Market ends near day's high: Nifty closes above 4,900

28 March 2008

The markets closed near day's high amid choppiness after hovering around Thursday's closing levels for major part of the day. All the BSE sector indices closed in green with metal, capital goods, IT, realty, power and energy stocks outperformed. 

Broader markets saw a smart rally with both the midcap and smallcap indices closing up over 4%. The breadth was positive in the favour of advances. The cues from Asian peers were encouraging with most of the Asia in green. Shanghai was up 5% after falling down nearly 40% from all-time high.

Inflation number came in higher up 15 ticks at 6.68% for the week ended March 15 as compared to 5.92% in the last week. The market had estimated it at 5.96%; it has touched its 59 week high. 

Sensex closed up 355.73 points or 2.22% at 16371.29, and the Nifty up 111.75 points or 2.31% at 4942.00.

About 2454 shares have advanced, 552 shares declined, and 57 shares are unchanged.

The BSE Midcap Index ended at 14,654.19 up 4%.