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Sensex Ends Firmly, Metal Stocks Advance |
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Written by Kaiden_Regal
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Friday, 06 April 2007 |
Yesterday, the equity index opened up on a dreary note among volatility at 12,791.60. The share index continued to trade horizontally in the morning trades.
Afterward, the stock index made a smart recovery in the mid-intraday trades backed by sturdy buying interest in frontliners. Lastly, it closed the day firmly after touching a lofty score of 12,899.31. Buying activity was witnessed in cement, automobile and banking stocks.
The BSE Sensex ended at 12,856.08, up 69.31 points whereas Nifty closed at 3,752, up 18.75 points. The stock market has had 1,657 progressions as against 854 declinations.
In contrast, Asian stocks cast off, finishing two days of amplifications, as oil prices adjudged near a weekly low. BHP Billiton and Foster’s Group dangled as oil persisted forceless and the Australian Dollar mounted to its peak in 10 years.
In the meantime, inflation for the week ended Mar. 24 resisted at 6.39% as compared to 6.46% for the week ended Mar. 17. But the market anticipations were 6.24%.
Among the sectoral indices BSE Auto climbed 0.30%, BSE Bankex arose 1.89%, BSE Metal ascended 3.07% and BSE FMCG came up 0.43%.
The major gainers on the index were Tata Steel that gained 6.16% to Rs 465.20, Reliance Energy increased 2.73% to Rs 500.75 and Grasim, which arose 2.38% to Rs 2,113. ICICI Bank, HDFC and HDFC Bank were other gainers. The chief losers’ on the index were Dr. Reddy, which rejected 2.19% to Rs 729.30, Hero Honda turned down 1.78% to Rs 632.45 and NTPC declined 1.37% to Rs 158.75. Reliance, ITC and ONGC were among the other losers.
Metal stocks came up, whereas Tata Steel boosted 6.16% to Rs 465.20 followed by JSW Steel that arose 4.91% at Rs 497.10, Hindustan Zinc rose 4.70% and Jindal Steel rose 3.87% to Rs 2,386.05.
NTPC followed by Tata Steel, SAIL and Gujarat Ambuja were leading the volume chartbusters.
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