An audacious display; sensex up by 233 pts

Mumbai, Sept 13: The Bombay Stock Exchange Sensitive Index (Sensex) gained 233 points to register a plus two per cent close at 11,893.79, as buying intensified in the Power, Refinery and Auto sector on the back of lowest crude prices in the past five and half months, and the decision by RBI to amalgamate United Western Bank with IDBI.

Even as the metal sector tracking weakness on the London Metals Exchange prevented a plus 11,900 close, this is the highest close amongst the emerging markets in Asia.

Similarly the S&P CNX Nifty too gained 64.65 points or 1.9 per cent to close at 3,454.55.

The strong industrial growth figure has boosted the investor sentiment and it got reflected in the FII flow today. The figures are expected to bring more investments in coming months, said a stock market trader.

The market also saw another favourable decision in favour of United Western Bank, as its amalgamation with IDBI got finalised.

RBI has instructed IDBI to pay Rs 28 per share to the share holders on the prescribed date, which is not yet decided. The decision boosted the market sentiment in favour of Banking sector which saw a gain of 2.54 per cent.

BSE clocked a turnover of Rs 3,967 crore today.

The breadth too in the broader market turned positive in favour of 1,142 advances as against 252 declines out of total 1,422 scripts that traded the BSE counters today.

Nymex crude was trading at a five and half month low of just above US Dollar 64 per barrel mark and was the biggest trigger to assist the markets today.

Amongst the BSE sectoral indices, except the metals all other sectors closed in the green, especially led by 3.96 per cent gain on Bankex, followed by 2.54 per cent in the PSU sector, 2.19 per cent in the Auto sector, 2.06 per cent in the IT sector and a 1.94 per cent gain for the Capital Goods sector.

Major gainers on the BSE-30 Sensex were Bharti Airtel up by 4.67 per cent to Rs 443.05, NTPC up by 4.40 per cent to Rs 129.40, ICICI up by 4.29 per cent to Rs 630.85, SBI up by 4.01 per cent to Rs 969.40, HDFC bank up by 3.93 per cent to Rs 873.80, Maruti Udyog up by 3.66 per cent to Rs 955.95, Dr Reddy's Lab up by 3.59 per cent to Rs 737.30, HLL up by 2.86 per cent to Rs 235.65, L&T up by 2.71 per cent to Rs 2,521.60 and Bajaj Auto up by 2.52 per cent to Rs 2,777.40.

Besides, there were only two losers on the index: Hindalco down 0.64 per cent to Rs 171.00 and Reliance Communications down 0.35 per cent to Rs 324.25.

UNI

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