Monday close: Sensex up 136 points
Across-the-board buying support and a firm trend in Asian markets propels the BSE benchmark index to 11,914 at close.india Updated: Sep 04, 2006 20:08 IST
The Bombay Stock Exchange (BSE) benchmark Sensex on Monday spurted by a whopping 136 points to a 16-week high of 11,914.21, influenced by across-the-board buying support and a firm trend in Asian markets.
Foreign Institutional Investors (FIIs) and local mutual funds were believed to be heavy buyers in frontline stocks.
The Sensex opened strong at 11,824.49 and gradually moved upwards to the intra-day high of 11,939.96 before ending the day at 11,914.21 against Friday's close of 11,778.02, a net rise of 136.19 points or 1.16 per cent.
Similarly, the National Stock Exchange's (NSE) S&P CNX Nifty shot up by 41.40 points or 1.21 per cent to 3,476.85 from last weekend's close of 3,435.45.
FIIs and private mutual funds were seen making heavy purchases in blue chip counters as well as in the mid-cap and small-cap segments during the day, brokers said, adding, "bulls, however, were stocks-specific and made fresh commitments in select frontline counters."
In Asian markets, the Nikkei ended up by 223.82 points, the Hang Seng by 90.16 points and the Kospi by 2.39 points.
The bull charge was convincingly strong but the continued low volume remained a cause of concern among investors, a leading stock broker commented.
Meanwhile, shares of United Western Bank witnessed heavy sell-off and ended sharply lower by Rs 6.40 at Rs 16.15 on the BSE after the stock exchanges kept the circuit filter open to ensure effective price discovery following the Reserve Bank of India's decision to place the bank under moratorium.
The trading volume remained low at Rs 2,880.08 crore. Zee Telefilms remained the top traded scrip with the highest turnover of Rs 196.38 crore followed by REL Capital (Rs 103.90 crore), RIL (Rs 89.52 crore), Bombay Dyeing (Rs 70.57 crore) and Mahindra Gesco (Rs 61.66 crore).
The broad-based BSE-100 Index soared by 75.23 points to 6,058.66 from previous close of 5,983.43.
The BSE-200 Index and the Dollex-200 were quoted sharply up at 1,430.16 and 514.43 at close compared to last weekend's close of 1,411.20 and 505.05 respectively. The BSE-500 Index rose by 60.36 points to 4,522.74 from last close of 4,462.38 and the Dollex-30 ended higher at 2,113.33 from 2,078.62.
RIL advanced by 8.85 to 1131, Grasim by 24 to 2276.30, Tata Motor by 33.90 to 897.30, HDFC Bank by 5.70 to 879.40, Hindalco by 1.50 to 174.65, ICICI Bank by 11.65 to 620.75, HLL by 4.50 to 243.30, Infosys Tech by 36.75 to 1847.75, L&T by 56.20 to 2484.25, Maruti Udyog by 28.15 to 903.40, ONGC by 9.50 to 1212.55, SBI by 3.15 to 934.40, Tata Steel by 4.05 to 505.80, Wipro by 5.60 to 522.60, TCS Ltd by 18.95 to 1017.80, Satyam Computer by 10.60 to 810.45, REL by 6.90 to 451.95, ACC by 5.45 to 919.90, Bharti Tele-Venture by 5.70 to 418, HDFC by 1.60 to 1318.40 and NTPC by a rupee to 126.60.
However, Dr Reddy's Lab moved down by 5.90 to 739.40 and Hero Honda by 8.00 to 718.90.