Markets end on bullish note; Sensex closes above 13,000 mark

Mumbai, Apr 9 (UNI) The Sensex today breached the psychological 13,000 mark and gained an impressive 321.66 points on the Bombay Stock Exchange to settle at 13,177.74 points on renewed buying in blue-chips, coupled with short covering in derivatives, buoyed by northward-bound Asian and global markets.

Among the broader markets, the 50-stock Nifty Index also gained 91.50 points, to settle in the green at 3843.50 from its previous close of 3752.00 points.

''The market sentiment was lifted by firm global markets and a strong US jobs data released last week that showed that corporate chieftains were bullish on business prospects for the current financial year, rising interest rates notwithstanding,'' market analysts observed.

The BSE Sensex also recorded its biggest rise in a single trading session since Mar 22 this year, when the barometer index had risen by 380.36 points, in intra-day trade. The market breath was strong as against 1,916 scrips rising, 632 declined. Just 62 stocks were unchanged. Gainers outpaced losers by a ratio of 3:1 and BSE clocked a turnover of Rs 3075 crore Asian stocks rose today, with key indices in South Korea and Singapore hitting record highs, as a positive US jobs data buoyed exporters such as Sony, sparking hopes of increased sales to their biggest overseas market. Key benchmark indices in China, Japan, South Korea, Singapore and Taiwan were up between 0.65 to 2.2 per cent. The Nikkei stock average ended 1.48 per cent higher, its highest closing in nearly six weeks.

US stocks ended higher last week, lifted by a proposed USD 4.5 billion offer for DaimlerChrysler's Chrysler Group by billionaire Kirk Kerkorian. The Dow Jones industrial average and the Nasdaq Composite Index rose 0.2 per cent and 0.5 per cent, respectively.

Bank of Japan (BoJ) started a two-day policy meeting today and is expected to keep the overnight call rate unchanged at 0.5 per cent.

Investors will look for clues about the BoJ's view on prices, as well as the health of the economy, in comments from BoJ Governor Toshihiko Fukui at a post-meeting news conference tomorrow.

Meanwhile, oil prices extended losses to trade under USD 64 a barrel after 15 British military personnel, freed by Iran arrived home, resolving a standoff and easing immediate fears of supply disruptions from the Middle East.

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