Sensex clocks 2nd highest gain, spurts over 900 pts

Written by:
Subscribe to Oneindia News

Mumbai, Mar 25: The Sensex today jumped up by a whopping 928.09 points, the second highest gain this year, on the Bombay Stock Exchange to close at 16,217.49 on heavy speculative demand from Foreign Institutional Investors (FII's) and Domestic investors, spurred by the upsurge in Asian markets.

Intense buying in frontline stocks saw the Sensex breach the 16,000 mark today. The rally was triggered by JP Morgan raising Bear Stearns acquisition price 5 times and US economic data showing US new home sales had risen 3 per cent in February 2008, a leading broker said. All the sectoral indices on BSE ended higher. Banking, IT and realty stocks posted impressive gains. Mid-cap and small-cap stocks surged and the market breadth was strong.

In Europe, key indices in UK, France and Germany were up by 2.80 per cent to 3.25 per cent (PC). Most of the Asian indices rallied today. China's Shanghai Composite, which declined more than 1 per cent earlier, recovered sharply as the session progressed. It ended up 0.09 per cent. Key benchmark indices in Hong Kong, Singapore, South Korea and Japan were up by 1.19 per cent to 5.88 percent.

The 30-scrips of BSE Sensex rose sharply by 928.09 points or 6.07 per cent (pc) at 16,217.49 at the end of the sesssion.

The index gained 972.98 points at session's high of 16,262.38, hit at the fag end of the trade.

Similarly, the Nifty index of National Stock Exchange (NSE) also crossed 4800 mark and closed at a new high at 4877.50 points with a handsome gain of 267.65 points from its last close of 4609.85 points.

The BSE clocked a turnover of Rs 6836 crore as against Rs 4,682.75 on Monday.

The NSE cash turnover was at Rs 14168.97 crore and the NSE F &O turnover was Rs 66627.57 crore.

The BSE indices were in limelight as BSE METAL index shot up by 820.03 points and closed firm at 13,607.64 points, followed by Realty index by 645.06 to end at 7451.24, CG index by 641.69 to 13,867.60, BANKEX index by 626.99 points to 8371.34 points, OIL&GAS index by 577.89 points to close at 10,308.80 points, PSU index by 399.51 to 7607.65 points, MID-Cap index by 368.96 at 6,174.49 points, Small-Cap index by 334.52 to 7,284.64 points, Power Index by 191.01 points to 3153.87 points and TECK index by 185.13 to 3106.30 points.

The market breadth was strong. On BSE, 2075 stocks advanced, 637 declined and 50 stocks were unchanged.

India's largest private sector firm by market capitalization and oil refiner Reliance Industries (RIL) rose by 5.56 per cent to Rs 2323.20. The firm is reportedly evaluating a plan to set up its third refinery at Jamnagar in an ambitious project to reach a total capacity of 100 million metric tonne per annum, the largest at a single location in the world.

India's largest private sector bank by assets ICICI Bank soared by 9.38 pc to Rs 880. The bank has reportedly entered into a Rs 1,150-crore equity-cum-debt deal with Jaypee Infratech, a unit of Jaiprakash Associates. The bank has decided to pick up 1 per cent stake in Jaypee Infratech for Rs 250 crore, reports said.

India's largest engineering and construction firm by revenue Larsen&Toubro rose 3.94 pc to Rs 3053.

Top Sensex gainers were Jaiprakash Associates, up by 17.37 pc at Rs 235.10 followed by DLF by 14.86 pc at Rs 686.95, Reliance Energy by 12.09 pc at Rs 1290, Housing Development Finance Corporation by 9.90 pc at Rs 2620, Wipro by 9.59 pc at Rs 437 and Infosys Technologies by 9.45 pc at Rs 1490.

Chemicals maker GHCL surged by 19.16 pc to Rs 88.95 after the company said it plans to spin off its home textiles and retail businesses into separate units as part of a restructuring plan.

Software firm Prithvi Information Solutions was up by 10.40 pc to Rs 155.50 after the software services firm said its board will consider a share buyback proposal on March 31.

Steel pipes maker Welspun Gujarat Stahl Rohren jumped by 13.49 pc to Rs 334 after the company said it has bagged pipeline orders worth Rs 1,075 crore for the supply of spiral pipes to Northern Africa.

Apparels maker Gokaldas Exports advanced by 8.73 pc to Rs 185 on reports the company has secured an order to supply 2.50 lakh units of sportswear like jumpers, track-suits&vests for thousands of athletes participating in Beijing Olympics.

Apparels firm Arvind Mills jumped by 5.87 pc to Rs 37 after the company said Arvind Brands, a division of the company, has signed an agreement with Philips-Van Heusen Corporation for designing, distribution&retailing of IZOD brand in India.

Future Capital Holdings, the financial services arm of the Future Group, rose by 5.79 pc to Rs 578.50 after the company said its board has approved to invest upto Rs 47.75 crore in its subsidiary Future Finmart.

Cement maker Prism Cement soared by 11.20 pc to Rs 42.70 after 14 lakh shares, or 0.47 per cent of the company's equity, changed hands in a block deal on NSE at Rs 39.55 each.

Power equipment maker Jyoti Structures advanced by 4.07 pc to Rs 162.30 after it secured an order worth Rs 160 crore for construction of transmission line and sub-stations in Uganda.


Please Wait while comments are loading...