Sensex on the rise, up nearly 120 points


Mumbai : Indian equities markets were trading volatile a little after Thursday noon, with a key index ruling about 120 points above its last closing figure.

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Around 12.45 p.m., the benchmark index of the Bombay Stock Exchange (BSE), the Sensex, which opened higher at 14,476.15 points was ruling at 14,542.71 points, 119.98 points or 0.77 percent above Wednesday’s close.

Around the same time, the S&P CNX Nifty of the National Stock Exchange (NSE) was ruling in the green, 0.5 percent up at 4,314.5 points.

Companies with lower market capitalisation were doing better, with the BSE midcap index trading 1.39 percent higher and the BSE smallcap index moving up 1.5 percent.

Thanks to buying interest in such smaller market cap companies, the market breadth was quite positive: 1,617 stocks advanced and 747 declined. Eighty-four remained unchanged.

Of the 13 sectoral indices on the BSE, those for realty, banking and technology scrips were ruling at the top, while auto, energy, and FMCG stocks came under selling pressure.

Among gainers on the Sensex at this time were Grasim, up 2.75 percent at Rs.2,386.05; Jaiprakash Associates, up 2.67 percent at Rs.219.10; Hindalco, up 2.63 percent at Rs.86; and Reliance Communications, up 2.62 percent at Rs.309.40.

Losers included Tata Motors, down 3.32 percent at Rs.345.15; M&M, down 2.75 percent at Rs.704; ONGC, down 2.24 percent at Rs.1,027.50; and Maruti Suzuki, down 1.7 percent at Rs.1,041.80.

Other Asian markets were also in the green, with the Nikkei 225 Stock Average, a key index of the Tokyo stock exchange, ending Thursday’s trade 205.76 points up at 9,796.08 points.

The Hang Seng, a primary index of the Hong Kong stock exchange, was similarly up and ruling at 18,237.79 points, an increase of 345.64 points over its previous close.

US markets Wednesday ended mixed with the Dow Jones industrial average dropping 23.05 points or 0.28 percent to end at 8,299.86, while the Standard and Poor’s 500 Index was up 5.84 points or 0.65 percent at 900.94.

The technology scrip-heavy Nasdaq Composite Index also rose, moving up 27.42 points or 1.55 percent to 1,792.34.