Sensex ends near day's highs; oil & gas, consumer durables surge

MarketsYourMoneySite.

Share this article:

Dalal Street today ended with huge gains

Market closed near the day’s highs, posting its fourth weekly gain in a row, on expectations of returning investor confidence in risky assets globally will draw in more portfolio investments. Sustained buying in oil & gas, consumer durables, technology and capital goods stocks ensured a northbound trend.

The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE) wrapped up trade at 17,233.98, up 156.80 points or 0.92% from its previous close. Meanwhile, the broader-based 50-share index (Nifty) of the National Stock Exchange (NSE) ended at 5,204.7, up 46.4 points or 0.9%.

The key benchmarks had a good start today owing to positive Asian cues. Despite several attempts by bears to push down values during late morning trade, displaying volatility, bulls ultimately prevailed throughout the session. In today’s trade, the Sensex rose to as high as 17,258.97 and declined to a low of 17,106.57 levels. Meanwhile, the Nifty quoted an intraday high at 5,217.0 and low at 5,162.40.

Besides, the trend across second rung shares was also robust. The BSE Midcap and the BSE Smallcap indices inched 0.66% and 1.33% higher, respectively. On the sectoral front, out of 13 indices on the BSE, nine finished the week with gains and four in red. The BSE Oil & gas index was the biggest gainer, which rose 2.69%. Contrarily, BSE Realty index (-2.22%) declined the most.

In the Sensex pack, Sterlite Inds (5.49%), Tata Motors (4.1%), L&T (3.76%), Bharti Airtel (3.66%), Reliance Industries (3.48%) and Tata Steel (3.09%) made the highest contribution in today’s uptrend. However, DLF (-3.47%), Bajaj Auto (-3.07%), BHEL (-2.84%), Hero MotoCorp (-2.21%) and  Jindal Steel (-2.04%) bucked the region’s overall trend, recording losses.
For the Week: The market closed on a positive note. The Sensex and the Nifty rose 3% each for the week ended January 14, 2011.

The overall market breadth reflected optimism. Out of the 2,997 stocks traded on the BSE, 1,783 advanced and 1,104 declined, while 107 remained unchanged.