Tuesday, November 27, 2007

Market closes on a strong note

The 30-share BSE Sensex opened positive at 19,171.25 and proceeded to trade strong throughout the day. Heavy buying was witnessed in pivotal stocks across board. The index was rangebound. Finally, the Sensex ended the day on a strong note by touching an intraday high of 19,360.23.

BSE Sensex closed with a hefty gain of 394.67 points, or 2.09%, at 19,247.54 while the broad-based NSE Nifty closed at 5,735.20, up 126.6 points.

The BSE Midcap gained 1.89% while BSE Smallcap gained 1.69%.

Out of the total 2,865 stocks traded at the BSE, 1,820 advanced, 986 declined, while 59 remained unchanged.

Amongst the sectoral indices, BSE Auto rose 0.74%, BSE Bankex rose 1.70%, BSE Realty gained 3.05%, BSE IT gained 2.02%, BSE Metal gained 5.61% and BSE Power rose 2.20%.

Global Markets

Asian markets advanced the most in nine weeks on Monday (Nov. 26, 2007) after the U.S. retail sales jumped, raising the prospects for exports to the region`s biggest overseas market.

Movers and Shakers

Gainers at the BSE Sensex include HDFC Bank, which rose 5.18% to close at Rs 1,643.70, followed by Bharti Airtel, which rose 3.78% to Rs 948.00, and Reliance Energy rose 3.74% to end the day at Rs 1,789.55. Tata Steel, ONGC, Hindalco, Grasim, DLF, TCS and RIL also moved up.

Laggards at the BSE Sensex were Tata Motors, which declined 0.62% to close at Rs 710.20 and SBI shed 0.40% to finish at Rs 2,242.25.

Top Volumes

Reliance Petroleum topped the volume chart with 24,663,272 shares followed by Ispat Industries with 15,652,025 shares and Neyveli Lignite with 6,621,917 shares. GMR Infrastructure, Power Grid, MRPL and IDFC were amongst the other gainers.

Top Turnover

Reliance Petroleum topped the turnover chart with Rs 5,167.9 million, followed by Jindal Steel with Rs 3,128 million.

New Listing

Shares of Chennai- based Empee Distilleries, a manufacturer of Indian made foreign liquor, after listing on bourses today, settled at 20.52% premium on the Bombay Stock Exchange (BSE).

The shares opened at an issue price of Rs 400 a share. It touched a high of Rs 489 and a low of Rs 301. Shares finally closed at a discount of Rs 82.1, or 20.52%, at Rs 317.90. Total volume of shares traded was 5,125,457.

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