Sensex surges higher by 691.55 points

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Mumbai, Dec 24: The sensitive index of the Bombay Stock Exchange (BSE) climbed up by a whopping 691.55 points today to close at 19,854.12 on sustained buying in blue-chip pivotals on strong global cues.

The benchmark Sensex resumed with a positive gap of 145.73 points at 19,308.20 from its previous close 19,162.57 in early trade on firm note in global markets. It touched a day's high at 19,879.00 and gained 715.53 points in late trade. Similarly, National Stock Exchange's index Nifty today crossed the level of 6,000, before it ended with a gain of 218.60 points, or 3.79 per cent, at 5,985.10. Nifty touched a day's high of 6,001.05 and a low of 5,771.30 during the day trade.

The market surged as software shares spurted on the back of strong sentiments in global market. IT, bank, metal oil&gas and power stocks led the rally, traders said. Bharti Airtel spurted.

Reliance Industries edged higher. Reliance Energy hit all time high.

The market breadth was strong. 27 out of 30 stock from the Sensex pack were in green. Asian, US and European market performed stronger.

A stronger-than-expected US consumer spending calmed fears of the world's top economy heading into a recession. The market also cheered a comfortable victory for Bharatiya Janata Party (BJP) in the Gujarat state election.

The BSE Mid-Cap index rose 2.06 pc to 9,211.71 and small-Cap index climbed 1.42pc to 11,980.57. The market breadth was strong. On BSE, 1948 shares advanced as compared to 942 that declined and 42 shares remained unchanged.

Buying in blue chip stocks was so strong and widespread that only three stocks failed to close on a positive note today. All the sectoral indices finished in the positive zone. BSE IT, which moved up by over 6 pc, was the most prominent gainer. The Teck barometer closed stronger by 4.9 pc.

The Bankex, Metal, Oil&Gas, Power and PSU indices surged between 3pc to 4 pc, followed by Capital goods index that advanced by 2.66pc. The pharma index gained 1.23pc while the Auto and Consumer Durables indices firmed up by 0.94pc and 0.92pc respectively.

IT stocks had a highly profitable day as Infosys Technologies ended with a gain of 6.65 pc, Wipro topped the list of Sensex with a splendid gain of 8.9pc, Tata Consultancy Services had 6.1 pc gain and Satyam Computer Services was 6.3pc up.

Frontliners including HDFC notched up an impressive gain of 6.35 pc. Reliance Energy was up 6.15pc, Bharti Airtel 6.1 pc, BHEL 5.1pc, Mahindra&Mahindra by 4.85 pc, ONGC by 4.75 pc, Tata Steel 4.6 pc and ICICI Bank gained 4.4 pc to join the top gainers group.

Reliance Industries, HDFC Bank, Larsen&Toubro, NTPC, Reliance Communications, State Bank of India and Tata Motors moved up by 2 pc to 3 per cent.


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