Business Daily from THE HINDU group of publications
Tuesday, Dec 25, 2007
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Tuesday, Dec 25, 2007 ePaper | Mobile/PDA Version |
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Stock Markets Markets - Stock Markets Our Bureau Mumbai, Dec. 24 Strong global clues brought cheer to the stock markets with the Sensex recording its highest single day gain in the past one month. The index closed at 19,854.12, up by 691.55 points or 3.61 per cent. The broader S&P CNX Nifty rose by 3.16 per cent, closing at 5,985.10. “Mainly it was the positive global cues that pushed up our markets today. The US markets closed higher on Friday, which had a positive impact on Asian markets, including ours,” said Mr Pankaj Bhansali of broking firm Religare. Though analysts were not all agreed on whether the Modi factor boosted market sentiment, most of the Gujarat-based companies’ stocks gained on Monday. “After the Gujarat polls there is perhaps a certain sense of comfort that there will be political stability at the Centre as the Congress is unlikely to go for a general election soon,” said a senior analyst with a research house. “There was all-round buying happening as the futures expiry date is nearing. As a result, the markets were buoyant today as people are expecting positive rollovers,” said Ms Anita Gandhi, Head of Institutional Business, Arihant Capital Markets Ltd. The market breadth was positive on BSE with 1,966 stocks advancing and 941 stocks declining. All the sectoral indices ended the day in green. The top two index gainers were BSE-IT, which went up by 6.04 per cent, and BSE-TECk, which rose 4.9 per cent. FIIs were net buyers for Rs 175.78 crore and domestic institutions net buyers for Rs 332.65 crore. Stock market and global cues Sensex slips further in volatile trading Global cues aid market recovery; banks shine Last week of 2007 may end on positive note More Stories on : Stock Markets | Stock Markets
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