Sensex gains 47 pts at closing

Mumbai, Aug 28: The Bombay Stock Exchange Sensitive Index (Sensex) closed with a gain of 47.32 points at 11,619.52 points, as the last hour of trade surprised everyone once again.

The investor sentiment picked up after buying intensified in the blue chip companies led by Reliance Industries, State Bank Of India and Hindustan Lever Limited. Experts are of opinion that corrections are imminent now, though the long term trend of sensex is clear that the upward trend would be maintained.

Similarly, the S&P CNX Nifty rose 15 points or 0.45 per cent to close at 3,401.10.

The total turnover on BSE amounted to Rs 1,897 crore, compared to the total turnover of Rs 3,197 crore on Friday.

Crude oil prices in the US market slipped sharply with the Nymex light crude oil for October delivery declining US Dollar 1.35, to US Dollar 72.51 a barrel.

The Hang Seng index slipped 33.16 points or 0.20 per cent, to 16,922.29 while the Nikkei 225 index lost 176.07 points or 1.10 per cent to end at 15,762.59.

BSE Midcap was up by 0.60 per cent and the Smallcap was up by 0.61 per cent.

Amongst the sectoral indices the Auto sector was down by 0.07 per cent to 4,959.39, Consumer Durables was down by 0.54 per cent to 3,034.61 points and HC was down by 0.27 per cent to 3,504.08, whereas the gainers amongst the indices were Capital Goods up by 1.01 per cent to 7,747.25, Metals up by 1.17 per cent to 8,483.23, Oil and Gas up by 0.85 per cent to 5,655.10 points and PSU up by 0.62 per cent to 5,515.62 points.

Major gainers on the BSE 30 sensitive index were L&T up by 2.67 per cent to Rs 2414.50, Hindalco up by 2.26 per cent to Rs 176.55, Ranbaxy up by 1.90 per cent to Rs 396.35, SBI up by 1.67 per cent to Rs 918.80, Gujarat Ambuja up by 1.54 per cent to Rs 115.65, HLL up by 1.33 per cent to Rs 239.80, Grasim Industries up by 1.20 per cent to Rs 2,229.30, Reliance Industries up by 1.04 per cent to Rs 1,122.05, TCS Ltd up by 0.80 per cent to Rs 982.30 and Reliance Energy up by 0.80 per cent to Rs 449.75.

Besides, the losers on the index were Dr Reddy's Lab down by 50.49 per cent to Rs 714, Cipla down by 1.36 per cent to Rs 243.55, HDFC down by 1.26 per cent to Rs 1,263.55, Bajaj Auto down by 1.04 per cent to Rs 2,722.00, HDFC Bank down by 0.74 per cent to Rs 843.70, NTPC down by 0.24 per cen to Rs 124.60, ICICI bank down by 0.20 per cent to Rs 587.50, BHEL down by 0.19 per cent to Rs 2,245 and ITC down by 0.11 per cent to Rs 180.20.

The breadth in the broader market was in favour of 1455 advances as against 1023 declines and 71 scrips that remained unchanged out of 2549 scrips that traded on the BSE counters today.

UNI