Sensex ends 201.75 points up, close at 14, 421.82

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{image-sensex, big_26062008.jpg www.oneindia.com}Mumbai, June 26: Extending the gains for the second straight day, the benchmark index of Bombay Stock Exchange today climbed 201.75 points to close at 14,421.82 on positive global cues after the US Fedral Reserve held key rates steady.

The Sensex started the day in green with a positive gap of 80.65 points at 14,300.72, as compared to previous close of 14,220.07 on sustained buying interest in select blue chip stocks. It bounced back to an intraday low at 14,196.68 on sudden selling pressure that pulled the market in negative zone at one point of time in early afternoon trade. However, the Sensex recovered its losses and advanced to touch a high of 14,449.81, gained 229.74 points before ending the session with a gain of 1.42 per cent in late trade.

Meanwhile, the broader-based Nifty index of Natioanal Stock Exchange closed 63.20 points or 1.49pc up at 4,315.85.

Overall, the market underwent choppy swings throughout the day amidst alternate bouts of buying and selling pressure in blue chip scrips. Reliance Industries surged close to 4 per cent on high volumes. Oil&gas, IT and metal stocks were in good demand. However real estate stocks were hit badly.

The US Federal Reserve yesterday held interest rates steady at 2 per cent, and signalled that it was in no rush to raise it in haste, even as it voiced greater concerns about inflation.

The market breadth was positive on BSE with 1468 shares advancing against 1159 that declined and 75 remained unchanged. The BSE Mid-Cap index ened marginally low at 5,742.04, while the Small-Cap index gained 1.01pc to 7,129.08.

The total turnover on BSE was quoted at Rs 5185 crore as compared to Rs 5,265.18 crore a day before. Turnover in NSE's futures&options segment amounted to Rs 79103.71 crore as compared to Rs 81001.29 crore in the previous session.

BSE sectoral indices displayed a mixed trend today. Realty index lost 2.02 pc, while Oil&Gas index was up 2.82 pc, Metal index gained 1.15 pc and IT index ended up 2.12 pc. Reliance Industries (RIL) advanced 3.92 pc to Rs 2219 on high volumes of 25.24 lakh shares. The stock had hit a high of Rs 2259 and low of Rs 2145.55 during the day. RIL will start pumping 25 million standard cubic metres a day (mmscmd) of natural gas by September from its D-6 field in the Krishna Godavari basin, the oil ministry said in a statement adding that the output would be raised to 40 mmscmd by March 2009.

Software pivotals gained on fresh buying as Fed's decision to keep rates steady boosted the expectation of better gains in near future. Satyam Computer Services was up 1.95 pc to Rs 453.90, Wipro by 4.60pc to Rs 477.50 and Infosys Technologies by 1.50pc to Rs 1774 and TCS was up 1.05pc to Rs 887.

Larsen&Toubro rose 1.95 pc to Rs 2358. The stock is currently trading 1:1 cum bonus. Tata Motors was up 2.10 pc to Rs 484.50, Cipla by 3.90pc to Rs 215.70 and HDFC by 1.43pc to Rs 2199.80.

State Bank of India gained 1.40pc to Rs 1220 after the state-run bank raised its benchmark prime lending rate by 50 basis points to 12.75pc with effect from June 27. The bank made this announcement during trading hours of Thursday, June 25.

UNI

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