Bulls gain momentum on Indian bourses


Mumbai : Indian stock markets ended in the green Thursday. The day started with choppy trades but bourses gradually moved ahead to end at higher levels.

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Cues from other Asian markets were positive, with most ending in the green. Metal stocks were the star performers of the day in India with Tata Steel, Hindalco and Nalco leading the way.

The sensitive index (Sensex) of the Bombay Stock Exchange (BSE) gained 257.98 points or 1.39 percent and closed at 18,770.89. The broader S&P CNP Nifty index of the National Stock Exchange (NSE) was up by 72.80 points or 1.32 percent and closed at 5,569.

Mid-cap index of the BSE ended in line with the frontline indices and was up over 1.3 percent. The BSE small-cap index was up 1.4 percent. About 1,729 shares have advanced, 1,247 shares declined, and 80 shares were unchanged. BSE metal index was up over four percent, followed by auto, capital goods, oil and gas, and banks.

Among the top gainers on the Sensex were Tata Steel up by 7.67 percent at Rs.986.55, VSNL by 5.74 percent at Rs.555.20, and Hindalco showing a gain of 4.35 percent and trading at Rs.197.75.

Among the top losers were HCL Tech, losing ground significantly by 5.24 percent and trading at Rs.283, Cipla down by 4.14 percent at Rs.188.65 and Dr Reddy’s Laboratories taking a hit of about 2.39 percent trading at Rs.615.