By IANS,
Mumbai : Led by front-line stocks, Indian equities markets Monday saw a decent rally with a benchmark index ending the day 290 points higher and broader indices performing even better.
The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 19,473.93 points, closed at 19,701.73 points, up 281.34 points or 1.45 percent from its previous close at 19,420.39 points.
The 50-scrip S&P CNX Nifty of the National Stock Exchange shut shop 1.41 percent higher at 5,908.15 points.
Broader markets did better with the BSE midcap index closing 1.67 percent up and the BSE small cap index ending 2.83 percent higher.
According to leading brokerages, current valuations were attractive to a host of buyers and the recent uptrend in the markets could be sustained for some more time.
Capital goods, IT, telecom and auto stocks were among the major gainers. All 13 sectoral indices on the BSE ended in the green.
The market breadth was positive with 2,437 stocks advancing, 447 on the decline and 74 remaining unchanged.
Among the major gainers on the Sensex were M&M, up 4.75 percent at Rs.743.85; Jaiprakash Associates, up 3.25 percent at Rs.98.40; BHEL, up 2.84 percent at Rs.2,173.80; HDFC Bank, up 2.78 percent at Rs.2,398.45.
The losers included: Reliance Communications, down 2.24 percent at Rs.109.15; Hindustan Unilever, down 1.62 percent at Rs.279.45; Cipla, down 1.51 percent at Rs.315.95 and Sterlite Industries, down 0.37 percent at Rs.173.10.
Asian markets were mixed.
The Japanese Nikkei average closed 0.11 percent higher at 9,718.89 points.
Hong Kong’s Hang Seng rose 1.46 percent to end trade at 24,150.58 points. Chinese markets were closed on account of a holiday.
European stocks were trading in a slump with anticipated monetary tightening by central banks to contain inflation causing concern among traders.
Around mid-day, the French CAC 40 was trading on a flat note at 4,052.66 points, while Britain’s FTSE was ruling 0.34 percent up at 6,030.65 points.
The German DAX was ruling 0.12 percent up at 7,188.21 points.