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Rediff News  All News  » Business » Fed Effect: Sensex gains 161 points; Satyam up 5%

Fed Effect: Sensex gains 161 points; Satyam up 5%

March 19, 2008 17:25 IST
The Sensex opened with a bang at 15,326 - up 493 points - on positive cues from the global markets after the US Fed cut interest rates by 75 basis points. The index touched a high of 15,467 in opening trades.

Profit-taking saw the index pare gains as the day progressed, and dropped to a low of 14,930 - down 537 points from the day's high in late noon trades. The Sensex finally ended with a gain of 161 points at 14,995.

The index thus ended the holiday-shortened week with a loss of 766 points. The markets are closed on Thursday and Friday.

The market breadth was fairly negative - out of 2,749 stocks traded, 1,919 declined and 764 advanced on Wednesday.

The NSE Nifty touched a high of 4,718, but settled with a gain of 41 points at 4,574. The index was down 172 points for the week.

Index movers

Satyam and Tata Motors surged over 5% each to Rs 390 and Rs 650, respectively. Wipro gained 4.6% to Rs 377.

Mahindra & Mahindra rallied 3.5% to Rs 658. Ambuja Cements and HDFC Bank advanced over 3% each to Rs 123 and Rs 1,270, respectively.

Larsen & Toubro and Bharti Airtel moved up over 2.5% each to Rs 2,839 and Rs 778, respectively.

ACC, ITC and Infosys gained over 2% each at Rs 776, Rs 187 and Rs 1,342, respectively.

And the shakers

Hindalco plunged over 4% to Rs 155. Hindustan Unilever dropped 2.5% to Rs 225.

DLF and Reliance Energy slipped nearly 2% each to Rs 623 and Rs 1,206, respectively.
Major Gainers

Major Losers



% Chg



% Chg

International Conveyors 150.05 20.0 Super Tannery 9.60 -78.2
Ras Resorts 35.95 16.2 State Trading Corporation 398.40 -55.0
Bilcare 728.00 13.0 Sutlej Textiles 73.00 15.6
ANG Auto 94.45 12.4 Vadilal Enterprises 65.00 15.5
Hindustan Sanitaryware 45.10 12.3 S.Kumars Nationwide 114.25 14.9
(Close = Stock pirce at the end of day in Rs)

Value and volume toppers

Reliance Capital topped the value chart with a turnover of Rs 316.70 crore followed by Reliance Energy (Rs 303.20 crore), GSS America (Rs 259 crore), Reliance (Rs 211 crore) and Reliance Natural Resources (Rs 203.80 crore).

Reliance Natural Resources led the volume chart with trades of around 1.97 crore shares followed by Ispat Industries (1.27 crore), Reliance Petroleum (1.07 crore), Essar Oil (83.53 lakh) and Jaiprakash Associates (70.55 lakh).