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Powerful rally propels Nifty towards 4,400

This article was posted on Jul 17, 2009 and is filed under Market News

Sensex surged by 495 points or 3.5% to end at 14,745 while, Nifty shot up by 157 points or 3.7% to shut shop at 4,375.

The Sensex surged by 495 points or 3.5% to end at 14,745 after touching a high of 14,800 and a low of 14,325. The index had opened at 14,325 against the previous close of 14,250.

The NSE Nifty shot up by 143 points or 3.3% to shut shop at 4,375.

Asian markets ended in the positive terrain. The Nikkei in Japan gained 0.5% at 9,395, Australia’s S&P/ASX ended higher by 0.2% at 4,000. The Hang Seng index rose by 2.5% to 18,805.

In Europe, stocks were trading in the green. The FTSE in the UK was up 0.8% at 4,397. The DAX rose 1% at 5,000 and the CAC 40 gained 0.8% at 3,225.

Coming back to India, among the BSE sectoral indices, the BSE Auto index was the top gainer, surging by an impressive 5.5%, followed by the BSE Bankex index that was up 5%. The BSE Realty index rose 4.4% and BSE Teck index was up 4.4%.

The BSE Mid-Cap index jumped 2.5% and the BSE Small-Cap index rose 2.6%.

Within the Sensex, the major gainers were Reliance Infra, M&M, JP Associates, ICICI Bank, Tata Motors, Hero Honda, Hindalco and ITC. Among the major losers were, Sterlite, NTPC and Reliance Industries.

Outside the frontline indices, the top gainers included HCL Tech, Exide Ind, Petronet LNG, NMDC, Fortis Health, Rolta and Max India.

Among the big losers in the broader market were Biocon, Opto Circuit, Glaxo, Piramal Health, Nestle and Marico.

source: Indiainfoline

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