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Markets gain on global cues

June 28, 2010 16:18 IST

BSEMarkets gained smartly on global cues.

The Sensex had opened flat and jumped in early trades, mirroring cues from Asian markets.

However, towards noon, the index dropped on profit taking and as US futures declined.

Markets were volatile in a narrow range from then on.

With a jump in European markets, the Sensex once again, started gaining and touched a high of 17,795 - up 223 points from the day's low of 17,572. The index finally ended with a gain of 200 points  (1%) at 17,774.

The Nifty ended at 5,334 -- up 64 points.

BSE consumer durables index jumped almost 3% to 4,736. Oil & gas index continued

Friday's rally and gained 2.2% at 10,846. The government on Friday had hiked fuel prices.

Realty, power and PSU index were also up. However, the FMCG index dropped 0.6% to 3,184.

Reliance contributed the most to the market's sudden upmove. The stock jumped 2.3% to Rs 1,088.

Reliance Communications was the star of the show and surged 4.6% to RS 201. Reliance Infrastructure added 4% to Rs 1,215.

ONGC gained 3% at Rs 1,304. Tata Motors, Tata Power and Tata Steel added over 2% each.

DLF and Jaiparaksh Associates advanced 1.7% each to Rs 292 and Rs 132, respectively. Larsen & Toubro was up 1.6% at Rs 1,790.

Hindalco, NTPC, ICICI Bank and Mahindra & Mahindra were up as well. Other gainers included BHEL, Wipro, Sterlite and Bharti Airtel.

However, ITC dropped 1.5% to Rs 297.

BSE market breadth was positive through the day. Out of 2,985 stocks traded, 1,761 advanced while 1,081 declined.

VALUE TOPPERS. . .

HPCL topped the value chart with a turnover of Rs 248.54 cr, followed by BPCL (Rs 186.85 cr), IOC (Rs 172.21 cr), Reliance Communications (Rs 136.89 cr) and Reliance (Rs 133.20 cr).

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