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Home > Business > Market Report
Sensex spurts 65 points at close
June 24, 2004 16:26 IST
The Sensex opened 13 points higher over its yesterday's close at 4,657. While stock-specific activity saw the markets witnessed a steady range of movement in mid-morning deals, the index, however, slipped into the red thereafter to display weak trends till early noon deals.
After touching an intra-day low of 4,614, the markets steadily reverted back into the green following the commencement of fresh buying. Strong gains led by heavyweight, PSU and tech pivotals triggered the rally, which saw the index surge above the 4,700-mark to an intra-day high of 4,718.
The Sensex, after an intra-day movement of 104 points, finally signed-off the session with a gain of 65 points at 4,709. The Nifty also ended firm with a surge of 25 points at 1,471.
While 21 Sensex stocks advanced, nine declined today. Advancing shares accounted for a volume of 3.35 crore for Rs 1,316.68 crore, and declining shares registered a volume of 68 lakh amounting to Rs 137.22 crore.
Heavyweight, PSU and tech majors attracted considerable buying support.
Reliance, on news of gas-find off the Orissa coast, and buyout of an Frankfurt-based polyster firm, surged 2.86% (Rs 12) to Rs 423.
ITC gained 1.36% (Rs 11) to Rs 858. However, a report in PTI today said that Indian public, banks and FIs together have cut their expousure in the cigarrete major by 5.32%. HLL was up nearly 2% (Rs 2) at Rs 130.
SBI mopped up 3.35% gains (Rs 14) to Rs 423. While ONGC moved up 3.23% (Rs 20) to Rs 636, BHEL gained 2.74% (Rs 13) to Rs 497.
MTNL, however, witnessed relentless selling pressure today, and tanked 8.14% (Rs 10) to Rs 118. HPCL closed down a tad at Rs 309.
Infosys added 1.51% (Rs 81) to Rs 5,406. Satyam accelerated by 5.61% (Rs 16) to Rs 302. Wipro, too, rose sharply on strong buying support, and scaled up 3.22% (Rs 49) to Rs 1,585.
Auto, cement and pharma pivotals, too, had a decent outing today.
Maruti notched up 4.65% gains (Rs 17) to Rs 382. Hero Honda accelerated by 3.58% (Rs 17) to Rs 486. While Tata Motors closed up a rupee at Rs 372, Bajaj was down a per cent (Rs 8) at Rs 892.
Gujarat Ambuja advanced 3% (Rs 8) to Rs 266. While ACC, too, moved up 3% (Rs 7) to Rs 236, Grasim slipped a per cent (Rs 6) to close at Rs 919.
Cipla added 4.27% (Rs 8) to Rs 204. Ranbaxy also attracted buying support, and moved up 1.94% (Rs 17) to Rs 905. Dr. Reddy's, however, lost 2.29% (Rs 17) to Rs 718.
HDFC Bank rose 4.61% (Rs 17) to Rs 382. Reliance Energy jumped 2.35% (Rs 13) to Rs 551. Tisco was up 1.76% (Rs 5) at Rs 275.
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