Traders buy in hordes after recent fall, Sensex ends 1.9 percent up


Mumbai: A benchmark index of Indian equities markets closed 1.9 percent higher Monday as buying picked up in the second half of the day as traders bought across sectors, capitalising on the recent fall in valuations.

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The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 19,713.84 points, closed at 19,957.59 points, up 372.15 points or 1.9 percent from its previous close of 19,585.44 points.

At the National Stock Exchange (NSE), the 50-share S&P CNX Nifty shut shop at 6,010 points, up 2.03 percent.

Broader market indices were in the green too, with the BSE midcap index ending 1.28 percent up and the BSE smallcap index moving up 1.46 percent.

All of the BSE sectoral indices closed in the positive. Banking, consumer durables and IT stocks were among the major gainers.

Among leading gainers on the Sensex were Wipro, up 4.02 percent at Rs.418.35; DLF, up 3.43 percent at Rs.318.35; Tata Motors, up 3.18 percent at Rs.1,227.95; and HDFC Bank, up 2.99 percent at Rs.2,373.55.

There were no losers on the 30-scrip Sensex.

The market breadth was positive, with 1,908 stocks advancing, 1,067 declining and 110 remaining unchanged.

According to data available with the Securities and Exchange Board of India (SEBI), foreign institutional investors lost scrips worth $318.92 million Monday.

In global markets, investor optimism rose initially after Ireland relented Sunday to apply for a rescue package worth tens of billions of dollars, having tried for months to survive a financial crisis with austerity measures and budgetary planning.

Asian markets closed mixed.

Hong Kong’s Hang Seng shut shop 0.35 percent lower at 23,524.02 points, while the Shanghai Composite index was ended 0.15 percent down at 2,884.37 points.

However, the Japanese markets ended 0.93 percent higher, at 10,115.19 points.

European bourses slipped from its opening highs, with some amount of skepticism cropping in regard to the Irish bailout.

Around mid-day, Britain’s FTSE 100 was trading 0.34 percent higher at 5,752.4 points.

The German DAX was up 0.48 percent at 6,876.36 points, while the French CAC 40 was 0.29 percent higher at 3,871.17 points.