Sensex closes half a percent higher; metal, bank stocks rally
A benchmark index for Indian equities markets Friday closed 87 points higher following a healthy buying spree in metal, banks and auto stocks.
The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 19,217.96 points, closed at 19,317.25 points, up 87.99 points or 0.46 percent from its previous close at 19,229.26 points.
The index touched a high of 19,348.85 points and a low of 19,193.11 points, intra-day. The BSE midcap index was up 41.52 points, while the smallcap index edged higher by 5.55 points.
The wider 50-scrip S and P CNX Nifty of the National Stock Exchange was up 28.10 points or 0.48 percent at 5,879.60 points.
The BSE metals index was up 238.65 points. The bank index was trading higher by 178.57 points, followed by the auto index, up 65.60 points.
However, the consumer durables index was down by 96.41 points, the healthcare index was lower by 22.90 points and the power index decreased by 4.50 points.
Among the gainers were Sterlite Inds, up 3.57 percent at Rs.113.20; Hindalco Inds, up 3.54 percent at Rs.120.00; State Bank of India (SBI), up 2.58 percent at Rs.2,320.15; Jindal Steel, up 2.48 percent at Rs.430.50; and Tata Steel, up 2.33 percent at Rs.397.25.
The major losers were Bharti Airtel, 1.52 percent lower at Rs.311.95; BHEL, down 1.38 percent at Rs.224.90; Dr Reddy's Lab, down 0.99 percent at Rs.1,833.70; Tata Power, down 0.90 percent at Rs.104.75; and Cipla, down 0.60 percent at Rs.404.05.
Among other Asian markets, Japan's Nikkei was down 0.02 percent, while Hong Kong's Hang Seng rose 0.71 percent. The Shanghai Composite Index also closed higher by 4.32 percent.
European markets were flat. Britain's FTSE 100 was down 0.02 percent while the German DAX was trading higher by 0.30 percent. The French CAC 40 was up 0.03 percent.