Sensex up by 338.40 pts, ends over 20K

Written by:
Subscribe to Oneindia News

Mumbai, Dec 26: The sensitive index of the Bombay Stock Exchange (BSE) today climbed up by 338.40 points to close at 20,192.52 following strong buying pressure on positive cues from global markets.

The benchmark Sensex resumed with a positive gap of 86.84 points at 19,940.96 from its previous close of 19,854.12 and moved up to touch day's high of 20,211.47 on sustained buying in blue-chip pivotals. Moreover, the barometer index hovered around 20K level throughout the day. Similarly, National Stock Exchange's index Nifty crossed the the 6,000 level in early trade to touch day's high at 6,085.25, gaining about 100 points from day's low of 5,988.45 before finally ending with a gain of 85.65 points, or 1.43 per cent up, at 6,070.75 in late trade.

The market surged today led by rally in index frontliners including Reliance Industries. It also got a boost on reports the government has allowed all trusts to invest in securities, including shares and bonds of listed companies, traders said.

Oil&gas, metal, capital goods and power stocks led the positive rally. While, IT stocks slipped. Mid-cap and small-cap shares gained momentum. The market breadth was strong. 24 out of 30 stocks from the Sensex pack ended in green. Asian markets, which opened before Indian markets, were mixed. Key European markets were closed today.

The BSE Mid-Cap index ended 2.05 pc to 9,400.96 and small-cap index gained 3.02 pc to close at 12,342.49 in the late trade. The market breadth was strong. On BSE, 2251 shares advanced as compared to 664 that declined. 30 shares were unchanged. BSE clocked a turnover of Rs 7,634 crore compared to Rs 5,694.27 crore on previous day.

DLF ended up by 5.18 pc, followed by Hindalco Industries 4.48 pc up, Reliance Industries 3.67 pc, Tata Steel up by 3.54pc, Tata Motors by 3.28 pc up. Grasim Industries shot up by 2.97 pc and State Bank of India, with a gain of 2.94 pc, were the biggest gainers on the sensitive index.

Bajaj Auto came down 1.84pc, while ONGC ended marginally low and Hindustan Unilever, Wipro , HDFC and Tata Consultancy Services ended almost flat.

Surge in share prices of state-owned oil marketing companies pushed the BSE Oil&Gas Index 3.45 per cent up. BSE Metal Index ended 2.5 per cent higher.

The government had allowed all trusts to invest in securities, including shares and bonds of listed companies. Subsequently, now charitable trusts, including educational institutions, hospitals and religious trusts, will be able to access the market. The move will give a boost to the Indian equities market as a large number of trusts, such as schools, temples and private hospitals having huge resources will be able to invest their funds in the market. Trusts had a corpus of nearly Rs 25,000 crore by the beginning of the decade, according to data collected by the government for tax purposes.


Please Wait while comments are loading...