Fantastic close for markets
A rally in global markets and reports that India’s monsoon will be good this year, boosted the bourses. Nifty hit the 4000 level and the Sensex struck its highest level in a month & a half. Index heavyweight Reliance Industries (RIL) struck an all-time high, aiding the surge in key indices.
Sensex closed up 311.50 points or 2.33% at 13695.58, and the Nifty up 96.00 points or 2.45% at 4013.35.
Tata Steel jumped 4.4% to Rs 534, ahead of its board meeting on 17 April 2007, to consider the proposal for raising equity funds to finance its investment in a special purpose vehicle (SPV) for the acquisition of Corus Group.
FMCG giant Hindustan Lever (HLL) gained 3% to Rs 213.70, on reports that the annual June-September monsoon rains were expected to be close to 100% of the long-term average this year. The Meteorological Department is likely to announce its first official forecast for 2007, later this week.
Buying was also conspicuous in cement shares, which are closely linked to rural demand. ACC gained 4.7% to Rs 783.90, Grasim rose 3.8% to Rs 2375 and Gujarat Ambuja Cements advanced 3.5% to Rs 112.40.Reliance Industries (RIL) rose 3.7% to Rs 1464.Oil exploration major ONGC surged 3.6% to Rs 903.75. IT shares extended Friday’s gains. Wipro gained 3.5% to Rs 587.50, Infosys rose 1.9% to Rs 2127 and i-flex solutions gained 4% to Rs 2336. Infosys, on Friday (13 April), gave a strong guidance for FY 2008 in dollar terms.TCS rose 1.2% to Rs 1279, ahead of its Q4 results due later today.Cigarette major ITC rose 3.3% to Rs 158, on reports that the FMCG giant plans to invest about Rs 15,000 crore in the next 5 - 7 years in hotels, agri-business and FMCG to transform itself into a diversified corporate conglomerate.
Telecom shares rose on continued strong growth in new subscriptions in March 2007. Bharti Airtel gained 2.8% to Rs 803, and Reliance Communications added 3.6% to Rs 436.70.
Sensex closed up 311.50 points or 2.33% at 13695.58, and the Nifty up 96.00 points or 2.45% at 4013.35.
Tata Steel jumped 4.4% to Rs 534, ahead of its board meeting on 17 April 2007, to consider the proposal for raising equity funds to finance its investment in a special purpose vehicle (SPV) for the acquisition of Corus Group.
FMCG giant Hindustan Lever (HLL) gained 3% to Rs 213.70, on reports that the annual June-September monsoon rains were expected to be close to 100% of the long-term average this year. The Meteorological Department is likely to announce its first official forecast for 2007, later this week.
Buying was also conspicuous in cement shares, which are closely linked to rural demand. ACC gained 4.7% to Rs 783.90, Grasim rose 3.8% to Rs 2375 and Gujarat Ambuja Cements advanced 3.5% to Rs 112.40.Reliance Industries (RIL) rose 3.7% to Rs 1464.Oil exploration major ONGC surged 3.6% to Rs 903.75. IT shares extended Friday’s gains. Wipro gained 3.5% to Rs 587.50, Infosys rose 1.9% to Rs 2127 and i-flex solutions gained 4% to Rs 2336. Infosys, on Friday (13 April), gave a strong guidance for FY 2008 in dollar terms.TCS rose 1.2% to Rs 1279, ahead of its Q4 results due later today.Cigarette major ITC rose 3.3% to Rs 158, on reports that the FMCG giant plans to invest about Rs 15,000 crore in the next 5 - 7 years in hotels, agri-business and FMCG to transform itself into a diversified corporate conglomerate.
Telecom shares rose on continued strong growth in new subscriptions in March 2007. Bharti Airtel gained 2.8% to Rs 803, and Reliance Communications added 3.6% to Rs 436.70.
Labels: Nifty.Sensex
posted by SY at 4:19 PM
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