Markets ends with strong gains on end of week

The markets ended the day on a strong note with buying seen in scrips across sectors. Capital goods, banking, IT, cement and sugar stocks were among the top gainers.

Sensex was up 145.94 points or 1.01% at 14650.51, and the Nifty up 36.30 points or 0.85% at 4318.3.

Reliance Energy (REL) surged 5.63% to Rs 613.25.REL’s wholly owned subsidiary Rosa Power Supply, on 26 June 2007 tied up long-term loans of around Rs 2,000 crore for the first stage of its 600 meg watt (MW) power project.

Housing Development Finance Corporation (HDFC) jumped 3.27% to Rs 2022.50, after it received Rs 445 crore for its stake sale in BPO firm Intelenet to Blackstone, which has resulted in a total capital gain of Rs 381 crore on its BPO venture. The stock surged to an all time high of Rs 2039, in intra-day trade.

State-run banking major State Bank of India (SBI) vaulted 3.89% to Rs 1527.50, after striking an all time high of Rs 1531 in intra-day trade.Bhel (up 3.50% to Rs 1541) and L&T (up 1.49% to Rs 2186), advanced from the capital goods pack.Cement major ACC (up 3.58% to Rs 931.05), and Grasim (up 0.32% to Rs 2632) advanced.Index heavyweight Reliance Industries was up 0.46% to Rs 1700.