Sensex in positve frame of mind, close at 9884.5

Mumbai, June 16: BSE Sensex jumped 329.4 points in the intra-day trade today to close at 9884.5 points after the US Federal Bank issued a statement abating concerns over the US economy and inflation rates.

Earlier the sensex on global recovery touched a high of 10,118.28 and a low of 9073.06 points showing a swing of 45 points.

However even after the recovery on the bourses the investors are sceptical about the stability factor and feel it will take some time before the markets would stabilise above the 10,000 level.

Experts are of the opinion that global markets will be the biggest issue influencing the Indian market, especially the cause of inflation, low down of US economy, and also the liquidity crunch witnessed in the Japanese market, leading to the heaviest decline at Nikkei this week.

Most of the scrips on BSE sensex were in green, led by TISCO up by 11.66 per cent and followed by TCS, satyam, Infosys, L&T, Maruti, NTPC and HLL all up between 1.5-8.5 per cent.

Besides the losers on the BSE were- ACC, Grasim Industries, Gujarat Ambuja, HDFC, ONGC, HDFC,and SBI all down by 0.5 to 3.5 per cent.

-- Metal shares surged today as Sterlite Industries jumped 21.7 per cent to Rs 357, Hindustan Zinc rose 5 per cent to Rs 531 and Hindalco gained 4.3 per cent to Rs 159. Steel major Tata Steel rose a huge 14 per cent to Rs 472. As many as 39.5 lakh shares changed hands on the counter at the BSE.

IT shares surged too. TCS jumped 9 per cent to Rs 1,698, Satyam Computer gained 8.9 per cent to Rs 675 and Wipro rose 5 per cent to Rs 442. Infosys gained 3 pe cent to Rs 2,812. Index heavyweight, Reliance Industries, gained 3.8 per cent to Rs 929.

FMCG stocks edged up for the second day on strong outlook for the sector. FMCG major Hindustan Lever gained 8.7 per cent to Rs 219.90, Nestle rose 13 per cent to Rs 995, ITC gained 5.7 per cent to Rs 164.50, Glaxosmithkline Consumer Healthcare rose 7 per cent to Rs 462, Britannia gained 7 per cent to Rs 1295, and Tata Tea rose 5.5 per cent to Rs 668.

Auto shares recovered for the second day in a row. Hero Honda jumped 6.8 per cent to Rs 751, Bajaj Auto gained 5.8 per cent to Rs 2,651, Tata Motors rose 5 per cent to Rs 730.55, and Ashok Leyland gained 5 per cent to Rs 35.10.

Bharti Tele-Ventures jumped 7.6 per cent to Rs 369.90.

Besides the Losers on the list were- ACC, Grasim, Gujarat Ambuja,HDFC, ONGC, And SBI all down between 0.5 per cent to 3.5 per cent.

UNI

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