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Markets rise on global cues, Sensex up 164 points

Thursday, May 07, 2009 (17:46:43) Tags: Business, Mumbai, Economy, Indian equity markets Mumbai: Indian equities markets closed in the green today amid renewed buying activity and a global rally. A key index closed 164 points higher than its previous close. The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 12,064.51 points, gained 164.19 points or 1.37 percent from its previous close to end trade at 12,116.94 points. Similarly, the S&P CNX Nifty of the National Stock Exchange (NSE) gained 1.62 percent to close at 3,683.9 points. The broader market indices also closed lower, with the BSE midcap index moving up 2.75 percent and the BSE smallcap index gaining 2.66 percent. The Sensex touched an intra-day high of 12,143.95 points and a low of 11,981.13 points. Of the 13 sectoral indices on the BSE, only the indiex for FMCG goods lost, while the metals and consumer durables stocks gained the most. Among top gainers were Sterlite, up 13.78 percent at Rs.517.45; Hindalco, up 11.25 percent at Rs.70.20; Tata Steel, up 8.76 percent at Rs.294.35; and Wipro, up 5.8 percent at Rs.380.05. Losers included Mahindra and Mahindra, down 2.83 percent at Rs.516.35; ACC, down 2.44 percent at Rs.624.70; Hindustan Unilever, down 1.68 percent at Rs.230.65; and Grasim, down 1.47 percent at Rs.1,774.70. The market breadth was positive, with 1,696 scrips advancing, 828 declining and 92 remaining unchanged. Companies that were most traded in rupee terms included Tata Steel, Reliance Industries and DLF. In other Asian markets, the Hang Seng, a key index of the Hong Kong Stock Exchange, ended trade 383.32 points or 2.28 percent higher at 17,217.89 points. The Nikkei, a key index of the Tokyo Stock Exchange, gained 408.33 points to shut shop at 9,385.7 points. European markets were trading marginally higher with the FTSE in Britain ruling 104.69 points up at 4,501.18 points and its French peer CAC 40 trading 60.75 points higher at 3,344.26 points. Data with the market watchdog, Securities and Exchange Board of India (SEBI), showed that foreign funds were net buyers Monday lapping up scrips worth $139.10 million. (IANS)