Close: Markets end 1.4% up on renewed buying

Close: Markets end 1.4% up on renewed buying
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First Published: Tue, Mar 31 2009. 04 50 PM IST
Updated: Tue, Mar 31 2009. 04 50 PM IST
New Delhi: Market closed 1.4% up on Tuesday after it had trimmed some gains amid volatility during early sessions. Buying emerged across all counters and firm cues from the Asian and European markets also boosted the domestic indices.
The Bombay Stock Exchange benchmark Sensex opened trade 1.5% up today, recovering smartly from Monday’s losses. Favorable US index futures added to buying sentiments but concerns about possible bankruptcy of General Motors and Chrysler caused investors to be slightly cautious.
All sectoral indices ended in green, with capital goods, pharma, realty, auto, metal, technology, IT and FMCG witnessing most of the buying.
The 30-share BSE index closed higher by 140.36 points at 9,708.50 and the 50-share NSE Nifty ended up by 42.80 points at 3,020.95.
Jaiprakash Associates led the gains among the BSE pack, gaining by 7.26% to Rs84.20, along with Tata Steel by 5.02% to Rs206, Tata Motors by 4.64% to Rs180.30, Ranbaxy Laboratories by 4.58% to Rs165.60, State Bank of India by 4.36% to Rs1,066.55 and Reliance Communications by 4.02% to Rs174.60.
Ranbaxy Laboratories closed up by 4.58% after Daiichi Sankyo announced that the Indian pharma will launch its anti-hypertensive drug Olvance in India.
But there were some heavy weight losers as well Housing Development and Finance Corp by 2.71% to Rs1,411.20, NTPC Ltd by 1.80% to Rs180.20, ICICI Bank by 1.58% to Rs332.60, Hindustan Unilever Ltd by 0.50% to Rs238.20 and ONGC Ltd by 0.41% to Rs779.70.
Most of the Asian markets also ended in green. Japan’s Nikkei tumbled by 1.5% as investors preferred to offload shares on the last trading day of the fiscal year. Hong Kong’s Hang Seng closed 0.8% up after shedding some of its earlier gains.
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First Published: Tue, Mar 31 2009. 04 50 PM IST
More Topics: BSE | NSE | Sensex | Markets | US |