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Rediff.com  » Business » Sensex closes in on 11K

Sensex closes in on 11K

Last updated on: March 20, 2006 17:20 IST
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The bull-run continues unabated on Dalal Street. The Sensex, after opening with a positive gap of 43 points at 10,903, slipped a wee bit to touch a low of 10,889 in the morning deals.

Fresh buying, mainly in technology and metal stocks, saw the index rally to a high of 10,947. The Sensex finally set a new closing record of 10,941 - up 81 points.

The NSE Nifty closed 32 points up at 3266.

The BSE Metal and Teck indices zoomed 2.3% each to 7783 and 2637, respectively. Most of the other sectoral indices ended on a rather flat note.

The market breadth was fairly negative. Out of 2,585 stocks traded, 1,425 declined, 1,102 advanced and the rest were unchanged today.

Technology stocks witnessed agressive buying towards the closing bell. Wipro surged 4.5% to Rs 544. Infosys rallied 3% to Rs 2,965, and TCS added 2.6% to Rs 1,909. Satyam spurted over 1% to Rs 821.

Grasim gained nearly 2.5% backed by the group's plan to invest $350 million for plantations and a pulp plant in Laos.  Hindalco moved up 1.7% to Rs 162. Tata Steel was up over 1% at Rs 467.

While ITC advanced over 1% to Rs 177, HLL declined nearly 1% to Rs 252.  Cipla gained 1.6% at Rs 589. Dr. Reddy's added 1.2% to Rs 1,364.

HCL Technologies surged 3.2% to Rs 622. Other tech stocks like i-flex, MphasiS BFL and Patni Computers also finished with smart gains.  Among metal stocks, Sesa Goa soared 7% to Rs 1,242. SAIL, Hindustan Zinc, Sterlite, Essar Steel, Gujarat NRE, Jindal Steel and National Aluminium also ended with significant gains today.

Pratibha has appreicated almost 68% from its listing price last Thursday. The stock, which debuted on the bourses at Rs 145 as against the issue price of Rs 120, closed at the 20% upper limit today at Rs 245.

IVRCL surged 6% to Rs 1,290 after the company announced the setting up of a steel fabrication and galvanising unit at Nagpur.

Lyka Labs zoomed to a high of Rs 64.45 after the company announced that it sold its 49% stake in its joint venture Lyka Hetero Healtcare. The stock finally settled with a gain of 4% at Rs 61.

B L Kashyap topped the value chart with a turnover of Rs 187.27 crore followed by Pratibha (Rs 170.88 crore), Zee (Rs 138.52 crore), HLL (Rs 110.57 crore) and Indotech (Rs 79.75 crore).

Reliance Natural Resources led the volume chart with trades of around 1.05 crore shares followed by Pratibha (73.90 lakh), Zee (55.71 lakh), SAIL (45.48 lakh) and HLL (43.85 lakh).

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