Markets extend gains, Sensex up 82 pts

MUMBAI: The markets remained positive with the benchmark Sensex closing the day higher by nearly 82 points, though investors looked cautious as fears of a recession in US strengthened and on domestic front many expect further monetary measures to tame the rising inflation.
    
The Bombay Stock Exchange 30-share index settled the day at 15,832.55 points, a net rise of 82.15 points, or 0.52 per cent, over its last close.
    
The key index breached 16K mark to touch the intra-day high of 16,002.73 at mid-session but pared the gains to end lower.
    
The broader 50-share S&P CNX Nifty of the National Stock Exchange also advanced by 17.40 points or 0.37 per cent to close at 4,771.60 from its last close of 4,754.20.
    
Investors looked cautious due to an anticipated negative impact on the companies' fourth quarter earnings from their forex derivative transactions last fiscal after the new accounting norm were introduced, market players said.
    
They said the market drew support from firm Asian cues but increased possibility of a recession in US amid continued credit crisis remained a cause of concern for the market.
    
The market was constantly under pressure because of reports that IMF has hinted a downward revision of its January growth forecast for the US while the Federal Reserve publicly said for the first time on Wednesday that a US recession is possible.
    
Indian bourses, however, underperformed their Asian counterparts. Asian indices ended up 1.0 to 3.0 per cent.
    
Sensex shares such as RIL spurted by 2.14 per cent, Wipro by 5.04 per cent, Infosys Tech by 2.68 per cent, Satyam Comput by 5.11 per cent, TCS by 4.13 per cent and Hind Unilever by 3.20 per cent.
    
BHEL continued its slide for fourth consecutive day with a 5.27 per cent fall today. It's shares fell by 16.13 per cent (Rs 337.50) in four days.
    
The market breadth turned negative as the mid-cap and the small-cap segments showed widespread losses.
    
Meanwhile, Foreign Institutional Investors pulled out Rs 1,188 crore on April 1 and Rs 135.65 crore (provisional) from equity on April 2.
    
The trading volume was low at Rs 4,985.58 crore. Reliance Capital clocked highest turnover of Rs 250.42 crore followed by GSS America (Rs 246.02 crore), BHEL (Rs 219.88 crore), RPL (Rs 198.01 crore) and RIL (Rs 195.68 crore).
    
The broad-based BSE-100 index firmed up by 35.14 points to 8,320.87 from its previous close of 8,285.73.
  
The BSE-200 index and the Dollex-200 were quoted higher at 1,950.17 and 812.17 at close compared to previous close of 1,943.54 and 809.41 respectively. The BSE-500 Index moved up by 14.51 points to 6,203.25 from its last close of 6,188.74 and by 39.45 points to 6,188.74 from its last close of 6,188.74 and the Dollex-30 ended up at 3,251.50 from 3,234.62.
    
RIL spurted by 50.15 to 2393.75, Infosys Tech by 39.70 to 1521.65, TCS by 35.10 to 885.95, Satyam Computer by 20.80 to 428.05, Wipro by 20.90 to 435.30, ONGC by 8.45 to 1019.55, HUL by 7.55 to 243.35, Hindalco by 4.20 to 170.95, Tata Steel by 13.65 to 659.60, DLF by 1.95 to 623.75, HDFC Bank by 4.10 to 1326.45, ICICI Bank by 3.70 to 787.90, Jaipra Asso by 1.10 to 233.40 and Ranbaxy by 1.50 to 446.85.
    
BHEL dropped by 97.55 to 1754.95, L&T by 15.40 to 2850.05, Maruti by 23.95 to 788.30, M&M by 22.50 to 643.75, Tata Motors by 9.10 to 628.70, HDFC by 27.35 to 2442.90, REL by 40.80 to 1189.45, SBI by 13.45 to 1639.10 and Reliance Com by 5.65 to 513.40.