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Sensex nears 11,000 mark, trades at 10,940 with 61 pts gain

Written by: Staff
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Mumbai, Mar 17 (UNI) Bombay Stock Exchange (BSE) Sensitive Index moved in a narrow range of 10,900 to 10,951 in the trading so far.

It was trading at 10,940 with a gain of 61 points at 1340 hrs.

Sensex crossed the 10,900 mark this morning, opening with a fairly good gain of 28 points at 10,902 over its last close of 10,878.

It was just 49 points short of 11,000 mark as it touched an all-time high of 10,951.38 points before cooling off in the early morning trade.

The National Stock Exchange (NSE) S&P CNX Nifty index opened flat at 3,226.90 points, as compared to the last close of 3,226.60 points.

Nifty traded at a new high of 3,250 points with a gain of 24 points at 1340 hrs.

The 50-share Nifty index traded at 3,238 with a gain of 12 points at 1058 hrs.

Suzlon Energy gained more than two per cent to Rs 1,317 per share after the news of cent per cent stake buying in a Belgian firm for euro 465 million.

Maximum gains were seen in the BSE sectoral indices of public sector undertakings (PSU) and oil and gas.

Samllcap, midcap and bankex indices of the BSE were under pressure in a bullish afternoon session.

The top gainers on the 30-share Sensex at 1045 hrs were Hindalco, TCS, ONGC, ITC, NTPC, Tata Motors, Grasim Industries, Maruti, Wipro and SBI.

The top Sensex losers were HDFC Bank, Gujarat Ambuja Cements, Hindustan Lever, HDFC, Tata POwer, Bharti Tele, Tata Steel, Reliance Energy and ICICI Bank.

Mahindra&Mahindra Financial Services listed on the NSE at Rs 225 as against the issue price of Rs 200 for Rs 10 share and touched a high of Rs 243.80 in the mid-morning trade so far.

The scrip traded with a gain of 17.55 per cent at Rs 235 per share at 1310 hrs.

Another company listed on the NSE today was B L Kashyap&Sons at Rs 800.50 as against the issue price of Rs 685 and touched a high of Rs 1,010. The scrip traded with a gain of 43.07 per cent at Rs 980 around 1310 hrs.

Visa Steel was also listed on the NSE at Rs 57 per share same as the issue price and touched a high of Rs 60.25 and a low of Rs 49.75.

It traded with a gain of 3.68 per cent at Rs 57 at 1310 hrs.

The crude oil price surged to 63.47 per US dollar on the New York Mercantile Exchange (NYMEX) which could have a negative impact on the markets.

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