Market ends higher; Sensex up 58 points

MUMBAI — Though the market ended in the green, it came off higher level as index heavyweight Reliance Industries slipped. Volatility on the bourses was high yesterday. ICICI Bank edged higher. Cipla surged.

By Our Correspondent

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Published: Fri 7 Dec 2007, 9:53 AM

Last updated: Sat 4 Apr 2015, 9:34 PM

Consumer durables stocks dwindled. Realty stocks were the star performers in yesterday's trade. Market breadth was strong. 18 out of 30 stocks from the Sensex pack were in green. European markets, which opened after Indian markets, were trading firm. Key Asian indices, except China, were in green.

The 30-share BSE Sensex rose 57.80 points or 0.29 per cent to 19,795.87. Sensex hit a low of 19,716.57 in late trade. At day's low, Sensex had shed 21.50 points for the day. Sensex had hit a high of 20,064.31 in early trade. At day's high, Sensex had gained 326.24 points.

Sensex had hit all-time high of 20,238.16 on 30 October 2007 but was not able to sustain at higher levels and it is yet to close above the physcological 20,000 level. The Sensex's all time closing high is 19,977.67 on October 29, 2007.

India's largest private sector firm by market capitalisation and oil refiner Reliance Industries fell 0.97 per cent to Rs2874.55, off day's high of Rs2955. The company and Kuwait Petroleum (KPC), the national oil major of Kuwait, have reportedly begun the first round of discussions for scripting a mega joint collaboration across the oil and gas vertical. KPC is keen to rope in RIL as a partner in its upcoming projects in Kuwait in both refining and petrochemicals.

India's largest private sector bank by assets ICICI Bank rose 3.24 per cent to Rs1199.30.

Centurion Bank of Punjab jumped 7.73 per cent to Rs48.80, Canara Bank soared 3.25 per cent to Rs300, Oriental Bank of Commerce gained 0.99 per cent to Rs270.55 and State Bank of India rose 0.55 per cent to Rs2396.60.

Consumer durables stocks fell sharply. Videocon Industries slumped 6.73 per cent to Rs572, Gitanjali Gems fell 2.15 per cent to Rs446.10, Titan Industries declined 1.55 per cent to Rs1565.40, and Blue Star shed 1.16 per cent to Rs469.05.

The BSE IT index rose 0.83 per cent to 4,267.15. It outperformed the Sensex. India's second largest software exporter Infosys Technologies gained 1.97 per cent to Rs1634.90.

Patni Computers gained 1 per cent to Rs328.95, and TCS rose 0.25 per cent to Rs1034.20. However, Wipro fell 1.12 per cent to Rs493.40 and Satyam Computers declined 0.44 per cent to Rs436.80.

Reliance Energy jumped 3.13 per cent to Rs1946.60, Gujarat Industries Power gained 1.67 per cent to Rs112.30, and NTPC rose 0.35 per cent to Rs245. Tata Power was steady at Rs1311.05.

Power generation and supply firm GVK Power & Infrastructure surged 6.17 per cent to Rs840.90 after its board approved a 10-for-1 stock split.

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