Market ends in green;sensex jumps over 200 points
The Sensex kept on strengthening as the day progressed, barring that odd blip in the early-afternoon session, as buying continued unabated during the session. That markets around the globe were firm, also boosted sentiment. Some short-covering in the derivatives segment provided the much-needed shot of adrenaline to the market.
The 30-shares BSE Sensex settled 214.37 points (1.72%) higher, at 12,644.77.The Nifty 50 index closed 70 points up at 3678.90.
State-run Bharat Heavy Electricals (Bhel) surged 6.46% to Rs 2082.Reliance Communications (up 5.56% to Rs 397.85), ONGC (up 3.90% to Rs 791.90) and Gujarat Ambuja Cements (up 3.71% to Rs 107.50) were the other gainers.
Tata Motors edged up 3%, to Rs 772, for the second day in a row today. Managing Director, Tata Motors, Ravi Kant said on Thursday its small car project coming up at Singur, Kolkata, was on track and would be completed by the middle of next year.
Hindustan Lever rose 1.84% to Rs 180.05, on news that the company had hiked prices of its detergent brands, Surf Excel Blue and Surf Excel Quick Wash.
Car maker Maruti Udyog (MUL) rose 1.40% to Rs 790.35, after the Indian government said it will sell its remaining 10.27% stake in the former PSU in the next financial year, beginning 1 April 2007. The cabinet has approved the plan for a stake sale in the firm, which is restricted to participation from banks, financial institutions and Indian mutual funds. MUL is 54.2% owned by Japan's Suzuki Motor Corp. It was an equal joint venture between the Indian government and Suzuki, when the previous NDA-led regime at the Centre began selling the holding as part of efforts to exit non-core sectors of the economy.
Index heavyweight Reliance Industries (RIL) was up 0.96% to Rs 1312.25.
The next major trigger for the bourses is Q4 March 2007 earnings, reports of which by corporates will start next month. Market men will closely watch what company managements have to say about the outlook for FY 2008. Global liquidity still remains strong, and may provide the trigger for a recovery.
An important event being keenly awaited are the meetings this week of the central banks in Japan and the US, to decide on interest rates. The Bank of Japan’s two-day meeting ends on Tuesday (20 March 2007), while the US Federal Reserve’s two-day meeting ends on Wednesday (21 March 2007). The Fed is expected to keep interest rates unchanged. Analysts will eagerly hunt for cues for the US economic outlook in the Fed’s accompanying statement.
The 30-shares BSE Sensex settled 214.37 points (1.72%) higher, at 12,644.77.The Nifty 50 index closed 70 points up at 3678.90.
State-run Bharat Heavy Electricals (Bhel) surged 6.46% to Rs 2082.Reliance Communications (up 5.56% to Rs 397.85), ONGC (up 3.90% to Rs 791.90) and Gujarat Ambuja Cements (up 3.71% to Rs 107.50) were the other gainers.
Tata Motors edged up 3%, to Rs 772, for the second day in a row today. Managing Director, Tata Motors, Ravi Kant said on Thursday its small car project coming up at Singur, Kolkata, was on track and would be completed by the middle of next year.
Hindustan Lever rose 1.84% to Rs 180.05, on news that the company had hiked prices of its detergent brands, Surf Excel Blue and Surf Excel Quick Wash.
Car maker Maruti Udyog (MUL) rose 1.40% to Rs 790.35, after the Indian government said it will sell its remaining 10.27% stake in the former PSU in the next financial year, beginning 1 April 2007. The cabinet has approved the plan for a stake sale in the firm, which is restricted to participation from banks, financial institutions and Indian mutual funds. MUL is 54.2% owned by Japan's Suzuki Motor Corp. It was an equal joint venture between the Indian government and Suzuki, when the previous NDA-led regime at the Centre began selling the holding as part of efforts to exit non-core sectors of the economy.
Index heavyweight Reliance Industries (RIL) was up 0.96% to Rs 1312.25.
The next major trigger for the bourses is Q4 March 2007 earnings, reports of which by corporates will start next month. Market men will closely watch what company managements have to say about the outlook for FY 2008. Global liquidity still remains strong, and may provide the trigger for a recovery.
An important event being keenly awaited are the meetings this week of the central banks in Japan and the US, to decide on interest rates. The Bank of Japan’s two-day meeting ends on Tuesday (20 March 2007), while the US Federal Reserve’s two-day meeting ends on Wednesday (21 March 2007). The Fed is expected to keep interest rates unchanged. Analysts will eagerly hunt for cues for the US economic outlook in the Fed’s accompanying statement.
Labels: Nifty.Sensex
posted by SY at 5:45 PM
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