BSE Sensex looks north, closes 90 points up
Encouraged by positive quarterly results and strong future guidance announced by IT bellwether Infosys Technologies and hopeful of a robust earning season, positive market sentiments helped the Bombay Stock Exchange (BSE) Sensex maintain its upward momentum, Wednesday, allowing it to close up 0.56 percent or 90.53 points, with 14 of the components ending in the green.
The 30-share benchmark index closed at 16,244.19, its highest close in three weeks, since March 28. During intraday trade, the index hit a high of 16,413.80 and a low of 16,198.56.
The index, which hit a record high of 21,206.77 on Jan. 10., is down about 20 percent this year.
Software giant Infosys Technologies was the biggest gainer, rising 5.90 percent to Rs.1599.95. Other IT majors Wipro and Satyam Computer Services advanced 5.35 percent and 0.44 percent to Rs.447.35 and Rs.454.05 respectively.
Top listed Reliance Industries (RIL) and India's second largest bank ICCI Bank surged 1.38 percent and 1.10 percent to Rs.2644.80 and Rs.815.75 respectively.
Other stocks to rise were Reliance Energy (up 3.44 percent to Rs.1345.25), Hindalco (up 1.70 percent to Rs.176.50), Reliance Communications (up 1.13 percent to Rs.525.65), ITC (up 1.01 percent to Rs.210.05), DLF (up 0.76 percent to Rs.622), Grasim Industries (up 0.59 percent to Rs.2568.55), Housing Development Finance Corporation (up 0.41 percent to Rs.2384.30), Maruti Suzuki (up 0.22 percent to Rs.756.10) and Cipla (up 0.09 percent to Rs.219.20).
The top losers of the day were Ambuja Cements, BHEL and Jaiprakash Associates, plunging 3.60 percent, 3.22 percent and 2.31 percent to Rs.112.35, Rs.1778.15 and Rs.213.75 respectively.
Auto majors Tata Motors and Mahindra & Mahindra fell 1.96 percent and 0.39 percent to Rs.613.25 and Rs.620.75 respectively.
India's largest bank, the state-run State Bank of India and its smaller rival HDFC Bank slipped 0.66 percent and 0.73 percent to Rs.1666 and Rs.1305.65 respectively.
Telecom major Bharti Airtel declined 1.22 percent to Rs.806.70 while engineering and construction major Larsen & Toubro (L&T) lost 0.29 percent to Rs.2798.50.
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