Mumbai, Nov 4: The outlook continued to be cheerful for the fifth straight session on the Bombay Stock Exchange on Tuesday, Nov 4 with the Sensex spurting by 293.44 points to end firm at 10,631.12 on strong global cues and buying interest in Bank and Realty shares at the closing stage.
The outcome of Finance Minister P Chidambaram's meeting with PSU bankers made Dalal Street happy today. The benchmark indices witnessed buying interest in last one hour of trade after a choppy trade since morning. The 50-share NSE Nifty crossed the 3,100 level and went up higher by 108.45 points to touch an intraday high of 3152.30. The 30-share BSE Sensex jumped over the 10,500 mark and hit an intraday high of 10,668.48, with a gain of 330.8 points. The Sensex surged 293.44 points or 2.84 per cent, to close at 10,631.12 and the Nifty settled at 3142.10, up 3.23 pc or 98.25 points over the previous close.
BSE Midcap Index rose 90.68 points or 2.7 pc to 3,446.22 and Small Cap index was up by 108.01 points or 2.75 pc at 4,035.11.
Mr Chidambaram said liquidity has to be monitored on a continuous basis and the RBI will provide enough dollar liquidity to banks.
Major PSU banks see interest rates softening after opening of liquidity tap by RBI last week. Mr S A Bhatt, Chairman of Indian Overseas Bank, said rates on advances will be cut by 75 bps, and that of deposits by 50 bps. SBI Chairman O P Bhatt said the bank may cut the lending rates by 25-50 bps and PLR by upto 50 bps within a few days.
Total traded turnover in today's session stood at Rs 49,570.10 crore. This includes Rs 11,391.32 crore from NSE Cash segment, Rs 33,758.52 crore from NSE F&O and the balance Rs 4,420.26 crore from BSE Cash segment.
Market breadth was positive with about 1979 shares advancing and 994 shares declined. Nearly 218 shares remained unchanged.
However, Asian markets ended mixed. Nikkei jumped 6.27 per cent.
Kospi and Jakarta rose 2.15 pc and 1.26 pc, respectively. Hang Seng was up just 0.28 pc. However, Straits Times fell 2.87 pc.
Shanghai lost 0.76 pc and Taiwan fell just 0.05 pc. European markets were trading higher. FTSE was up 1.01 pc and CAC and DAX were up over 1.5 per cent each.
In a mixed trend on the BSE, BANKEX index shot up sharply by 353.65 points to settle firm at 5741.04 points, followed by CG index by 350.35 to 7942.57 points, REALTY index by 260.16 to 2402.44 points, PSU index by 233.40 to 5078.65 points, METAL index by 232.30 to 5854.67 points, OIL&GAS index by 202.39 to 6749.51 points, SML CAP index by 108.01 to 4035.11 points, POWER index by 95.39 to 1781.38 points, MID CAP index by 90.68 to 3446.22 points and FMCG index by 89.29 to 1961.19 points.
However, only two BSE indices drifted lower on profit booking by local operators. IT index declined steeply by 124.41 points and ended negative at 2749.95 points and TECH index dropped by 18.15 to 2200.80 points.
Top heavyweight stocks rallied as DLF ltd advanced by 14.66 per cent to finish high at Rs 290.15, followed by Ranbaxy Lab by 9.88 pc to Rs 209.15, Jai prakash Asso by 9.82 pc to Rs 89.45, Tata Power by 8.32 to Rs 750.95, REL COM ltd by 7.67 pc to Rs 250.50, ITC Ltd by7.63 pc to Rs 170.70, ONGC Ltd by 7.12 pc to Rs 761.30,ICICI Bank by 6.53 pc to Rs 459.10, SBI by 6.50 pc to Rs 1321.15, Tata Steel by 6.48 to Rs 239.85,BHEL by 5.38 pc to Rs 1413.30, Bharti Airtel by 4.31 pc to Rs 717.30, Mahindra&Mahindra by 4.10 pc to Rs 399.80, HDFC Bank by 3.73 pc to Rs 1110.75 and L&T by 3.44 pc to Rs 922.95.
But Leading shares plummeted with Satyam Comp declining by 7.41 pc to close low at Rs 277.85, TCS ltd dropped by 7.38 pc to Rs 508.20, Wipro came down by 4.80 pc to Rs 263.00, Infosys Tech eased by 3.32 pc to Rs 1332.75, Sterlite Ind slipped by 2.00 pc to Rs 289.05 and ACC Ltd by 1.04 pc to Rs 506.40.