Bulls snarl; Sensex gain 380 pts to shut at 10,451.33

Mumbai, June 2 (UNI) Bulls snarled and gained 380 points in a day of consistent buying and bottom fishing by high net worth companies, with BSE Sensex closing at 10,451.33, as compared to the previous close of 10,071.42 points.

According to experts in the stock market, the recovery in the market is attributed to reduction in the crude oil prices, as well as bottom fishing by domestic mutual funds. This is the biggest rally in a day since 1992.

Rupee has also jumped by one per cent to 45.93/US dollar, which is one week high.

All the indices on the Bombay Stock Exchange (BSE) Sensitive Index (Sensex), except the smallcap and midcap, ended in the green. BSE midcap was down after rallying in negative for the week by 0.77 per cent and the smallcap was down by 2.54 per cent.

All other indices performed well to end in green. BSE metal gained by 4.76 per cent to Rs 8,572.86 over a negative close of yesterday, oil and gas gained 3.49 per cent to Rs 5,081.03, IT went up by 2.36 per cent to Rs 3,618.23, FMCG by 3.86 to 1,895.20, auto by 4.20 per cent to Rs 4,773.74, PSU by 2.54 per cent to Rs 5,216.38 and bankex by 2.38 per cent to Rs 4,842.56.

Major scrips which gained on the Sensex were - Maruti, HLL, Hindalco, HDFC, Tata Motors, ACC, Tata Steel, Ranbaxy, Wipro and Grasim, all gaining between 5.5 to 13 per cent.

Besides, the major losers were - Reliance Energy and Tata Power, down by 2.32 and 1.40 per cent.

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