Markets start new fiscal on promising note; Sensex up 165 pts
Snapping the two-day fall, the Bombay Stock Exchange barometer closed 164.85 points higher at 17,692.62 points. IT stocks particularly attracted buying support.business Updated: Apr 01, 2010 17:52 IST
Markets started the new financial year on an upbeat note with the benchmark Sensex rising by 165 points on Thursday.
Snapping the two-day fall, the Bombay Stock Exchange barometer closed 164.85 points higher at 17,692.62 points. IT stocks particularly attracted buying support.
The National Stock Exchange index Nifty rose by 41.40 points to 5,290.50 points.
Among the 30-index components, 23 gained. Barring FMCG and auto indices, all other sectoral indices closed in the positive terrain.
Marketmen said buying activity was more or less confined to IT stocks. IT sector index rose 2.26 per cent to 5,355.66 points.
A firming Asian stock markets and better opening in Europe also supported the uptrend.
Business volume were average as market players refrained from enlarging their positions ahead of a long week-end. The market will remain closed tomorrow on account of 'Good Friday'.
The consumer durable index was second best performer by adding 1.54 per cent to 4,285.55 points followed by metal index by 1.43 per cent to 18,230.14 points.
With the buying activity spilling over a wide front, the smallcap index rose by 2.43 per cent to 8,703.59 points and the midcap index by 0.88 per cent to 6,865.86 points.
However, a rise in food inflation data and petrol prices capped the gains to some extent. Auto sector fell by 0.08 per cent to 7,664.90 points after the government hiked fuel prices.