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07-10-2010, 10:26 AM #1
Sensex ends 181 points higher, Bharti soars 9.7%The Indian markets closed near the day's high with gains of over 1 per cent to end the week on a positive note. The BSE Sensex closed at 17,833 up 181 points and the NSE Nifty ended at 5,352 up 55 points. For the week, the Sensex gained 2.15 per cent and the Nifty added 2.19 per cent (provisional).
The Dalal Street tracked the global markets that rose following an upbeat mood on the Wall Street. The number of jobless claims dropped in the US. Investors took to buying stocks sensing the revival in the world's biggest economy was on track.
FMCG was the only sector that saw selling pressure in today's session. Investors dumped defensive stocks like HUL (down 1.26 per cent) in favour of high beta stocks like DLF (up 4.73 per cent) and Hindalco (up 2.52 per cent).
The BSE realty index rose 2.48 per cent followed by Teck and metal stocks. The small cap index underperformed with gains of 0.38 per cent. Mid caps rose 0.90 per cent. Overall, 52 per cent stocks advanced on the BSE indicating that the market breadth continued to be positive.
For the week (provisional), the Teck index rose 5.8 per cent, consumer durables 5.4 per cent and the IT index gained 4.5 per cent.
On the Sensex, 22 stocks advanced against 8 declines. Bharti Airtel was the top gainer up 9.70 per cent. According to reports, Singapore's Singtel bought 15.88 lakh shares of Bharti from open market.
HDFC Bank added 3.09 per cent and Reliance Comm gained 2.82 per cent. ACC, Reliance Infra and TCS declined.
Telecom stocks were the flavour of the day after Credit Suisse's report stated that concerns on 3G auction fee was overstated and upgraded telecom stocks. Idea Cellular rose 13.31 per cent. Tata Teleservices gained 5.54 per cent.
Sugar stocks surged on expectations of a decontrol. Dwarikesh Sugar rose 11.59 per cent, Bajaj Hindustan gained 4.84 per cent, Balrampur Chini added 3.87 per cent and Shree Renuka advanced 3.12 per cent.
Among news driven stocks, Steel Strips Wheels rose 9.86 per cent. The company received an order from Audi for exports in Germany.
HCL Infosystems gained 1.59 per cent. The company has bought 60 per cent stake in Dubai based NTS. Titagarh Wagons gained 2.37 per cent. The company has got approval for acquisition of a French company. Petronet LNG rose 4.27 per cent. Citi has upgraded the stock to buy....being a human...