MARKET ENDED 29.10.2010 FRIDAY
SENSEX 20032.64 +91.30
NIFTY 6017.70 +00.30
NASDAQ 2509.87 +02.50
| S&P 500 1182.13 +01.65 HANG SENG 23096.32 -114.54 UPDATEDTIME 09.28 PM 29 OCT 2010 |
Snapping a three-day falling streak, the Bombay Stock Exchange benchmark Sensex today gained over 91 points as funds purchased heavy-weight stocks, led by ICICI Bank on its higher earnings, and RBI's move to help increase money supply in the financial system.
The Sensex remained lower throughout the session but rebound in last 30-minute trade to close with a gain of 91.30 points to reach 20,032.34. After losing 362 points in last three days.
National Stock Exchange index Nifty also rose by 30 points to 6,017.70, after moving between 6,032.65 and 5,937.10 points.
The benchmark shuttled between 20,080.33 and 19,768.96 during the day.
The fag-end buying picked up after the Reserve Bank of India announced special measures to increase money supply in the financial system, raising hopes of greater liquidity in the equity markets.
Buying was confined largely to the banking sector after the biggest private lender ICICI Bank soared to the highest level since February 2008 as its second-quarter consolidated profit rose 22 per cent.
The stocks of ITC Ltd, the biggest consumer goods maker and index-related, advanced the most in a week after its quarterly profit rose 23 per cent.
Higher earnings by leading companies boosted the market sentiment which encouraged the global funds net buyers in Indian equities for a 41st day on Oct. 27, the longest streak on record.
The heaviest-weight Reliance Industries rose by Rs 12.75 to Rs 1,095.80 ICICI Bank by Rs 71.35 to Rs 1,161.65, and ITC ltd by Rs 3.90 to Rs 171.15. The three carry nearly 27 per cent weight age on the benchmark.
The banking sector index gained the most by adding 1.52 per cent to 14,016.21 followed by FMCG index by 1.30 per cent to 3,605.10. The oil and gas index also rose by 0.69 per cent to 10,948.82.
Sensex losers included Tata Steel (-2.63%), Tata Motors (-2.41%), Hindalco (-2.29%), Reliance Infra (-2.16%), Jaiprakash Associates (-1.96%), Hero Honda (-1.91%), Wipro (-1.44%), Bharti Airtel (-1.32%), DLF (-1.30%), Tata Power (-1.10%).
Gainers on the Sensex comprised ICICI Bank (6.47%), ITC (2.54%), Maruti Suzuki (1.98%), Reliance Industries (1.17%), Jindal Steel (1%), Larsen & Toubro (0.99%), Cipla (0.86%), Hindustan Unilever (0.70%), HDFC Bank (0.45%), ACC (0.08%).
In the 30-BSE index components, nine gained and 20 decline, while ACC remained unchanged.
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