4418.50 .
Marketmen said major support to the market came from some of the heavy weight stocks in metal and auto sectors.
A better trend in Asian stock markets also boosted the market sentiment, they added.
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First Published: Fri, Aug 31 2007. 07 23 PM IST