The market opened on a firm note on positive cues from global markets, with the Sensex surging past 17,000 mark in opening trade. Fall in crude oil prices from record high also lifted the sentiment.
At 10:28 IST, the 30-share BSE Sensex was up 157.50 points or 0.93% at 17,013.18. It opened 147.13 points higher at 17,008.03. The barometer index hit a high of 17,033.83 in early trade. At the day’s high, Sensex 172.93 gained points. Sensex rose 90.05 points at day’s low of 16,951.95 touched in early trade
The broader based S&P CNX Nifty gained 36.75 points or 0.73% at 5,049.20
The market breadth was strong on BSE with 1302 shares advancing as compared to 315 that declined. 27 remained unchanged.
The total turnover on BSE amounted to Rs 912 crore
Among the 30-member Sensex pack, 26 advanced while the rest slipped.
India's largest private sector aluminium manufacturer in terms of sales Hindalco Industries surged 4% to Rs 182 on 1.50 lakh shares. It was the top gainer from Sensex pack.
Jaiprakash Associates (up 3.69% to Rs 255.50), Reliance Infrastructure (up 3.30% to Rs 1401.90), and DLF (up 2.27% to Rs 636), edged higher from Sensex pack.
India’s largest private sector company in terms of market capitalisation and oil refiner Reliance Industries (RIL) was up marginally by 0.06% to Rs 2556 on 81,402 shares.
India’s largest cigarette manufacturer in terms of sales ITC declined 1.35% to Rs 220.80 on 40,109 shares. It was the top loser from Sensex pack.
Bharti Airtel, the country’s largest telecom services provider in terms of market capitalisation slipped 0.91% to Rs 830.60. UAE's Emirates Telecommunications Corp said on Monday, 12 May 2008, it was evaluating a bid for South African telecom firm MTN. This may compel Bharti Airtel to raise its indicative offer, which media reports said valued MTN at about $37 billion.
ONGC (down 0.47% to Rs 1024), and Mahindra & Mahindra (down 0.22% to Rs 661), edged lower from Sensex pack.
Recently listed Aishwarya Telecom jumped 4.09% to Rs 103.10 on high volumes of 86.20 lakh shares.
Among the side counters, MphasiS (up 10% to Rs 242.75), Futura Polyester (up 9.98% to Rs 33.60), and UCO Bank (up 8.84% to Rs 48.15), surged
Asian markets were trading higher barring China’s Shanghai Composite which fell 2.58% at 3,533.54 led on uncertainty following a deadly earthquake in southwest China on Monday, 12 May 2008 and the central bank's announcement of the fourth bank reserve ratio hike this year.
Hang Seng (up 0.66% at 25,227.91), Nikkei 225 Average (up 1.36% at 13,930.77), Straits Times (up 0.28% at 3,189.10), Seoul Composite (up 0.52% at 1,833.21), Taiwan Weighted (up 1.43% at 8,955.96) advanced.
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