Mumbai, Nov 2: After looming in the red for most of the trading session today on global cues, the Bombay Stock Exchange (BSE) sensitive index crossed the 20K level to touch a high of 20,025.77 in late trade but eventually settled to close at 19,976.23 after gaining 251.88 points.
The benchmark Sensex today opened with sharp dip of about 360 points at 19,364.61 in early trade and hit the day's low of 19,255.77. It took an over 100 points dip as the global markets were weak. However, the market crossed the 20K level to touch the day's high of 20,025.63 in late trade in banking and auto stocks and index heavyweight Reliance Industries, dealers said.
The broader based National Stock Exchange (NSE) Nifty index ended up by 66 points at 5,932.40 as compared to previous close of 5,854.85. The Nifty opened with a marginal gain at 5,854.85 in early trade. It touched a day's high of 5,944.75 and a low of 5,714.25 during the day trade.
According to market experts, the market breadth was even on BSE and 20 of the 30 Sensex stocks ended with gains. The BSE Mid Cap index ended up 0.69 pc to 8,021.80 and BSE Small Cap index was about one percent up to 9,742.43. Both these indices underperformed the Sensex.
European and Asian markets edged lower following a setback in US stocks.
Auto, FMCG and realty stocks recovered in late trade. ONGC hit an all-time high in afternoon trade. GSM cellular operators Bharti Airtel and Idea Cellular tumbled.
Banking stocks surged in late trade. State Bank of India (SBI) rose 8.94 pc to Rs 2,256 and was the top gainer from the Sensex pack after it revised interest rates on domestic term deposits. SBI cut interest rates on 550 day domestic term deposits by 25 basis points to 8.75pc. HDFC Bank was up 4.44pc to Rs 1,750 and ICICI Bank up 2.66 pc to Rs 1,335.
Among other gainers, Reliance Energy rose 4.59 pc to Rs 1,849 and Reliance Industries (RIL) rose 1.52pc to Rs 2,712.25. ONGC rose 2.62pc to Rs 1,365.10 to hit an all time high of Rs 1,386.90.
FMCG stock rose on buying at lower level after their recent sharp fall. India' s largest cigarette maker by sales ITC rose 1.83 pc to Rs 175 and Hindustan Unilever rose 0.8pc to Rs 195.80.
Capital goods stocks edged higher. Larsen&Toubro was up 1.09pc to Rs 4,484, Bharat Heavy Electricals up 2.62pc to Rs 2,731 and Suzlon Energy was up 0.12pc to Rs 1,965.30.
Realty stocks were also on positive side. Indiabulls Real Estate was up 7.07pc to Rs 649.50, Unitech up 2.2pc to Rs 378.25 and DLF eded up 0.44 pc to Rs 932.
However, Telecom stocks were on negative side on reports of tough norms suggested by the government for spectrum allocation. Bharti Airtel declined 4.96pc to Rs 896 and was the top loser from Sensex pack, followed by Idea Cellular which lost 1.13 pc to Rs 131.30.