BSE Sensex up at 1-week high, RIL leads gains
BT Online Bureau March 6, 2013The BSE Sensex on Wednesday gained over 109 points to close at a one-week high, on buying in realty, capital goods, metal and IT stocks. Market-heavy Reliance Industries (RIL) gained 1.03 per cent to Rs 834.80 against its previous close.
The 30-share barometer of the Bombay Stock Exchange (BSE) resumed higher and moved in positive terrain throughout the day before ending at 19,252.61, a gain of 109.44 points or 0.57 per cent.
It had, on Tuesday, registered its biggest gain in the current calender year by rising 265.21 points.
Smart rise in shares of L&T, Infosys and Tata Motors, among others mainly supported the Sensex surge. However, fall in ITC, HUL, M&M and HDFC Bank counters limited the rise to some extent.
The 50-issue CNX Nifty of the National Stock Exchange (NSE) also improved further by 34.35 points, or 0.59 per cent, to settle above 5,800-mark at one-week high of 5,818.60 on Wednesday.
Brokers said the domestic market got a boost after Asian stocks closed with marked gains while European stocks too were trading higher in early trade due to smart rise on Wall Street on Tuesday night on signs of an improving US economy.
The Dow Jones Industrial Average ended up by 0.89 per cent to all-time closing high of 14,253.77, breaking the previous peak of 14,164.53 set on October 9, 2007.
In the domestic market, IT stocks attracted investors on account of weak rupee, interest-rate sensitive scrips rose higher as hopes of a rate cut in the Reserve Bank of India's (RBI) policy meet later this month gained further ground.
Second-line stocks, which bore the brunt in recent days, remained in the limelight for the second day in a row on good buying by retail investors at low levels.
BSE-Smallcap and BSE-Midcap indices outperformed the Sensex, closing up by 1.50 per cent and 1.14 per cent, respectively.
With PTI inputs