Strong buying interest in some index pivotals including Reliance Industries boosted the bourses today. IT pivotals, Wipro, TCS and Satyam Computer edged higher. Reliance Energy spurted. Last week's sharp fall in global crude oil prices supported the rally on the bourses. The market breadth was strong.
European markets, which opened after Indian markets, turned negative after a positive start. Asian markets, which opened before Indian market, were mixed. Market breadth was strong. 24 out of 30 stocks from the Sensex pack were in green.
The 30-share BSE Sensex provisionally ended up 243.36 points or 1.26% to 19,606.55. The Sensex hit a high of 19,619.32 in mid-afternoon trade trade. At day's high, the Sensex gained 256.13 points.
The broader based S&P; CNX Nifty provisionally ended up 104.70 points or 1.82% to 5867.45.
The BSE Mid-Cap index was up 2.49% to 8,766.90. The BSE Small-Cap index was up 2.49% to 10,788.24.
Market breadth was strong on BSE on the back of strong demand for small-cap and mid-cap shares. 2071 stocks advanced, 715 stocks declined and 60 stocks remained unchanged on BSE.
BSE clocked a turnover of Rs 9264 crore compared to Friday (30 November 2007)'s Rs 8,457.32 crore.
Indias largest private sector firm by market capitalisation and oil refiner Reliance Industries rose 2.60% to Rs 2928.90, off days low of Rs 2850.
Indias largest private sector bank by assets ICICI Bank fell 1.24% to Rs 1170, off days high of Rs 1183.25.
Indias second largest software exporter by sales Infosys Technologies fell 0.25% to Rs 1601.
Reliance Energy spurted 9.26% to Rs 1901, Wipro soared 7.54% to Rs 495, Reliance Commnications jumped 6.26% to Rs 717.10, Hindalco Industries gained 3.62% to Rs 192 and TCS rose 3.37% to Rs 1048.15.
Bharti Airtel fell 1.51% to Rs 925.30, Housing Development Finance Corporation (HDFC) fell 1.31% to Rs 2748.10, HDFC Bank declined 0.76% to Rs 1706, and ONGC fell 0.41% to Rs 1166.
European markets declined after a positive start. In Europe, key indices in UK, France and Germany were down between 0.17% to 0.41%.
Asian markets were trading mixed today, 3 December 2007. Key indices in Singapore and Hong Kong were up between 0.01% to 0.05%. Key indices in China, Japan, South Korea and Taiwan were down between 0.03% to 0.33%.
Oil prices fell below $89 on Friday on expectations that OPEC will decide to increase output at its meeting in this week. Crude oil hovered above $89 a barrel on Monday, 3 December 2007, after close to $10 fall last week. US crude for January delivery rose nearly $1 to above $89.50 a barrel, but was still well off a record high near $100 set on 21 November 2007.
US markets ended mixed on Friday, 30 November 2007 on the expectation that Fed will cut interest rates by 25 basis points in its meeting scheduled on 11 December 2007. The Dow Jones Industrial Average rose 59.99 points 0.45% to 13,371.72 and The S&P; advanced rose nearly 1% to 1,481. However the Nasdaq Composite slipped 0.3% to 2,661.
As per provisional data, Foreign Institutional Investors (FIIs) purchased shares worth a net Rs 1072.07 crore, while domestic institutional investors (DIIs) were net buyers of shares worth Rs 688.34 crore on Friday, 30 November 2007.
FIIs sold equities worth Rs 5,849.90 during the month of November 2007. On cumulative basis, FIIs were net buyers of equities to the tune of Rs 65,907.30 crore in calendar 2007 so far.
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