Sensex dips below 16,000; global cues, SBI downgrade weigh
A benchmark index for Indian equities Tuesday
pulled up from the day's lows but still closed 289 points lower with
wide-spread selling seen amid negative global cues and a rating
downgrade for the country's largest lender State »
Mumbai: A benchmark
index of Indian equities surged nearly three percent Friday, led
by strong buying support in metal and banking stocks amid positive
cues from global bourses
The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange
(BSE), which opened sharply high at 16,222.49 points, closed at
16,232.54 points, up 440.13 points or 2.79 percent from its
previous close at 15,792.41 points.
The Sensex touched a high of 16,347.48 points and low of 16,148.97
points in the intra-day.
The 50-scrip S&P CNX Nifty of the National Stock Exchange closed
2.83 percent higher at 4,885.70 points.
All the broader markets as well as the sectoral indices also
closed in the positive terrain. The BSE midcap closed 1.37 percent
higher at 5,959.65 points and the smallcap index ended 1.15
percent up at 6,721.00 points.
Metal index surged 5.36 percent at 10,907.84 points, leading the
rally among the BSE sectoral indices. Banking index soared 3.82
percent at 10,342.28 points.
Sterlite Industries and Jindal Steel surged more than 8 percent.
Other major Sensex gainers were: Tata Motors, up 7.73 percent at
Rs.158.80; ICICI Bank, up 5.82 percent at Rs.824.30; DLF, up 5.81
percent at Rs.218.45 and Hindalco Inds, up 4.83 percent at
Only two of the 30 Sensex scrips closed in the red. Bharti Airtel
fell 3.34 percent at Rs.354.80 and HeroMotoCop closed 0.26 percent
down at Rs.1,941.05.
Most other Asian markets advanced for the second straight day on
optimism of the European crisis easing.
Japan's Nikkei rose 0.98 percent at 8,605.62 points and Hong
Kong's Hang Seng index advanced 3.11 percent at 17,707 points.
However, the Chinese Shanghai Composite index closed 0.26 percent
down at 2,359.22 points.
European markets were trading in the negative due to profit
booking after the recent rally.
Britain's FTSE 100 was down 0.21 percent at 5,279.91. German DAX
was ruling 0.45 percent down at 5,619.83 points and French CAC 40
index was down 0.58 percent at 3,057.64 points.