Mkts begin New Year on a promising note; Sensex up 94 pts | business | Hindustan Times
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Mkts begin New Year on a promising note; Sensex up 94 pts

business Updated: Jan 04, 2010 17:42 IST

Extending the gains of the previous week, the Bombay Stock Exchange benchmark index Sensex commenced the New Year on a promising note on Monday by adding nearly 94 points following major rally in the auto and metals counters amidst positive global sentiment.

The Sensex, which recorded the biggest yearly gains in 18 years last year by rising 81 per cent, added 93.92 points today to shut the shop at 17,558.73 after touching a fresh 19-month high of 17,582.84, despite a negative opening.

In similar fashion, the wide-based National Stock Exchange index Nifty 50 rose by 31.15 points to 5,232.20 and touched an intra-day high of 5,238.45. The markets were closed on January 1 for a new year's day.

Significantly, both the exchanges started off the first trading in the New Year 55 minutes earlier at 9am.

Among the 30-share Sensex counters, 23 ended with gains while seven closed with losses. The auto, metals, consumer durables and FMCG counters led the rally on expectations of faster economic growth. All the auto companies had reported huge jump in their December sales.

The upsurge was partly checked as the index heavyweight Reliance Industries fell by 1.29 per cent to Rs 1,075.35 following two block deals comprising 2.5 crore scrips at Rs 1035 per share.