A maturing market amid the mayhem
Sensex rises 1.3 pct, Reliance gains
After mid day, the benchmark touched an intra-day high of 9,120 – a rise of over 2 percent – but pared gains later to close at 8,976. It was the index’s highest close in a month.
The rise was led by gains in heavyweight counters like Reliance Industries, ICICI and BHEL.
Buyers focused on Reliance as the country’s largest listed company prepared to begin pumping gas from its huge field off the east coast and commission all secondary units at its new refinery. The scrip closed 2.4 percent higher.
There was a rally in realty stocks which sent the BSE Realty Index 7.6 percent up. Shares in Akruti City jumped 27.5 percent and DLF gained 7.7 percent.
Top traded stocks on the BSE included Vijaya Bank, Suzlon Energy, Satyam and Reliance Natural Resources.
The Sensex did show some strength today, but was unable to sustain gains in the closing hours of trade. Do you think the index will remain volatile in the coming days?