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Sensex gains 133 pts on value buying

The 30-share index, which gained 230 points in the previous session, rose another 133.04 points to reach 20,389.07. Brokers said it was the best performer in Asia.

twitter-logoPTI | December 30, 2010 | Updated 17:31 IST

The Bombay Stock Exchange benchmark Sensex advanced over 133 points on Thursday, as investors concluded monthly derivative settlements and bought stocks that showed strong fundamentals.

The 30-share index, which gained 230 points in the previous session, rose another 133.04 points to reach 20,389.07. Brokers said the benchmark index was among the best performers in the Asian region.

The broad-based National Stock Exchange index Nifty rose 41.50 points to 6,101.85 on the back of a firming trend in consumer durables, realty, IT and metal sector stocks.

The value buying in strong fundamental stocks and investors' carrying-forward their positions in the derivative sector on expectations of a better trend in the coming days, diluted the impact of negative news from food inflation.

Food inflation surged to a 10-week high of 14.44 per cent for the week ended December 18, the fifth consecutive week when the rate of price rise of food items increased.

Even mixed trend in the global markets failed to dampen the market sentiment. Barring oil and gas sector all the sectoral indices closed higher.

NTPC, the biggest power producer, advanced to a two-month high by adding 2 per cent at Rs 201.90 and Tata Motors, the owner of Jaguar Land Rover, gained the most in two weeks by 1.87 per cent to Rs 1,296.20.

The consumer durable sector gained the most - rising 1.32 per cent to 6,311.48, followed by realty sector's 1.26 per cent to 2,789.34. The IT sector index rose 1.04 per cent to 6,827.59 and metal index 0.98 per cent to 1,7508.83.

With the buying activity spilling over a wide-front, midcap sector index rose 0.73 per cent to 7,714.61 and smallcap index 0.43 per cent to 9,592.61.

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