Closing: Markets surge by 2% on firm Europe

Closing: Markets surge by 2% on firm Europe

New Delhi: Markets made smart recovery from the day’s low and Bombay Stock Exchange benchmark Sensex traded higher to end over 2% up on Monday, 29 December.

Significant buying of foreign funds emerged on firm opening of European markets. Stocks rallied in sectors like banking, metal, oil and gas, power, capital goods and realty.

The 30-share BSE Sensex ended at 9,328.92 mark, a rise by 204.60 points and the broad based 50-share NSE Nifty ended 64.95 points higher at 2,922.20 mark.

Shares of Satyam Computer Services Ltd. was the top most gainer in the BSE pack, it traded higher by 9.41% to Rs148.25. Their scrips gained strength after board announcement that the company would consider measures to strengthen their governance structure.

Other Sensex gainers were Ranbaxy Laboratories, higher by 8.14% to Rs234.60, Jaiprakash Associates by 7.88% to Rs79.45, Grasim India by 6.03% to Rs1,260 and ICICI Bank by 5.97% to Rs442.90.

Top loser was the auto segment with Tata Motors losing the highest by 4.56% to Rs148.50, followed by Mahindra and Mahindra by 3.58% to Rs256 and Maruti Suzuki by 2.14% to Rs499.80.

Among Asian bourses Japan’s Nikkei reversed an early weak trend to quote 0.09% gains and Hong Kong’s Hang Seng index ended nearly 1% higher.