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Budget proposals hailed with 195 pts gain on BSE Sensex

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Mumbai, Mar 1 (UNI) Hailing the budget proposals for the fiscal 2006-07 made yesterday, the 30-share Sensitive Index (Sensex) of the Bombay Stock Exchange (BSE) gained 195 points closing at a new all time high of 10,565 points.

Sensex crossed the 10,500 mark for the first time today and touched a high of 10,573 points in the intra-day trading.

Overall Sensex has gained 284 points since the budget announcements yesterday, taking into account the rise by 88 points yesterday to 10,370 points.

Sensex opened lower at 10,368 points as against the last close of 10,370 but then gained momentum as the day progressed didn't look back.

The National Stock Exchange (NSE) S&P CNX Nifty index also crossed the 3,100 mark today and finally closed at 3,123.10 points with a gain of 48.40 points as against the last close of 3,074.70.

With bullish sentiments across the sectors, gains were maximum in the BSE sectoral indices of Consumer durables (4.04 pc); Automobile(3.56 pc); Information Technology (2.83pc); Technology (2.81pc); Metal(2.71pc) and Capital Goods (2.64 pc).

Oil and Gas index of the BSE however closed in the red down by 0.25 per cent and Banking scrips too were flat with a marginal gain of 0.27 per cent.

The cement stocks were up with gains in both the bluechips and the midcap companies. ACC was up by 8.83 per cent, Grasim Industries was up by 4.38 per cent and Gujarat Ambuja Cements moved up by 2.89 per cent.

Automobile giant Maruti and Tata Motors also moved up with big gains of 7.56 per cent and 3.90 per cent, respectively. Two wheeler major Bajaj Auto moved up by 4.38 per cent.

Capital goods major BHEL also gained a huge 4.15 per cent.

The tea stocks were up buoyed up by a special package of Rs 100 crore for the tea industry and midcap tea scrips like Harrisons Malayalam, Williamson Tea, and Macleod Rusel were up.

Reliance Natural Resources Limited (RNRL) made its debut on the stock markets today.

RNRL's Rs five share opened at Rs 17.50 on the BSE and the NSE, and touched a high of Rs 30 in the intra-day trading.

It saw huge volumes with more than 4.31 crore shares changing hands on the NSE.

Finally RNRL closed at Rs 18.30 on the NSE.

Sadbhav Engineering made a debut on the stock markets today.

On the NSE the scrip opened at Rs 220 against the fix price of Rs 185. The scrips touched high of Rs 338.40 and a low of Rs 202 before closing at Rs 335.

Volumes were high with 1.97 crore shares worth Rs 553.74 crore traded during the day.

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