Sensex rebounds by 151 pts to end firm at 14,645.47
Mumbai, Jul 1 (UNI) The key benchmark Sensex of Bombay Stock Exchange (BSE) today recovered smartly by 151.63 points to end in green at 14,645.47 points from its previous close of 14,493.84 on fresh speculative demand from Foreign Institutional Investors and others in view of bullish advices from global markets.
The Sensex resumed firm at 14,506.43 points in early trade.
However, it was range- bound at 14,600-14,700 in the second half of the trade and later it went up by 151.63 points to settle at 14,645.47.
The Nifty of National Stock Exchange (NSE) opened flat at 4,292.30 points and was range-bound at 4,300-4,350 in the second half of the trade. It closed up by 49.80 points at 4,340.90, and later one went up 151.63 points or 1.05 per cent, to settle at 14,645.47.
Total traded turnover was at Rs 78,011.98 crore. This included Rs 16,643.64 from the NSE cash segment, Rs 55,613.06 crore from the NSE F&O and the balance Rs 5,755.28 crore from BSE cash segment.
The BSE clocked a turnover of Rs 5,753 crore, compared with Rs 4,277 crore the previous day. The market breadth, indicating the overall health of the market, turned negative after a positive start.
On BSE, 1,341 shares declined whereas 1,292 advanced and 73 remained unchanged. Among the 30-member Sensex pack, 26 advanced, while only 4 of them slipped.
After opening slightly higher, key benchmark indices slipped into the negative zone only to rebound later in a volatile trade.
But a sell-off gripped the market soon on concerns that a glut in share sales by corporate India will suck liquidity from the secondary market. The market cut losses later, as an index showing expansion in the manufacturing activity in June, 2009, offset dismal exports for May, 2009, a leading broker said.
Firm opening of European stocks and higher US index futures boosted Indian stocks in noon trade. The market came sharply off the higher level only to bounce back later. Volatility was immense in the last one hour of trade.
It was an extremely volatile session for the markets. However, the benchmark indices managed to stay on the higher side in the second half of the trade. The Nifty surpassed the 4,350 level during the day. Education, sugar, brokerage and oil marketing companies’ shares witnessed huge buying interest in today's trade.
Upside in telecom, realty, banking, power, technology and select metal stocks along with Reliance Industries helped the markets. Positive global cues were also being supportive. However, selling in ONGC, Power Grid, Cipla, Nalco, Hindalco, Grasim and Maruti added some volatility.
At the time of closing of the equities, Crude August futures went up by 1.76 per cent to USD 71.10 a barrel on the NYMEX.
European markets like FTSE was trading at 4,309.75, up by 60.54 points or 1.42 pc; CAC was at 3,198.49, up 58.05 points or 1.85 pc and DAX was at 4,881.78, up 73.14 points or 1.52 pc.
Among the US futures, the Dow Jones futures rose 44 points, to 8,438 and the Nasdaq futures went up 12.25 points, to 1,488.5, while Asian markets ended higher.
Shanghai, Jakarta Composite, Kospi and Taiwan Weighted gained 1.5-2.3 pc. Straits Times was up 0.8 pc, which helped to an upward trend at the domestic equity markets, brokers pointed out.
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