Nifty ends at new 2009 high; commodities, rate sensitives up
uying in oil & gas and rate sensitive shares propelled the Nifty to close at new 2009 high of 5,178.40. It was just shy of the 5,200 mark and touched an intraday high of 5,197.90. The benchmark indices continued their upmove for the second consecutive day and closed higher for the day as well as for this week.Asian markets helped the markets to start the day on a positive note, following Wednesday's 539 points rally on the Sensex. But after first half an hour of trade, indices turned volatile. In the last couple of hours, the markets gained strength again on the back of buying in shares of commodities and rate sensitives related companies.
The 30-share BSE Sensex closed at 17,360.61, up 129.50 points or 0.75% and the 50-share NSE Nifty went up 0.66% or 33.80 points, to settle at 5,178.40. The broader indices gained 3.8% this week.
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Positive global cues were quite supportive today. European markets and the US index futures were marginally positive, at the time of closing of Indian equities. Asian markets closed higher; Shanghai rallied 2.6% and outperformed the other global indices. Nikkei rose 1.5%. Hang Seng, Kospi and Taiwan were up 0.8-1.3%. Straits Times was flat.
| Index | Closing Value | Chg (%) |
| AUTO | 7,356.81 | 1.5 |
| METAL | 17,333.73 | 1.42 |
| OIL&GAS | 10,418.23 | 0.9 |
| REALTY | 3,854.04 | 0.8 |
| POWER | 3,133.42 | 0.78 |
| MIDCAP | 6,641.14 | 0.72 |
| FMCG | 2,824.39 | 0.66 |
| CAP GOODs | 14,017.08 | 0.62 |
| SMALLCAP | 8,120.71 | 0.6 |
| BANKEX | 9,968.03 | 0.5 |
| IT | 5,175.46 | 0.33 |
| PHARMA | 5,109.94 | 0.03 |
Oil & gas were leading sector; ONGC rose 1.62%. Reliance Industries, Cairn India, GAIL and BPCL were up 0.34-0.87%.
Banking and financials also supported the indices; HDFC Bank was up 1.23%. Bank of Baroda, PNB, SBI, HDFC and Axis Bank gained 0.4-0.7%. ICICI Bank rose 0.15%.
Tata Motors was the top gainer today. The CNBC-TV18 learns that India's largest automobile company has decided to settle Singur compensation issue with the vendors. The company will compensate 75-80% of vendors’ Singur loss. “It has asked vendors to take bank loan of 80-85% Singur loss, which would be repaid by the company,” sources inform, adding Tata Motors will repay principal and interest on vendors’ loan. Almost 80% of the vendors have signed the compensation pact with the company and the remaining 20% will sign it in January 2010.
Other news based stocks were ITI and Jet Airways, which gained 11.2% and 2%, respectively. CCEA (Cabinet Committee on Economic Affairs) has approved extending ITI's 30% quota in BSNL, MTNL orders. Government said telecom department was preparing revival package for ITI and ITI would get 70% advance payment for BSNL, MTNL orders. Cabinet panel has also approved Jet Airways plan for USD 400 million QIP.
Food inflation eases to 18.31% vs 19.95% week ago
Nifty ends at new 52-week closing high
World stocks push higher in pre-Xmas rally
Src: MC, ET