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Sensex closes on highest ever intraday gain after zig-zag drama

New Delhi, Wed, 23 Jan 2008 Noor En Ahmed
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After seven consecutive falls and making a tumbling history yesterday, Sensex, the BSE index on Wednesday created yet another history in intraday trading in the Bombay Stock Market but this time for gaining heavily not for loosing. Today Sensex gain hefty 1267 points till mid-day and closed with a gain of 864.13 points (5.17%) after some profit booking while Nifty Index, the index of National Stock Exchange closed with the gain of 412 points (5.32%).

After the US declaration to cut 75 basis point interest rates in US Federal Reserve, Indian Stock Market got some relief and tried to recover the market by sprinting rapidly. This news has showed its impact in the whole Asian market and all the market including Hang Sang, Nikkei closed in green. This cues also supported the Indian bourses.

After the twin-day huge crisis, Indian Stock Market finally closed in the green with earning massive profits, though the volume was not so strong, yet it gives a good sign to the investors. Today BSE closed on 17594.07 point while NSE closed on 5203.40 with total collecting turn over of Rs.62430.55 crore. The turnover in the BSE cash segment was at Rs 7101.17 cr and NSE cash was at Rs 19255.52 cr while in NSE Future & Option segments it was at Rs 36073.86 cr.

Today Sensex open in the profit zone with gaining 700 points while in the mid-day it losses some point in profit and went to under 17,000 mark but soon recovered and reached to 17,990 points, the highest achieving points of today.

Nifty opened above 5,000 mark but soon dipped below it, later with the support of good news it again reached to 5,000 mark touching 5294 mark, the peak point.

Realty, power, metal, oil & gas and banking sectors were the most active counters today in the Indian bourses while midcaps and smallcaps also gained massive profit. Most of these indices were closed with gaining 10% mark.

There were about 1376 shares closed in advanced, 1568 shares in dipping while 39 shares were remained unchanged in BSE. On the other hand, BSE Midcap index today also gained and ended up 8.15% at 7789.31 and Smallcap closed with a gain of 3.96% at 10,425.34.

In NSE-50 scrips, Reliance Petroleum, SAIL, Unitech and Tata Power were some of the key gainers; they gained ground by over 11.65 per cent each.

Top gainers in the Sensex are NTPC at Rs 213.70 up 8.64%, Reliance at Rs 2,561 up 8.61% and BHEL at Rs 2,154 up 8.50% while among the Top losers are Wipro at Rs 417.95 down 2.54%, Bharti Airtel at Rs 836 down1.57% and Ambuja Cements at Rs 115.30 down 0.82%.

Today Asian markets also zoomed with gaining bulky profit. Hong Kong's Hang Seng gained 7.28% or 1584.55 points at 23,342.18. Japan's Nikkei grew 3.35% or 421.27 points at 12,994.32. Singapore's Straits Times advanced 2.97% or 85.27 points at 2,951.82. South Korea's Seoul Composite surged 1.74% or 28 points at 1,637.02. However, Taiwan's Taiwan Weighted was down 0.17% or 12.91 points at 7,569.05.

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