BSE Sensex climbs 156 points on positive budget outlook
A positive budget outlook and strong global cues boosted market sentiments as the Bombay Stock Exchange (BSE) Sensex climb 0.88 percent or 155.62 points, Tuesday.
BSE forays into commodities trading, picks up 26 percent stake in NMCELed by Reliance Industries (RIL) and Infosys Technologies, India's prime index rose to 17,806.19, its highest close since Feb. 19, with nineteen components ending in the green. The Sensex had touched the day's high of 17,860.10 and a low of 17,678.74 points.
Sensex heavyweight Reliance Industries gained 0.9 percent to Rs.2575.75 while India's No.2 IT company Infosys Technologies rose 3 percent to Rs.1662.10.
Reliance Energy rose 4.6 percent to Rs.1697.25 after the utility said its board would meet next week to consider a share buyback.
Shares of HDFC Bank, which fell 3.5 percent to Rs.1422.70 on Monday, bounced back to recover 2.3 percent to Rs.1455.
On Monday, HDFC Bank unveiled a $2.4 billion all-stock deal to acquire smaller Centurion Bank of Punjab.
Other shares that gained were oil companies like Indian Oil Corp, Bharat Petroleum Corp Ltd and Hindustan Petroleum Corp that rose between 4.2-5.4 percent after the rail budget cut freight rates by 5 percent on petrol and diesel.
State-run power equipment maker Bharat Heavy Electricals Ltd (BHEL) rose 4.6 percent to Rs.2180.55 after it won a $270 million order to set up a power plant in the western state of Gujarat.
Among sectoral indices, the BSE Capital Goods index was the best performer, rising 324.09 points at 16,124.36, followed by the BSE Metal index, which rose by 270.85 points at 16,108.01.
The BSE Realty index surged by 247.18 points at 10,016.49, while the BSE Oil & Gas index climbed 157.38 points at 11,214.76.
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- 3 Bollywood actress Shilpa Shetty launches fitness video
- 4 Miss Universe Dayana Mendoza
- 5 India among top 3 entertainment and media markets: PwC
- 6 Post trust vote victory, India Govt. to move forward with reforms, nuclear deal
- 7 BSE Sensex jumps 838 points as market pins hope on reforms
- 1 Reliance posts 13 percent jump in net profit for Q1 FY09 on high oil prices, volumes
- 2 Tech Mahindra's net profit jumps 52 percent in Q1 FY09, bags $700 million BT deal
- 3 Bharti Airtel's net profit jumps 34 percent in Q1 FY09, total revenues up 44 percent
- 4 Left sees red after trust vote defeat, expels Speaker from party
- 5 India among top 3 entertainment and media markets: PwC
- 6 Ford posts $8.7 billion loss in Q2, pins hope on small cars
- 7 Post trust vote victory, India Govt. to move forward with reforms, nuclear deal
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- 1 BSE Sensex snaps 5-day winning streak, closes 165 points down on profit booking, rupee appreciation
- 2 BSE Sensex jumps 838 points as market pins hope on reforms
- 3 India among top 3 entertainment and media markets: PwC
- 4 Sensex surges 254 points, investors pin hope on Govt. winning trust vote
- 5 BSE Sensex climbs 215 points amid political uncertainty
- 6 Financial stocks help BSE Sensex surge 524 points
- 7 India's inflation rate rises marginally to 11.91 percent, prices seen stabilizing
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