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Bumper Q4 results lift Sensex to record 12,218.78 pts

Written by: Staff

Mumbai, May 2 (UNI) Markets registered huge gains of 1.35 per cent on BSE Sensex backed by handsome fourth quarter(Q4)results.

Sensex gained 176 points closing at new all time high of 12,218.78 points and Nifty too gained 47.8 points closing at new closing high of 3,605.4 points.

Sensex has gained 874 points in the last three trading sessions after dipping to 11,344 on Friday morning as SEBI cracked whip on broking firms in the IPO scam.

Today's Sensex and Nifty gains were against the rising crude oil prices of above USD 74 per barrel in the New York Mercantile Exchange(NYMEX).

But other Asian markets too were up today led by 1.35 per cent rise on the world's second largest market index, the Japanese Nikkei.

After last Friday's 490 point fall, the markets have been rising very firmly and gained 190 points on Saturday too in the three-hour special live trade to 12,042 points.

There was an across the board rally in the market today. BSE Bankex index was up by 4.08 per cent as it rose consistently led by ICICI Bank. ICICI Bank scrip was up by 5.37 per cent to Rs 621.95; HDFC Bank was up by 2.86 per cent to Rs 850.20 and SBI was up by 2.56 per cent to Rs 937.

ICICI Bank had a block deal of 10.2 lakh shares this morning in the Foreign Institutional Investor's segement at Rs 615 per share, BSE Health Care index had a phenomenal run too as US drug regulating agency lifted ban on ZOCOR formulations produced by Dr Reddy's Lab and Ranbaxy.

Dr Reddy's Lab was up by 17.47 per cent to Rs 1,681.95 and touched a high of 1,699.95 in the day's trade, Ranbaxy was up by 10.46 per cent to Rs 522.

BSE metal index was also up by 3.38 per cent. Aditya Birla group company Hindalco was up by 5.01 per cent to Rs 235.65 as it announced its expansion plans and Tata Steel gained 3.92 per cent to Rs 670.65.

Automobile stocks too gained handsomely led by Bajaj Auto which closed above Rs 3,000 mark at Rs 3,109.65 and Maruti was up 2.56 per cent to Rs 937.

The BSE midcap and smallcap indices too were up by 1.00 per cent and 1.04 per cent, respectively but saw profit booking towards the close.


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