Sensex surges by 461.14 points

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Market, Sep 8: The Bombay Stock Exchange Sensex on Monday, Sep 8 smartly moved up 461.14 points to close at 14,944.97 on strong buying interest across the sectors on positive global cues.

Sensex resumed the day with a positive gap of 554.23 points at 15,034.06 and surged to strike an intra-day high of 15,107.01 in early trade, gained 623.18 points on sustained demand from the foreign institutional investors, who turned in on hopes that there would be good inflows after the NSG group affirmed the Indo-US Nuclear deal, brokers said. However, it shed some of its early gain amids bouts of volatility and ended the day below 15K level in late trade.

Meanwhile, the broader based Nifty index of National Stock Exchange has hit a day's high of 4,558.00, gained 205.70 points from its previous close of 4,352.30. However, it ended the day with a gain of 130 points or 2.99 per cent at 4482.30.

Key indices registered a sharp surge on hope of better inflows after the 45-nations Nuclear Supplier Group (NSG) lifted a 34-year-old embargo on nuclear trade with India, Marketmen observed.

The market breadth was strong. All the 30 Sensex stocks were in green. Sterlite Industries surged over 6 per cent. Banking and financial shares pared gains.

The market breadth was strong on BSE as 1656 shares advanced against 1040 that declined and 63 remained unchanged.

The total turnover on BSE was quoted at Rs 4,485 crore as compared to Rs 4,815.43 crore in the previous session. Nifty September 2008 futures were at 4510, at a premium of 27.70 points as compared to spot closing. NSE's futures &options (F&O) segment turnover was Rs 45,977.53 crore, which was lower than Rs 46,868.19 crore in the previous session.

All the sectoral indices closed in positive zone. The BSE Mid-Cap index rose 1.15 pc to 5,819.89 and Small-Cap index gained 1.12pc to 6,982.77 and underperformed the Sensex. Banking and financial shares pared gains. ICICI Bank was up 4.65pc to Rs 719, HDFC Bank by 4.43pc to Rs 1302.70, State Bank of India by 4.84pc to Rs 1592.05 and Housing Development Finance Corporation gained 4.12pc to Rs 2375.

Reliance Infrastructure jumped 4.17pc to Rs 1058.20. The company had earlier announced plans to invest Rs 12,000 crore in nuclear power capacity. It plans to install 2000 megawatt of nuclear power capacity.

Larsen&Toubro gained 4.54pc to Rs 2735.15. Bharat Heavy Electricals was up 2.90pc to Rs 1782 and National Thermal Power Corporation by 4.50pc to Rs 181.25. The company signed a memorandum of understanding with Swiss Agency for Development and Cooperation to formulate a long-term strategy for renewable energy projects.

Reliance Industries (RIL) gained 2.19pc to Rs 2125 on 7.30 lakh shares. Telecom pivotals were in demand on renewed buying interest.

Reliance Communications (RCom) advanced 1.03pc to Rs 398, off day's high of Rs 415.


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