Sensex crosses 21,000 barrier; up 60 points

MUMBAI — The market posted modest gains in volatile trading. The market had slipped into the red at one point of time in mid-morning trade, coming off sharply from a record high which it had hit at the onset of the trading session. It had recovered from lower level later.

By Our Correspondent (Bombay Stock Exchange)

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Published: Wed 9 Jan 2008, 8:59 AM

Last updated: Sun 5 Apr 2015, 12:28 PM

The market breadth was quite weak. Healthcare, metal, consumer durable and auto stocks declined. IT stocks rose. Reliance Industries edged higher. European markets, which opened after Indian market, were firm. Asian markets, which opened before Indian market, were mixed. The Dow industrials and the S&P 500 rose on Monday.

The 30-share BSE Sensex rose 60.68 points or 0.29 per cent to 20,873.33, a record closing high. Sensex had surged to a record high of 21,077.53 in early trade. At day's high Sensex had risen 264.88 points. Sensex hit a low of 20,696.60. At day's low, Sensex had lost 116.05 points.

Bharti Airtel (up 4.01per cent to Rs 974.15), HDFC Bank (up 3.58per cent to Rs 1,716.30), and State Bank of India (up 2.59per cent to Rs 2,465.25) surged.

India's largest private sector firm by market capitalisation and oil refiner Reliance Industries was up 1.16per cent to Rs 3,050.50, off session's high of Rs 3083.

India's largest private sector bank by assets ICICI Bank fell 2.23per cent to Rs 1,333.50. Reliance Natural Resources rose 7.15per cent to Rs 244.15, on huge volume of 4.23 crore shares on BSE. Consumer durables stocks declined. Videocon Industries (down 3.9 per cent to Rs 699.30),Titan Industries (down 3.9 per cent to Rs 1,601.55) and Blue Star (down 1.34 per cent to Rs 515.45) edged lower.

Metal stocks declined. Tata Steel (down 3.66per cent to Rs 891.80), Sterlite Industries (down 2.95per cent to Rs 1,034.75), Steel Authority of India (down 2.93per cent to Rs 263.10), Hindalco Industries (down 3.78per cent to Rs 208.95) and National Aluminium Company (down 4.74per cent to Rs 500.50) edged lower.

IT stocks rose. India's second largest IT exporter by sales Infosys rose 1.47 per cent to Rs1,662.15. Wipro (up 0.94per cent to Rs487.90) and Tata Consultancy Services (up 1.48 per cent to Rs 990.55) edged higher.

Satyam Computer Services, India's fourth-biggest software exporter in terms of sales rose 2.67per cent to Rs 424.50 after it, said on Monday, it had received a major contract from the Irish Further Education and Training Awards Council.

India's biggest power equipment maker by revenue, Bharat Heavy Electricals (Bhel), declined 0.59 per cent to Rs 2,494.30 after the company signed a joint venture agreement with NTPC for establishment and operation of a joint venture company for taking up engineering, procurement and construction business.

Healthcare stocks declined. Cipla (down 1.3 per cent to Rs 209.15), Dr. Reddy's Laboratories (down 1.35 per cent to Rs702.60), Fortis Healthcare (down 6.73 per cent to Rs 110.25), Ranbaxy Laboratories (down 0.57 per cent to Rs418.50) edged lower.

Auto stocks declined. Tata Motors (down 1.56 per cent to Rs 774.20), Maruti Suzuki India (down 2.43 per cent to Rs 939.65), Hero Honda Motors (down 1.79 per cent to Rs 690.10) edged lower. Bajaj Auto rose 0.1 per cent to Rs 2,538.05.

India's second largest power utility by revenue Reliance Energy declined 1.86 per cent to Rs2,536. Reliance Energy and the infrastructure major GMR Infrastructure are the only Indian firms shortlisted for buying the $2 billion Tuas Power, owned by Singaporeís state investor Temasek Holdings.

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