Sensex rises by 173 points to 16,237.84

Mumbai, Nov 6 : The Sensex of Bombay Stock Exchange (BSE) surged for the third consecutive day today by 173.94 points to 16,237.84, compared with its previous close of 16,063.90, on sustained demand from Foreign Institutional Investors (FIIs) along with positive global cues.

Even the Nifty of National Stock Exchange (NSE) too advanced by 48 points to 4,813 points.

The market was surging following gains in realty and metal stocks and pullback rally with government’s disinvestment plans boosted sentiments. However, market may witness profit booking and turn volatile at higher levels, brokers informed.

The Sensex recorded the day's high and low at 16,280.24 and 16,137.42 points respectively. While, the Nifty registered the day's high and low at 4,836.20 and 4,764.85 points respectively.

The Nifty was trading above the 4,800 mark. The CNX Midcap went up 84 points to 6,776.

Among the frontliners, Suzlon Energy, Jaiprakash Associate, Unitech, DLF, Tata Steel, Sterlite, Hindalco, Jindal Steel & Power, Siemens, Reliance Infrastructure and Reliance Industries were helping the markets. However, Hindustan Unilever was the loser.

Divestment candidates like Hindustan Copper, ITI, RCF, HMT and NMDC were up by between 6 and 10 per cent. IFCI gained three per cent at Rs 51. Rolta, Patni, Rolta and Polaris were up between 3 and 4 per cent. Kingfisher Airlines and Jet Airways were up between 0.7 and 1.5 per cent.

The Asian markets were in the green, with Hang Seng, Straits Times, Kospi and Jakarta were trading between 1 and 1.7 per cent.

Nikkei and Taiwan Weighted were up by 0.9 per cent each. Shanghai gained 0.6 per cent.

The heavywight shares like DLF Ltd advanced by 4.03 per cent to Rs 387.25, followed by Tata Steel (up by 3.90 per cent to Rs 503.65), Jaipraksh Asson (up by 3.52 per cent to Rs 225.10), Rel Infra (up by 2.60 per cent to Rs 1,117.65), HDFC Co (up by 2.44 per cent to Rs 2,716), Hinalco (up by 2.24 per cent to Rs 128) and Strelite (up by 2.20 per cent to Rs 804).

While Hindustan Unilever declined by 0.86 per cent to Rs 276.50, followed by Infosys Tech by 0.59 per cent to Rs 2,209.95.

--UNI

(c) 2009 Published with permission from United News of India.
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