Sensex spurts by 230.07 pts at 9,964 mark

Mumbai, Nov 7: The Sensex of the Bombay Stock Exchange (BSE) on Friday, Nov 7 recovered modestly by 230.07 points after the two session downslide and ended in green at 9964.29 on strong bull support in power, oil, metal, telecom stocks and positive global cues. The markets ended the last day of the week on a strong note. Power, oil, metal, telecom, technology and capital goods stocks led the rally.

Benchmark indices had started on a positive note, but immediately turned choppy till the first half of the session. However, renewed buying in heavyweights pushed the markets back in green. Reliance Industries, NTPC, TCS, Reliance Communication, SBI, Reliance Infrastructure, HDFC and HDFC Bank were major contributors in today's gain. The Sensex recorded intraday high of 10,065.37 and low of 9,631.59. The Nifty index touched a high and low of 3010.00 and 2860.10, respectively. It finally ended firm at 2973.00 with a small gain of 80.35 from its last close of 2892.65.

Among the frontliners, Reliance Infrastructure, Hindalco, Reliance Communication, TCS, Suzlon Energy, NALCO, Power Grid Corp, BPCL and Reliance Power rose 5-17 per cent.

Volumes were very low in today's session. Total traded turnover stood at Rs 49,664 crore. This includes Rs 9,248.62 crore from NSE cash segment, Rs 36,963.32 crore from NSE F&O and balance Rs 3,452.06 crore from BSE Cash segment. Market breadth was positive and about 1552 shares advanced, while 1407 shares declined. Nearly 233 shares remained unchanged.

On the global front, Asian markets ended higher. Hang Seng jumped 3.29 per cent. Jakarta and Straits Times rose over 2.3-2.4 pc.

Taiwan and Shanghai gained 1-1.8 pc.

Metal stocks rose on recovery in metal prices on the London Metal Exchange and PSU banks on cut in lending rates. IT stocks went up as a weak rupee offset fall in American depository receipts overnight. On the BSE, major indices rallied as OIL&GAS index rose by 196.63 points to close firm at 6013.57 points, followed by METAL index by 158.89 to 5152.33 points, PSU index by 145.11 to 4965.80 points, CG index by 121.27 to 7635.41 points, BANKEX index by 90.39 to 5532.15 points, POWER index by 75.34 to 1777.57 points, IT index by 52.74 to 2670.54 points, FMCG index by 42.79 to 1989.70 and MID CAP by 36.97 to 3355.38 points.

Similarly, the top heavyweight stocks were gainers including REL INFRA by 10.92 per cent to finish high at Rs 560.90, Hindalco by 6.61 pc to Rs 60.45, REL COM ltd by 5.53 pc to Rs 228.15, TCS Ltd by 4.87 pc to Rs 524.55, NTPC by 4.78 pc to Rs 151.20, Jaiprakash Asso by 4.65 pc to Rs 87.70, Reliance by 3.95 pc to Rs 1217.85, DLF Ltd by 3.30 pc to Rs 280.90, ITC Ltd by 3.59 pc to 174.80 and Sterlite Ind rose by 3.49 pc to Rs 246.15.

However, a few leading shares were losers including M&M by 1.83 pc to settle low at Rs 372.25, ICICI Bank by 0.67 pc to Rs 431.25, Maruti Suzuki by 0.38 pc to Rs 597.65 and ONGC Ltd by 0.29 pc to Rs 741.60.

UNI