Sensex crosses 13100; Nifty crosses 3800 mark

Mumbai, Nov 3: The Sensex crossed the 13,100 mark and closed at a new peak of 13,130.79 today on the Bombay Stock Exchange's (BSE) with a gain of 39.67 points from it's last close of 13,091.12, propelled by robust foreign fund inflows and impressive corporate earnings.

S&P CNN Nifty index of NSE today crossed 3,800 mark, touching a new peak of 3,805.35 points at the closing session with modest gain of 14 points from last close of 3,791.20 points.

The Sensex resumed high at 13,119.34 and recorded a new high 13,146.86 in intra-day session, after a low of 13,017.84 during the mid-session.

The Nifty index also opened high at 3,793.05 points. It moved upto 3,809.20 points and it came down to 3,771.00 points during the intra-day session.

The Sensex extended it's winning streak in a highly volatile trading session. Oil exploration major ONGC surged for the second successive day in a row. Two index heavyweights Infosys and Reliance Industries (RIL) both made a late rebound from lower level.

Cement, construction and media shares were in demand. But auto and IT shares were subdued, brokers said.

The market breadth was weak with 1431 shares declining on BSE as compared to 1076 shares that rose. 77 shares were unchanged. The losers outpaced the gainers by a ratio of 1.3:1. This was the third successive day that the sensex had surged higher.

Cement shares rose on renewed buying. Gujarat Ambuja Cements gained 3 per cent to Rs 123, ACC rose 2.4 per cent to Rs 1006, UltraTech Cement gained 1.8 per cent to Rs 897 and Grasim rose 0.3 per cent to Rs 2,790. Cement firms had raised prices by Rs 5 per 50 kg bag in Maharashtra and Gujarat at the start of this month.

ONGC jumped 5 per cent to Rs 884.50. The stock was boosted by news on Thursday that Norway's Norsk Hydro had offered it stakes in two exploration blocks.

Reliance Energy (REL) added 6 per cent to Rs 509. The stock rose on high volume of 8.3 lakh shares on BSE. REL had an analysts' meet on Thursday.

Reliance Industries (RIL) gained 0.4 per cent to Rs 1289. The stock made a solid intra-day rebound. The scrip had lost as much as 1.1 per cent to a low of Rs 1269.10 in early afternoon trade. RIL is planning two major acquisitions in Europe and has set its eyes on British explorer Premier Oil Plc and a Belgian arm of oil major BP Plc, a leading broker said.

Dr Reddy's Lab rose 2.5 per cent to Rs 780. Last week, the company reported robust Q2 results.

Two-wheeler major Bajaj Auto gained 1.7 per cent to Rs 2828.

Power generation major NTPC gained 1.6 per cent to Rs 131.60. The Cabinet Committee on Economic Affairs on Thursday gave its approval for waiving the ceiling of Rs 1000 crore for equity investments by NTPC to establish financial joint ventures and wholly owned subsidiaries in India or abroad for ultra mega projects. The Cabinet's decision will help NTPC bid for large power projects being established at the initiative of the Ministry of Power.

UNI

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