Nifty index crosses 4,000 mark, closes at 4,007 pts

Mumbai, Jan 2: The S&P, CNX Nifty index of NSE crossed the 4,000 mark today and closed at 4,007.40 points with a sharp gain of 41 points on the first trading session of calender year 2007 as buying momentum continued for index pivotals.

Similarly, the 30-share BSE Sensex settled with a gain of 155.53 points (1.13 per cent), to 13,942.24. Sensex had surged to hit a fresh intra-day high of 13,980.54, in late afternoon trade. Earlier today, it opened higher on the Bombay Stock Exchange at 13,827.77.

Its low for the day was at 13,797.44.

The Sensex is near its all time high of 14,035.30, which was attained on December 6, 2006.

The BSE AUTO and SML CAP indices shot up by 177.54 points and 111.78 points respectively and closed at 5696.04 points for AUTO index and for SML CAP index at 7,004.10 points, followed by CG index by 105.52 points and touched 9195.71 pooints, IT index by 96.48 points and quoted at 5369.04 points, METAL index by 82.38 points and touched 9122.01 points, MID CAP index by 5871.53 points and OIL&GAS index by 59.98 points and closed at 6239.58 points.

The S&P CNX Nifty crossed the crucial 4,000 mark. it resumed flat at 3966.25 points. The index recorded a high and a low at 4,016.65 points and 3964.95 points respecstively in intra day.

Among the 30-Sensex pack, 25 advanced while the rest declined.

Frontline IT stocks witnessed renewed buying interest, in anticipation of robust December quarterly results.

US equity markets remained closed until Today. Asian markets were trading with gains. Hang Seng (up 1.73 per cent), Jakarta Composite (up 1.72 per cent), Taiwan Weighted (up 1.24 per cent) and Seoul Composite (up 0.06 per cent) edged higher. European markets were trading on firm note with FTSE 100 gaining 1.07 per cent while the CAC 40 rose 1.17 per cent.

The next major trigger for the market is December 3, 2006 results, which are already factored into share prices. What market players will be closely watching is outlook issued by managements for Q4 March 2007 and FY 2008 (year ending 31 March 2008), brokers said.

Satyam Computers was the top gainer, up 5.04 per cent to 508.35.TCS (up 2.46 per cent to Rs 1248.55), Infosys Technologies (up 1.43 per cent to Rs 2272.45) and Wipro (up 1.15 per cent to Rs 611.50) edged higher.

Bajaj Auto jumped 4.58 per cent to Rs 2,738.75. The company's sales in December rose 24 per cent to 2,14,928 units from a year ago.

Maruti Udyog advanced 4.52 per cent to Rs 969.25. The rally was triggered after the company said it sold 56,985 vehicles in December, a 23.7 per cent rise from a year earlier.

Hero Honda advanced 3.61 per cent to Rs 789.90. The company reported a marginal increase in bike sales in December 2006 to 2.45 lakh units. The company sold 7,287 units of its scooterette - Pleasure during the month, which was launched earlier in the year.

Tata Motors rose 3.30 per cent to Rs 929.90.Ranbaxy Laboratories gained 1.67 per cent to Rs 398.40 after it was granted final USFDA approval to manufacture &market Atenolol Tablets. Atenolol is indicated in the management of hypertension.

Banking shares saw renewed buying. SBI (up 0.66 per cent to Rs 1,25.10) and ICICI Bank (up 0.72 per cent to Rs 896.85) moved higher.

Index heavyweight Reliance Industries (RIL) rose 0.89 per cent to Rs 1,281.65.

But Tata Steel was the top loser, down 0.81 per cent to Rs 478.40, brokers added.

UNI