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All round buying lifts market

This article was posted on Dec 30, 2008 and is filed under Market News

Sensex ended at 9,716 gaining 182 points and the NSE Nifty index ended at 2,979 advancing 57 points. nBulls extended gains to second straight trading session on Tuesday. Firm cues from the Asian markets coupled with buying witnessed in the scrips across the sectors lifted the bourses higher. Sentiments were further boosted after equity markets across Europe started off with smart gains.

The BSE benchmark Sensex finally ended at 9,716 gaining 182 points and the NSE Nifty index ended at 2,979 advancing 57 points.All the BSE Sectoral indices ended in the positive terrain with BSE Realty index (up 3.5%), BSE Auto index (up 3%), BSE Capital Goods index (up 3%) and BSE IT index (up 2.5%). Market breath was positive, 1,644 stocks advanced against 810 declines, while, 82 stocks remained unchanged. Among the 30-components of Sensex, 29 stocks were in the green and only 1 stock ended in the negative terrain. L&T, ICICI Bank, RCom and Satyam were among the major gainers. While, Grasim was the only loser.

Biocon (down 5%), MMTC (down 4%), Phoenix Mills (down 3.5%) and Educomp (down 2.5%) ended on the losing side. GSPL, Future Cap, Sun TV, GMDC, GE Ship, LITL, Idea, Mphasis, RCom and Voltas were the other top gainers, rising by 7-9%.

Shares of RCom surged by over 7% to Rs228 after the company announced that it repurchased 250, Zero Coupon FCCBs each of US $ 1,00,000 aggregating to US$25mn at a discount of 52.5% and has extinguished the same on December 29, 2008. The scrip touched an intra-day high of Rs231 and a low of Rs214 and recorded volumes of over 67,00,000 shares on BSE.

Shares of Essar Oil surged by over 2% to Rs88 after reports stated that the refiner plans to spend US$140mn over the next four years to expand. The scrip touched an intra-day high of Rs91 and a low of Rs87 and recorded volumes of over 7,00,000 shares on BSE.Shares of Pyramid Saimira was locked at 5% lower circuit to Rs42.4 after 5.2% equity shares changed hands in 6 deals on BSE. The scrip has touched an intra-day high of Rs43.4 and a low of Rs42.4 and has recorded volumes of over 11,00,000 shares on BSE.

Shares of Bajaj Hindustan rose over 3% to Rs66 after 28.2% equity changed hands in two deals on the BSE. The scrip has touched an intra-day high of Rs67 and a low of Rs63 and has recorded volumes of over 4,00,00,000 shares on BSE.

source: Indiainfoline

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