Wednesday, November 14, 2007

Indian markets record highest intra-day gain


Mumbai, Nov 14 - It was yet another historic day on Dalal Street as the benchmark sensitive index (Sensex) of the Bombay Stock Exchange registered its highest ever intra-day gain of more than 900 points Wednesday, based on buying by domestic players and high net-worth individuals.

It was the biggest single day absolute gain for Sensex. The cues from global markets have been robust with Asia closing higher and Europe opening strong.

The Sensex shut shop at 19,929.06 points, gaining a mammoth 893.58 points or 4.69 percent.

The broader S&P CNX Nifty closed at 5,938, gaining 242.50 points or 4.26 percent.

Indian capital markets opened with gains of around 500 points on the Sensex on strong global cues.

Reports that Left parties may allow the government to negotiate the India-specific safeguards with the IAEA, required to 'operationalise' the civil nuclear deal with the US also boosted the trading sentiments, brokers said.

Oil and gas, capital goods, metal and banking stocks continued to be in the limelight Wednesday. Broader markets have also participated in the up-trend but frontline stocks outperformed BSE mid-cap and small-cap indices.

BSE mid-cap index was up by 2.12 percent or 171.91 points, plotting at 8,285.63. The small-cap index advanced by 2.43 percent or 238.09 points at 10,039.09 points.

The BSE 500 index was holding up gains of 294.18 points or 3.87 percent at 7,890.75.

All the key BSE indices were in good health, led by banking, metals and IT stocks. Market breadth was extremely strong and volumes were impressive.

The top gainers on the Sensex were HDFC Bank, up 10.81 percent to Rs.1,749.10, ICICI Bank up 8.65 percent to Rs.1,277.90 and Reliance Industries up 7.11 percent to Rs.2,887.50.

There were no losers on the Sensex Wednesday.

Source : earthtimes.org