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Sensex closes above 11,000 mark for first time

Written by: Staff
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Mumbai, Mar 27: After days of virtually playing hide-and-seek since crossing the record 11,000 mark on March 14, the BSE Sensex today closed above the 11,000 figure for the first time.

The Bombay Stock Exchange (BSE) Sensitive Index (Sensex) had crossed the 11,000 mark in intra-day tradeingon March 14, but had closed lower.

However, in a major bull run, the benchmark index provisionally closed well above the 11,000 mark at 11,057 and touched a high of 11,101 in intra-day trading.

Earlier this morning, the 30-share Sensex opened with a gain of 46 points at 10,996, as compared to the last close of 10,950 and did not look back, in a one-way movement.

It crossed the earlier high of 11,017 and touched a new high of 11,101 this afternoon before cooling-off.

US markets and major Asian markets were also up today leading to bullish sentiments in the domestic markets.

Almost all the index heavy weights like HLL, Reliance, SBI, ITC and ONGC were up today, pushing the benchmark index to an all-time high.

Sensex finally closed well above the 11,000 mark at 11,079 points with a gain of 128.72 points or 1.18 per cent. The National Stock Exchange (NSE) S&P CNX Nifty closed at an all-time high of 3,321.65, with a gain of 41.85 points. ''While all commodity-based companies were in demand, the infotech companies, banks, services and consumer durables were dull today,'' leading broker Madhukar Sheth said.

''Despite pressure on the investors to book profit to meet tax related cash demands, today's rally seemed to have been on the back of big buying by the foreign institutional investors (FIIs), but only tommorrow we will be able to know more about it, Mr Sheth added.

Moreover, today's bull run was against the higher crude oil prices in the international markets hovering around USD 63-64 per barrel in the New York Mercantile Exchange.

Some of the blue chips saw profit-booking towards the close of the session after rising higher. SBI today inched closed to Rs 1,000 mark as it touched a high of Rs 998 before cooling-off at Rs 987.20 with a gain of 0.89 per cent.

Big boy Reliance Industries closed at a lifetime high of Rs 794.15 with a gain of 1.51 per cent. Earlier, it touched a high of Rs 797.40 in the day's trading.

Steel Authority of India (SAIL) was also at an all-time high of Rs 86.60 this morning and finally closed at Rs 84.40 with a gain of 4.39 per cent.

Among the 30 Sensex index, 20 blue chips advanced showing a rally in the frontline shares.

Maximum gains were seen in the metal companies with more than three per cent gain in the BSE metal index at 3.85 per cent.

BSE FMCG index was the other big gainer this afternoon with a gain of 3.35 per cent.

The BSE midcap and smallcap indices were also showing very good gains of 1.25 per cent and 1.30 per cent, respectively, proving that it was an all-round rallly to 11,000 mark today.

Frontline gainers among the midcap stocks were JSW Steel, gaining 9.97 per cent at Rs 291.20; Century Textile gained 7.15 per cent at Rs 418.65; Software producer Rolta gained 6.70 per cent at Rs 256.35 and Canara Bank gained 6.67 per cent at Rs 281.45.

The top Sensex gainers were led by lifetime high closing by FMCG giant Hindustan Lever at Rs 268.55, with a gain of 5.17 per cent over the last close. ITC, another FMCG major, gained 3.94 per cent at Rs 192.70.

Prominent gainers were from the metal pack were led by Tata Steel ganing 5.01 per cent at Rs 518; Hindalco was up by 3.15 per ent at Rs 175.15.

ACC, the cement major too gained 2.94 per cent at Rs 784.85.

ONGC gained 2.87 per cent at Rs 1,256.95 and Bharti came up sharply also closing 2.61 per cent up at Rs 392.85.

Cipla closed 2.02 per cent up at Rs 639.30 while Gujarat Ambuja Cements closed 1.92 per cent up at Rs 98.35.

There was a huge gain in State Bank of Mysore stock, closing at Rs 7,874.55 with a gain of Rs 1,312.40 or 20 per cent. At the same time, largest private sector bank ICICI Bank closed flat, losing 0.06 per cent at Rs 599.80. Other Sensex losers were led by Wipro - closing 2.17 per cent lower at Rs 520.10; Bajaj Auto closed 0.76 per cent lower at Rs 2,715; Tata Motors closed 0.72 per cent at Rs 901.35; Ranbaxy closed 0.60 per cent lower at Rs 400.20; Infosys closed 0.50 per cent lower at Rs 2,881.65; Hero Honda closed 0.40 per cent at Rs 888.55; BHEL closed 0.17 per cent lower at Rs 2,157; TCS closed 0.13 per cent lower at Rs 1,890.85 and HDFC closed 0.10 per cent lower at Rs 1,313.

The breadth was positive in the broader markets with 1,365 scrips advancing as against 1,156 declining, out of 2,595 scrips traded.

UNI

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