Strong buying sentiments boost Sensex by 125 pts

Mumbai, Aug 2: The BSE sensetive index (Sensex) surged past the 10,850 mark after trading in a narrow range for the larger part of the day.

The benchmark Sensex was inspired by strong buying sentiment noticed in the blue chip companies, a resultant effect of good first quarter financial results shown by the heavy weights so far.

The BSE Sensex today closed at 10,876 points after oscillating to a high of 10,891 points and a low of 10,730.13.

Similarly, the S&P CNX Nifty rose 34 points or 1.09 per cent to close on 3,182.10.

Earlier Sensex opened five points lower in the morning trade and dwindled between the negative and the positive zones, largely affected by the hike in the crude oil price today and the investment grade assigned to the country by the international credit ratings agency - 'Fitch Ratings', yesterday.

All the indices on the benchmark index closed in the green today.

Led by the metals which surged by 2.40 per cent to 7877.84 points, the index was followed by Auto sector, which was up by 1.92 per cent to 4535.62 points and PSU sector was up by 1.70 per cent to 5142.13 points.

Major gainers on the BSE index were NTPC up by 3.75 per cent to Rs 120.40, Tata Motors was up by 3.51 per cent to Rs 758.25, Tata Steel was up by 3.12 per cent to Rs 511.20, Bajaj Auto was up by 3.06 per cent to Rs 2,543.30, Reliance Communications was up by 2.78 per cent to Rs 266.50, Gujarat Ambuja Cement was up by 2.62 per cent to Rs 105.75, BHEL was up by 2.36 per cent to Rs 2153.20, ITC was up by 2.33 per cent to Rs 173.30, Reliance Energy was up by 2.11 per cent to Rs 458.05 and Hindalco was up by 2.09 per cent to Rs 160.90.

Besides the losers on the index today were - Maruti Udyog down 0.45 per cent to Rs 779.65, HLL was down by 0.31 per cent to Rs 228.05, ICICI was down by 0.18 per cent to Rs 547.95, HDFC Bank was down by 0.16 to 779.50 and Grasim Industries was down by 0.04 per cent to Rs 2,079.20.

The breadth in the broader market was in the favour of 1533 advances as against 879 declines out of total 2500 scrips that traded on the BSE today. However, 88 scrips remained unchanged.

UNI

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