The stock market today staged a comeback after yesterday's brief pause, with the BSE benchmark Sensex gaining 170.16 points to end at a six-week high driven by fresh bouts of buying by funds.
MUMBAI: The stock market today staged a comeback after yesterday's brief pause, with the BSE benchmark Sensex gaining 170.16 points to end at a six-week high driven by fresh bouts of buying by funds.
The market was backed by strong quarterly economic growth and robust corporate performance, which pushed up direct tax collection by 42 per cent in the first five months of the current financial year.
The Bombay Stock Exchange barometer initially reacted negatively to weak Asian trend and touched a low of 15,350.18 but later recovered smartly on emergence of buying support.
An impressive turnaround from initial weakness in Asian indices and firm start in European bourses also had a sentimental impact on domestic market.
The key index ended the day at 15,616.31, a net rise of 1.1 per cent over yesterday's close of 15,446.15.
Similarly, the broad-based S&P CNX Nifty of the National Stock Exchange (NSE) gained 42.75 points or 0.96 per cent to close at 4,518.60 from previous day's close of 4,475.85 points.
Foreign Institutional Investors (FIIs) have turned active so far in the month after a massive pull out during August and reported inflows of Rs 2,172 crore in equity in the last four days since August 31.
Impressed by a better-than-expected 9.3 per cent GDP growth in the first quarter of this fiscal, FIIs have remained sustained net buyers and have heavily covered short positions in the derivatives, market players said.
Cement stocks remained in the limelight following strong dispatches during August.
The rally was so widespread that all indices including sectorial and dollex, registered gains.
Meanwhile, a fresh US housing slump spreading into the job market and slow down in consumer spending revived concerns about the health of the world's biggest economy and caused a temporary pressure in Asian markets this morning.
The market breadth was positive with 1,684 gainers against 1,014 losers at close on the BSE.
The trading volume, however, fell sharply to Rs 4,670.89 crore from Rs 5,167.23 crore yesterday. IVRCL Infra clocked highest turnover of Rs 132.70 crore followed by REL (Rs 125.10 crore), SBI (Rs 105.17 crore), India Bulls (Rs 104.49 crore) and GMR Infra (Rs 102.65 crore).
The broad-based BSE-100 index spurted by 85.11 points to 8,030.81 from previous close of 7,945.70.
The BSE-200 index and the Dollex-200 were quoted higher at 1,901.55 and 779.20 at close compared to previous close of 1,881.65 and 771.04 respectively. The BSE-500 index firmed up by 62.84 points to 6,100.20 from last close of 6,037.36 and the Dollex-30 ended up at 3,155.54 from 3,121.16.
RIL shot up by 25.85 to 1983.30, SBI by 37.40 to 1631.85, Grasim by 121.20 to 3177.35, HDFC by 57.95 to 2111.05, ACC by 19.80 to 1102.20, REL by 37.05 to 860.40, HDFC Bank by 11.40 to 1185.30, Hind Unilever by 3.90 to 216.35, Infosys Tech by 6.30 to 1903.30, L&T by 10.05 to 2598.85, Mah&Mah by 12.20 to 722.15, ONGC by 5.60 to 837.05, Tata Steel by 8.95 to 692.55, Wipro by 5.15 to 477.95, Tata Motor by 13.55 to 711.80, Bajaj Auto by 26.30 to 2333.05, ICICI Bank by 5.80 to 920.55, ITC Ltd by 3.60 to 174.65, Maruti Udyog by 8.75 to 881.80, Ranbaxy
Lab by 14.10 to 414.05 and Satyam Computer by 4.00 to 452.50.
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