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Home  » Business » Bulls roar: Sensex surges 335 points

Bulls roar: Sensex surges 335 points

By BS Reporter in Mumbai
Last updated on: March 26, 2009 16:38 IST
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Sensex reclaims 10,000-mark amid heavy short-squeeze, up 24% in three weeks; L&T, BHEL, Sterlite and TCS surge 6%.

The Sensex opened 72 points higher at 9,740 amid positive global cues. Steady buying at the capital goods counters helped the index move higher as the day progressed. Realty stocks, however, witnessed profit-taking.

Heavy short-squeeze towards the close, in select index heavyweights owing to the March derivatives expiry, saw the index zoom past the 10,000-mark, a level last seen on January 7, to a high of 10,061 - up 393 points from the previous close.

The Sensex eventually ended with a gain of 335 points at 10,003. In the process, the index has gained 11.5% (1,036 points) so far this week, and is up a whopping 24.3% (1,956 points) from its recent low of 8,047 touched on March 6.

Also read: Reliance biggest contributor in Sensex rally

The BSE Capital Goods index surged 5.4% to 6,425. The Power and Metal indexes rallied 4% each to 1,883 and 5,827, respectively. The Realty index, however, dropped 4.5% to 1,615 - mainly on account of Akruti City.

The NSE Nifty ended 98 points higher at 3,082.

INDEX MOVERS...

Tata Motors zoomed 8% to Rs 173.

Larsen & Toubro, Sterlite, TCS and BHEL soared around 6% each to Rs 661, Rs 368, Rs 557 and Rs 1,570, respectively.

Tata Power and ONGC surged 5.5% each to Rs 781 and Rs 805, respectively.

Maruti, Wipro, Tata Steel, Bharti Airtel and Reliance Infrastructure rallied 5% each to Rs 771, Rs 255, Rs 205, Rs 620 and Rs 564, respectively.

Hindalco moved up 4.7% to Rs 52. ITC and SBI gained over 4% each at Rs 185 and Rs 1,094, respectively.

HDFC advanced 3.5% to Rs 1,653. Grasim and Infosys were up 3% each at Rs 1,600 and Rs 1,381, respectively.

...AND THE SHAKER

Ranbaxy down 3% at Rs 158 was the only notable loser among the index stocks.

OTHER PROMINENT GAINERS...

Crompton Greaves zoomed 14% to Rs 121. Lanco Infrastructure, Sesa Goa, Aban Offshore, PTC India, Unitech, Yes Bank, Bank of India, IVRCL Infrastructure, Jet Airways, Mphasis and Hindustan Copper surged 7-12% each.

...AND THE LOSERS

Akruti City slumped 55% to Rs 819. Rei Agro, Spice Telecom, Jai Corp, Indiabulls Realestate, United Spirits, Piramal Healthcare and Indiabulls declined 3-6% each.

VALUE & VOLUME TOPPERS

Akruti City topped the value chart with a turnover of Rs 545.50 crore followed by Reliance (Rs 370.53 crore), Motherson Sumi (Rs 206.66 crore), ICICI Bank (Rs 163.50 crore) and Reliance Infrastructure (Rs 135.80 crore).

Unitech led the volume chart with trades of around 3.71 crore shares followed by Motherson Sumi (3.43 crore), Cals Refineries (1.75 crore), GVK Power (1.10 crore) and IFCI (95.80 lakh).

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BS Reporter in Mumbai
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