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Sensex hits new high of 10,234 pts; Jagran falls sharply on debut

By Staff

Mumbai, Feb 22 (UNI) The benchmark index of the Bombay Stock Exchange (BSE) crossed the 10,200 mark barrier for the first time today and touched a new high of 10,234 later in the afternoon session.

There was a dip of 77 points on the Sensex to 10,157 points as CBI conducted raids on premises of some brokers, Bharat Overseas Bank and Vijaya Bank in Delhi, Mumbai and Ahmedabad.

The key index was trading at 10,198, with a gain of 30 points at 1435 hrs.

Earlier in the morning, the 30-share Sensitive Index (Sensex) opened 11 points up at 10,179 and touched a new high of 10,222 in the first hour of trading.

However, in a rather calm market before the Union Budget, the infotech, automobiles, banks and consumer durable indices of the BSE were in the red.

The BSE sectoral indices with good gain were metals, PSUs and capital goods.

Smallcap and midcap companies were trading in the red.

Top Sensex gainers were NTPC, Cipla, Hindustan Lever, HDFC, BHEL, Tata Power, Tata Steel, Ranbaxy, Grasim Industries and Hindalco.

The blue chips trailing on the Sensex were Dr Reddy's Lab, Bajaj Auto, ITC, ICICI Bank, Gujarat Ambuja Cements, Larsen&Toubro, Bharti Tele, HDFC Bank and Hero Honda.

The National Stock Exchange (NSE)'s Nifty index opened flat at 3,035 and touched a high of 3,055 points in the first hour of trade.

The 50-share Nifty was trading 10 points up at 3,045 at 1445 hrs.

Hindi daily 'Dainik Jagran' publisher Jagran Prakashan made its debut on the stock markets today. Its scrip opened at Rs 361 per share with 12.5 per cent premium against the fix issue price of Rs 320 per share of Rs 10 value on the NSE.

The media scrip touched a high of Rs 392 and a low of Rs 290 during the first hour of trading.

On the BSE, the Jagran scrip opened at Rs 376 per with 17.5 per cent premium and went up to Rs 405 in the early morning trade. It was at Rs 279 in the afternoon at 1400 hrs. So far 91.69 lakh shares have been exchanged on the BSE.

However, the scrip dropped sharply thereafter to day's low of Rs 273 on the BSE, a fall of Rs 47.

The crude oil prices stayed above USD 60 per barrel at 61.10 per barrel in the New York Mercantile Exchange (NYMEX) which might concern the investors.


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