BSE Small-Cap index strikes all-time high

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Mumbai, Sep 12: The Bombay Stock Exchange (BSE) Sensex today opened higher at 15,608.50 from it's previous close of 15,542.77 and continued to remain on positive terrain in the first session, tracking a rally in US stocks bolstered by confidence that the Federal Reserve will cut interest rates next week.

Meanwhile, the BSE Small-Cap index has struck a lifetime high at 8,634.68 today. Official data reveals that the BSE Mid-Cap index was up 0.84 per cent to 6,933.23, while the BSE Small-Cap index gained 1.20 per cent to 8, 631.60. Both these indices outperformed the Sensex. The BSE Small-Cap index struck a lifetime high of 8,634.68 earlier during the day. The market breadth was strong on the BSE, with 1,809 shares advancing as compared to 671 that declined, while 66 remained unchanged. The total turnover amounted to Rs 1674 crore so far. From 30-member Sensex pack, 25 gained while only 5 of them slipped.

All the sectoral indices on BSE logged gains. The BSE Oil and Gas Index, BSE Auto Index, BSE Consumer Durables index, BSE Bankex, BSE Realty index, BSE TecK index, BSE Metal Index, BSE Capital Goods Index and BSE FMCG Index outperformed the Sensex.

However, the BSE PSU index, BSE Health Care Index and BSE IT Index were underperformers.

The National Stock Exchange (NSE) S&P CNX Nifty also is in the green after opening firmer at 4,498.65 from it's last close of 4,497.05.

The early leaders include Reliance Energy (REL), Bajaj Auto, Maruti Udyog, Mahindra&Mahindra, Tata Motors and Reliance Industries, while NTPC, ITC and TCS were the other losers from Sensex pack.

Meanwhile, the government held initial talks with its communist allies yesterday, over a controversial India-US nuclear deal.

External Affairs Minister Pranab Mukherjee said after the 45-minute meeting that the UPA government and its Left allies set ground rules for further talks and the committee would meet again later on Sept 19.

Asian markets were mixed today, following Wall Street's strong gains overnight. Hang Seng, Taiwan Weighted and Singapore's Straits Times gained, while South Korea's Seoul Composite and Japan's Nikkei slipped.

The Dow Jones Industrial Average (DJIA) rose 180.54 points, or 1.38 per cent, to 13,308.39 yesterday. The Standard&Poor's 500 index rose 19.79 points, or 1.36 per cent, to 1,471.49, while the Nasdaq Composite index rose 38.36 points, or 1.50 per cent, to 2,597.47.

Crude oil prices held near a record high over USD 78 a barrel today, after OPEC's token output increase failed to soothe consumers' worries about falling inventories. US light crude for October delivery rose 8 cents to USD 78.31 a barrel, after a record close yesterday of USD 78.23, and within striking limit of Aug 1's record high of USD 78.77.


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