Sensex ends above 10k, up by 247 pts

Subscribe to Oneindia News

Sensex
Mumbai, Oct 20: The key benchmark Sensex on Monday, Oct 20 ended positive on the Bombay Stock Exchange at 10,223.09 with a big gain of 247.74 points on fresh speculative demand from mutual funds in select stocks, particularly IT and Banks, in view of cut in Repo rate by RBI. Brokers said the RBI today cut the repo rate, by 100 basis points to 8 per cent with immediate effect. This move prompted the Key benchmark indices to post strong gains amid high volatility.

Top heavyweight stocks ended sharply higher. Positive European and Asian markets, and repo rate cut were the actual triggers for today's upmove in the market. Buying was seen in technology, banking, FMCG, pharma, metal and few oil stocks. However, realty, power, few auto and capital goods stocks were under pressure. Selling was also seen in midcap and small cap stocks.

Finance Minister P Chidambaram has said that the repo rate cut was consistent with the government's objective to moderate inflation and ensure satisfactory growth rate. The repo rate cut will enthuse investors to invest more, he said.

Banking stocks have surged since then. Bankex shot up by 2.08 per cent or 149.03 points, to settle at 5,695.72.

The Sensex crossed 10,000 mark at the opening session and touched a high at 10,160.47 points and it finally closed with a gain of 247.74 points or 2.48 pc at 10,223.09, after hitting an intraday high of 10,538.05.

The NSE Nifty Index surged by 48.45 points or 1.58 pc, to settle at 3122.80. It also opened firm at 3108.20 points from its last close of 3074.35 points. Later, it recorded the day's high and low at 3238.40 and 3058.95 points. respectively.

BSE clocked a turnover of Rs 3,684 crore today as compared to a turnover of Rs 4,134.51 crore on October 17. The BSE Mid-Cap index was down 1.06% at 3,507.13 and The BSE Small-Cap index was down 1.17% at 4,119.03. Both the indices underperformed the Sensex.

The market breadth was negative. On BSE, 914 shares advanced as compared to 1637 that declined. 55 shares remained unchanged.

A mixed trend was seen in the BSE major indices as IT index shot up by 204.19 points to end firm at 2741.46 points followed by BANKEX index by 149.03 to 5695.72 points, TECK index by 112.80 to 2181.00 points, METAL index by 85.65 to 5887.36, HC index by 51.47 to 3260.49 points, OILS&GAS index by 42.94 to 6522.50 and FMCG index by 38.59 to 1897.58 points.

But a few BSE indices drifted lower on profit booking by local operators as REALTY index crashed by 94.28 points to settle low at 2430.61 points, CG index dropped by 70.86 to 7170 points, SML CAP index declined by 55.04 to 4112.82 points, MID CAP index by 38.49 to 3506.35 points, POWER index by 34.05 to 1678.22 points and PSU index by 20.85 to 5214.63 points.

Top heavyweight stocks were gainers as TCS Ltd rose by 9.47 per cent and closed firm at Rs 497.15, Wiporo Ltd by 8.95 pc to Rs 280.65, Satyam Comp by 8.67 pc to Rs 289, Infosys Tech by 7.92 pc to Rs 1297.80, HDFC Bank by 5.94 pc to Rs1084.85, HDFC Ltd by 5.73 pc to Rs 1878.35, ICICI Bank by 4.95 pc to Rs 411.10, Bharti Airtel by 4.62 pc to Rs 708.05, ITC Ltd by 4.07 pc to Rs 165 and Maruti Suzuki by 4.07 pc to Rs 2.67 pc to Rs 657.55.

But a few heavyweight stocks were loserS as Grasim declined by 7.96 per cent to close low at Rs 1190.50, DLF ltd by 6.40 to Rs 272.65, ACC by 6.13 to Rs 459.05, Mahindra&Mahindra by 5.39 pc to Rs 417.25, Tata Power by 3.72 pc to Rs 720.40 and REL INFRA by 1.87 pc to Rs 481.55.


UNI

Please Wait while comments are loading...