Bull run lifts Sensex by 191 pts to new closing high of 10,765
Mumbai, Mar 10: The stock markets came back strongly today (Mar 10, 2006) with the benchmark index zooming to a new high of 10,765, up by 191 points (1.81 pc), on the back of all round buying in the bluechip scrips.
Strong foreign fund buying on Wednesday and 8.3 per cent industrial growth data for January, 2006, triggered today's bull run.
The net inflow of Rs 832.30 crore by the Foreign Institutional Investors (FIIs) in the cash market on Wednesday was reported by market regulator SEBI.
Information Technology, Capital Goods and FMCG sectors were the star performers in today's bull run.
The Bombay Stock Exchange (BSE) Sensex touched an intra-day high of 10,782 points, its highest ever so far, registering an intra-day rise by 209 points from the last close of 10,573.
Satyam, HDFC, Bajaj Auto and Hindustan Lever gained by more than three per cent, whereas Larsen&Toubro, Hero Honda, Infosys, Tata Motors, Tata Consultancy Services and Tata Power moved up by two to three per cent.
Only three blue chips--Reliance Energy, HDFC Bank and Raxbaxy-- ended in the red with marginal losses of less than half a per cent.
Earlier, the Sensex opened higher at 10,581 as compared to last close of 10,573 and got a boost from the good inflow of foreign funds on Wednesday.
The 50-share National Stock Exchange (NSE) S&P CNX Nifty index was also up by 54 points to new all time high of 3,183.
Capital goods maker BHEL, Asea Brown Boveri(ABB) and Siemens were up by good margins.
Midcap Stock lost the early gains and the BSE Midcap index was up by 1.22 per cent.
BSE Smallcap index was by 1.04 per cent as against 1.82 per cent gain on the Sensex, clearly a day for the blue chips rather that midcap and smallcap scrips.
Gitanjli Gems and KEC International made their debut on the stock markets today.
Gitanjli Gems opened at Rs 210 on NSE against the issue price of Rs 195 for Rs 10 share and touched a high of Rs 226 and a low of Rs 165. The scripe finally closed at Rs 165.
Another scrip KEC International opened at Rs 425 per share on NSE against the face value of Rs 10 per share. It touched a high of Rs 490 and a low of Rs 405.60 on NSE and finally closed at Rs 418.25.