Sensex surges 188 pts on metal, auto rally
The Bombay Stock Exchange benchmark index Sensex rallied 188 points on a last-hour brisk buying in heavy-weight stocks led by metals, auto and IT amid a strong opening of the European indices.business Updated: Feb 16, 2010 17:41 IST
The Bombay Stock Exchange benchmark index Sensex rallied 188 points on a last-hour brisk buying in heavy-weight stocks led by metals, auto and IT amid a strong opening of the European indices.
Notwithstanding a strong opening, the Sensex moved in a narrow range during most part of the day, but a fag-end rally
pushed the index to record a gain of 188.33 points to close at 16,226.68, after touching the day's high of 16,310.39 and a low of 16,021.29.
Though the upsurge was backed by the metal counters in general after base metals rose in overseas markets, the index
rally was driven mostly by Infosys and ICICI Bank which rose 1.53 per cent and 1.97 per cent, respectively.
The wide-based NSE index Nifty 50 too moved between 4,880.00 and 4,791.35 before ending with a gain of 53.80
points to 4,855.75. The index opened over 21 points higher.
While the market leader Reliance Industries rose Rs 9.95 to Rs 1,017.40 and the second-heaviest Infosys surged Rs 38.15 to Rs 2,535.65.The two carry 23 per cent weight on the index.
Among the Sensex scrips, 27 stocks ended with gains while Bharti Airtel, HDFC Bank and Hero Honda closed down.
The metal sector index gained the most by rising 1.58 per cent to 15,920.00 after Sterlite Industries, the largest
copper producer, rose by Rs 17.45 to Rs 761.70. Tata Steel, the biggest producer of the alloy, added Rs 12 to Rs 549.85.