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Mumbai: A benchmark
index for Indian equities markets regained the psychological
16,000-point mark and closed 274 points higher Thursday, led by a
rally in oil and banking stocks while the rupee recovered part of
its lost ground.
The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange
(BSE), which opened in the positive at 16,033.90 points, ended the
day at 16,222.30 points, up 1.72 percent or 274.20 points from its
previous close at 15,948.10 points.
The Sensex touched a high of 16,252.37 points and a low of
15,934.77 points in the intra-day trade.
The wider 50-scrip S&P CNX Nifty of the National Stock Exchange
rallied 1.77 percent to close at 4,921.40 points.
A recovery in the value of rupee and Wednesday's hike in petrol
price by oil marketing companies boosted sentiments in the
markets.
Rupee strengthened to 55.86 against a US dollar after hitting a
new record low of 56.38.
Recoveries in the markets and rupee follow the oil marketing
companies decision to hike petrol price by around Rs.7.5 per
litre.
Oil and Natural Gas Corporation stocks surged 5.74 percent at
Rs.256.95.
Bharti Airtel surged 5.62 percent to Rs.297.80 after it announced
acquisition of 49 percent stake in Qualcomm's 4G broadband
venture.
Other major Sensex gainers were: HDFC, up 4.38 percent at
Rs.662.55; Jindal Steel, up 3.46 percent at Rs.468.60; HDFC Bank,
up 3.06 percent at Rs.501.90; and ICICI Bank, up 3.04 percent at
Rs.819.90.
Only six of the 30 Sensex scrips closed in the red. Maruti Suzuki,
fell 0.53 percent at Rs.1145.20; TCS, down 0.34 percent at
Rs.1221.35; BHEL, down 0.26 percent at Rs.208.25; and Sun Pharma,
down 0.25 percent at Rs.569.95.
Banking index of the BSE rallied 2.33 percent and oil and gas
index rose 1.98 percent.
All the sectoral indices of the Bombay Stock Exchange closed in
the positive.
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