Sensex finishes above 15,000 mark

Mumbai, July 9: The Sensex today kickstarted the week soaring by 81.61 points on the Bombay Stock Exchange (BSE) to settle above the 15,000 mark at 15,045.73 on the back of strong buying momentum in Banking and Information Technology scrips.

''Banking shares surged on rumours that the Reserve Bank of India (RBI) may cut cash reserve ratio (CRR). IT stocks were in demand on renewed buying interest ahead of first quaterly (Q1) June 2007 results. The Rupee climbed towards a nine-year peak today as traders built positions in the local unit in anticipation of strong foreign investment flows and on positive cues from global equities. In early trade, the partially convertible Rupee was at 40.39/40 per US dollar, strengthening from its previous close of 40.46/47. It is now moving towards a nine-year high of 40.28, which it had previously hit in late May this year,'' market analysts explained.

After opening firmly higher at 15,018.71 from its previous close of 14,964.12, the Sensex moved between 15,085.22 and 15,005.47 during the session.

Among the broader markets, the Nifty Index also advanced by around 35 points on the National Stock Exchange (NSE) to close in the green at 4,419.40 from its previous close of 4,384.85 after opening marginally weaker at 4,385.45 and touching an intra-day high and low of 4,427.55 and 4,385.45, respectively.

BSE data revealed that barometer index oscillated a mere 85 points throughout the day's trading session, indicating absence of volatility. The market breadth was strong as 1,622 shares advanced while 1,047 declined and 75 remained unchanged. The total turnover amounted to Rs 4,551 crore. Among the 30-scrip Sensex pack, 20 gained while the remaining declined.

Foreign institutional investors (FIIs) bought shares worth nearly Rs 541.39 crore, while domestic institutional investors (DIIs) were net buyers of shares worth approximately Rs 16.39 crore during the last trading session, dealers revealed.

Today's winners include Reliance Energy, BHEL, Larsen and Toubro (L&T), State Bank of India, Union Bank of India, HDFC Bank, Bank of India, Punjab National Bank, Wipro, and TCS.

The prominent laggards were Reliance Industries, Hindustan Unilever, ICICI Bank, Cipla, Maruti Udyog, Grasim, Hero Honda Motors and Mahindra&Mahindra (M&M).

Roman Tarmat was hovering at Rs 319.85, a premium of 82.77 per cent over the initial public offering (IPO) price of Rs 175. The scrip debuted at Rs 295 and touched a high of Rs 376.25 and a low of Rs 295 during the day. On the premier BSE, 81.89 lakh shares of the scrip had changed hands. Roman Tarmat is a Mumbai-based infrastructure company constructing highways, runways and other civil work.

All the Asian stocks were up today. Machinery makers such as Komatsu and Fanuc lifted Japanese markets. Nikkei surged 0.67 per cent at 18,261.98. Hang Seng rose by 1.27 per cent at 22,817.43, Taiwan Weighted was up 1.98 per cent at 9,369.84, Singapore's Straits Times advanced by 1.24 per cent at 3,606.28 and South Korea's Seoul Composite rose by 1.40 per cent at 1,887.02. Even the Shanghai Composite surged 2.69 per cent to 3,883.21.

Besides, all the European indices were also trading with gains.

US stocks gained in the last trading session, after rising oil prices lifted energy shares and a strong jobs report reassured investors about the economy. Dow Jones Industrial Average rose 45.84 points, or 0.34 per cent, to 13,611.68. The Nasdaq Composite Index advanced 9.86 points, or 0.37 per cent, to 2,666.51.

Oil prices edged lower today after reaching an 11-month high late last week. London Brent crude eased 14 cents to USD 75.48 a barrel.

UNI

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