Money on the markets
A maturing market amid the mayhem
The benchmark’s rise was led by Infosys Technologies, ONGC and Tata Steel, which were up in the range 2-6 percent.
Tata Motors stood out with a near 10 percent rise.
The auto index outperformed the other sectoral indices with gains of over 5 percent. Bharat Forge jumped over 14 percent, Amtek Auto gained 10.8 percent and Maruti Suzuki ended 6.3 percent higher.
The realty index ended 4.2 percent higher, while the metal index gained 2.4 percent. Prominent gainers in these sectors were and DLF and Tata Steel which gained over 6 percent each.
The Nifty index rallied 122 points to close above the 4,200 mark.
Reliance Industries led the benchmark’s rise with a 3.5 percent jump. L&T’s rise of 4.1 percent also gave support.
The stock market took cues from strong global markets and upbeat economic data from some regions.
Weak Asian and European markets also weighed on sentiments.
Losses in heavyweight stocks like ICICI Bank, Reliance Industries and Bharti Airtel dragged the benchmark lower by over 300 points.
The benchmark was dragged lower by heavyweights Bharti Airtel, Reliance Industries and ICICI Bank.
An over 1 percent loss in Reliance Industries and a 3.4 percent loss in ONGC led the benchmark lower to close at 12,020 points.
The BSE Sensex today crossed the psychological mark of 10,000 and ended 446 points higher, its best close in nearly five months, guided by strong Asian and European markets.
The benchmark index ended at 10,348.83, while the 50-share Nifty ended 150.7 points higher at 3,211.05.
Reliance Industries surged more than 5 per cent on reports the company has started pumping gas from the KG basin, which at full throttle will nearly double India’s gas output.
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.