Sensex marches ahead 11,500 mark while gaining 284 pts
Mumbai, Apr 3: The BSE Sensex today crossed the 11,500 mark for the first time with a gain of 284.40 points as it closed at 11,564.36 on the back of all-round buying.
The Bombay Stock Exchange (BSE) Sensitive Index (Sensex) gained 2.52 per cent, which was much above the gains made by the other Asian markets today.
Nikkei also gained by 1.6 per cent to touch new high of 17,333 points.
The 30-share benchmark index gained 299 points in intra-day trade to touch an all-time high of 11,579.10, as compared to the last close of 11,279.96 points.
It had crossed the 11,000 mark for the first time on March 21 and took just eight trading sessions to gain another 500 points.
Earlier, the Sensex opened with a big gap of 63 points at 11,342.96, as compared to the last close of 11,279.96.
The bull-run on the first day of the new financial year 2006-07 saw 15 blue chips on the Sensex gain more than two per cent; seven of them gained more than three per cent and five made profits of more than four per cent.
Infosys Technologies gained more than five per cent while closing at Rs 3,143 with a gain of 5.45 per cent or Rs 162.40.
However, it was Reliance Industries that led the bull run right since morning and finally closed 4.14 per cent up at Rs 829, with a gain of Rs 33.
The other top ten gainers on the Sensex included Maruti, Grasim Industries, Tata Motors, Satyam Computers, Cipla, Gujarat Ambuja Cements, Bajaj Auto and Hindustan Lever.
All sectoral indices were up by more than one to three per cent.
Maximum gains were seen in the BSE IT index which was up by 3.59 per cent, pushed up by huge gains in Infosys, Satyam Computers and TCS.
BSE teck index for technology companies was also up by 3.27 per cent; BSE capital goods index was up by 2.86 per cent; auto index was up by 2.79 per cent while oil and Gas index was up by 2.59 per cent.
The BSE smallcap index was up by 3.23 per cent and the midcap index was up by 2.53 per cent, showing widespread gains.
The National Stock Exchange (NSE) S&P CNX Nifty index too closed at a new all-time high of 3,473 with a gain of 70 points.
The other big gainers on Sensex today were ICICI Bank, Larsen&Tubro, BHEL, ITC, Bharti Tele, Ranbaxy, Dr Reddy's Lab, TCS, ACC and SBI. Automobile companies figured in Sensex top gainers, boosted by hefty rise in monthly sales in March this year. Maruti Udyog gained 4.27 per cent closing at Rs 911.70; Tata Motors also gained over four per cent at 4.22 per cent to Rs 972 and Bajaj Auto gained 2.71 per cent to close at Rs 2,821.40.
Cement stocks too, gained with big margins, led by Grasim Industries which gained 4.23 per cent to close at Rs 2,144.95; Gujarat Ambuja Cements gained 2.95 per cent to Rs 106.30 points and another cement major ACC gained 1.71 per cent closing at Rs 795.50.
Other big gainers were Hindustan Lever, up 2.61 per cent closing at Rs 279.40. Cipla, the drug giant, gained 3.73 per cent to close at Rs 795.50 and Satyam Computers gained 3.90 percent to close at Rs 882.30 Among the midcap stocks, TVS Motor gained 11.14 per cent to close at Rs 155.65.
Capital goods major Bharat Heavy Electrical Limited (BHEL) today announced big rise in its fourth quarter revenues (Q4) which boosted the stock by 2.27 per cent to Rs 2,298.05, with a gain of Rs 51.10.
Another capital goods major Siemens gained 6.85 per cent to close well above Rs 6,000 mark at Rs 6,072.15.
The market breadth was overwhelmingly positive today with 29 of the 30 Sensex scrips advancing, 92 of the BSE-100 scrips advancing and 176 of the BSE-200 scrips advancing.
Even in the broader markets, the breadth was highly positive with 2,185 scrips advancing out of 2,580 scrips traded, and only 350 scrips declined.