Sensex high by 29.55 pts; closes at 13874.33

Mumbai, Dec 4: The S&P CNX Nifty index of the National Stock Exchange (NSE) today touched a new peak of 4,001 on sustained heavy speculative buying support from Foreign Insitutional Investors (FIIs) and domestic investors even as the Sensex rose by 29.55 points on the Bombay Stock Exchange (BSE) to close at 13874.33, setting a new record.

The BSE Sensex ended edged up further as buying demand continued at higher levels. Shares from auto, metal and sugar sector witnessed keen buying interest.

The Sensex opened with an upward gap at 13846.71 as buying continued following 148 point surge last friday and moved to an all time high of 13912.54. It low for the day was 13828.90 before it resumed high at 13,846.71 points.

The BSE CG index shot up by 197.85 points and closed at 9305.81 points while CD index advanced by 62.47 points and touched 3422.46 points, followed by SML index by 58.10 to close at 6776.84 points, METAL index by 54.64 and closed at 8967.97 points and AUTO index went up by 43.08 and closed at 5515.85 points.

But BSE BANKEX index crashed by 38.89 points to close at 7250.99.

The S&P CNX Nifty rose 3.40 points (0.09 per cent) to 4001, an all time closing high. It had advanced to an all time high of 4015.25 in intra-day trade before it opened high at 4,002.40 points.

The total turnover on BSE amounted to Rs 4808 crore boosted by two block deals of 20.09 lakh shares each struck in ICICI Bank counter in the institutional segment at an average rate of Rs 884 per share.

Market breadth was strong on BSE with 1462 shares advancing, as compared to 1090 that declined. 81 shares remained unchanged. Among the Sensex pack, 16 advanced while the rest declined.

The Nikkei average fell 0.11 per cent on Monday as exporters like Honda Motor Co. Ltd. fell on a strong yen while investors flocked to domestic demand-related issues such as property and consumer finance stocks. The Nikkei shed 18.19 points to close at 16,303.59.

Hang Seng index rose 11.91 points (0.06 per cent) to 18,702.73 Oil prices gained slightly Monday as fresh comments from key OPEC members over the weekend suggested the oil cartel would push for further cuts in output at its next meeting later this month. Light, sweet crude for January delivery rose 2 cents to USD 63.45 a barrel on the New York Mercantile Exchange.

The Dow Jones industrial average fell 27.80 points, or 0.23 per cent, to 12,194.13, while the Standard&Poor's 500 Index dropped 3.92 points, or 0.28 per cent, to 1,396.71. The Nasdaq Composite Index sank 18.56 points, or 0.76 per cent, to 2,413.21, stocks brokers said.

Tata Motors was the top gainer, up 3.64 per cent to Rs 873.55 on 7.02 lakh shares. Reliance Energy (REL) (up 3.30 per cent to Rs 558), NTPC (up 2.67 per cent to Rs 152) and Bhel (up 2.53 pr cent to Rs 2584) were the other gainers.

Cement maker ACC hiked 3.25 per cent to Rs 1169 as investor's believed that the recent cut in diesel and petrol prices will bring down transportation costs for cement firms.

L&T gained 3.24 per cent to Rs 1423.55 on reports that the company will foray into arms and ammunitions business.

Index heavyweight Reliance Industries advanced 0.24 per cent to Rs 1264 on 5.62 lakh shares.

HDFC Bank was the top loser, down 1.84 per cent to Rs 1100 on 2.66 lakh shares of which 2.40 lakh shares came through a block deal which was executed at Rs 1100 per share on BSE.

Wipro was down 1.77 per cent to Rs 590.25, Hero Honda by 1.51 per cent to Rs 760 and Satyam Computers slid by 1.47 per cent to Rs 460 among the other losers.

Parsvnath Developers was the second highest traded counter on BSE with total turnover of Rs 301.80 crore followed by Era Construction (Rs 129.35 crore) and Unitech (Rs 103.84 crore), brokers added.

UNI

Related Stories
Stock markets fall flat after a firm start