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Sensex rises over 450 points, DLF jumps

July 14, 2009

INDIA-STOCKS/JUMPInvestors breathed a sigh of relief on Tuesday as the Sensex jumped 453 points to 13,854, regaining some ground after losing over 1500 points in the past six sessions.

The stock market took cues from strong global markets and upbeat economic data from some regions.

ICICI Bank rose over 7 percent, Reliance Industries gained 3.6 percent while HDFC ended 7.2 percent higher.

HDFC Bank announced its quarterly numbers on Tuesday and was the only stock in the benchmark to close in the red.

All sectors ended with smart gains with the realty index leading the pack with a 9.3 percent rise. DLF, the top Sensex gainer on Tuesday, was up over 11 percent. Unitech rose 8.6 percent.

Among other sectors, metal and consumer durables indices rose over 5 percent each.

Prominent among mid-caps were SREI Infra (up 20 percent) and 3i Infotech (up 11.4 percent).

Do you think the gains from Tuesday’s rally are sustainable and we can recover further?

Comments

Sensex rally on Tuesday of 453 points was anticipated,and was in line with a global rebound.A rise of 453 points in one trading session is nothing unsual considering a fall of 1,500 points in backdrop.

A sustained rally is a distant development.As dry Monsoon continues to be an anxiety,the rain gods are holding the future course.

Posted by A.Kapoor | Report as abusive
 

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