Stability round the corner, Sensex closes at 10,040pts

Mumbai, June 21: It was a day of dream come true for the investors, the positivity noticed in buying led the sensex to close above the 10k mark after days of lull.

The markets led by midcap and smallcap portfolio boosted the sentiments of the investors in other categories also, which finally helped the sensex to close at 10,040.14 a gain of 217.62 points.

Experts feel, invesments in the midcap under present circumstances would be rewarding in the long term. Given the sensex performance in the last five days, it is expected the sensex will touch the 10,150 level soon and that will instill some confidence in the minds of the investors, and we can see longer rallies after that, experts added.

Today, the BSE midcap index surged 2.66 per cent, while the BSE smallcap index jumped 4.11 per cent.

On the BSE Sensex 28 scrips surged while only 2 of them slipped.

Dr Reddy?s Lab was the biggest gainer with 7.91 per cent gain to Rs 1,359.70, index heavyweight Reliance Industries (RIL) jumped 4.12 per cent to Rs 962, Hindalco rose 2.5 per cent to Rs 162.90.

Besides the losers on the index were Grasim down 1.20 per cent to Rs 1782, BHEL down 0.80 per cent to Rs 1,844, and Bajaj Auto down 0.12 per cent to Rs 2,615. The Nikkei average fell for a third straight session on Wednesday, declining 0.73 per cent on concern that higher US interest rates will dampen demand in a key market for Japanese products. The Nikkei lost 106.65 points, to 14,541.76.

The TOPIX index was down 0.93%, at 1,496.20.

In the US market Dow Jones advanced 32.73 points, to 10,974.85 following an upbeat housing report and positive news from Caterpillar, and the Nasdaq Composite index slipped 3.36 points to 2,107.06.

UNI

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