Monday, March 24, 2008

Market closes strong

The BSE Sensex wrapped the day with a gain of 294.57 points, or 1.96%, at 15,289.40; while the broad-based NSE Nifty closed at 4,609.85, up 35.9 points, or 0.78%.

The 30-share index Sensex opened with a positive gap of 98.94 points at 15,093.77 following global cues. The index in the initial hours of trading gained strength on account of sustained buying interest in frontline stocks.

Accordingly, the index shed most of its points in the noon trades, later it recovered and re-gained all its ground. The Sensex before one hour of the close, marched ahead, touching an intraday high of 15, 351.31, to finally close on a strong note.

Global Cues

Asian stocks closed positive on Monday (Mar. 24, 2008) after Ma Ying-jeou`s won the Taiwan election, ending the pro-independence Democratic Progressive Party`s rule. Investors further gained confidence after Nissan Motor forecasted higher sales.

Market statistics

Out of the total 2,717 stocks traded at the BSE, 535 advanced, 2,149 declined while 33 remained unchanged.

Among the sectoral indices at BSE Bankex surged 3.32%, BSE IT moved up 1.55%, while Metal plunged 5.27%, BSE Realty dropped 3.97%, BSE Power declined 0.71%.

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