Markets end higher led by oil & gas, IT, telecom, cap goods
06 Mar 2009
The benchmark indices have strengthened and closed higher in the last one hour of trade on short covering. This after trading rangebound throughout the day. Shares of oil & gas exploration, technology, telecom, metal, capital goods, power, and select financial companies saw buying interest.
The most beaten down heavyweights, in yesterday's trade, like Reliance Industries, ONGC, NTPC, Infosys, Bharti, TCS, HDFC, BHEL, Wipro, SAIL and L&T have helped the Nifty to come back above the 2600 mark.
The 30-share BSE Sensex shut shop at 8,325.82, up 127.90 points or 1.56% over previous close, after hitting an intraday high of 8,347.74 and low of 8,047.17.
The 50-share NSE Nifty gained 43.45 points or 1.69%, settle at 2,620.15. It has touched a high/low of 2628.10 and 2539.45, respectively. The discount of Nifty March futures has trimmed down to 8 points, at close.
Satyam was locked at 20% upper circuit and closed at Rs 42.15 a share, as the company has finally got the Securities and Exchange Board of India's (SEBI) approval for a global competitive bidding process. The company said that the SEBI approval will enable the investor to acquire a total 51% stake in the company. There were pending buy orders of 1,587,823 shares, with no sellers available. Its traded volumes saw an increase of 158.99% to 54,687,521 shares, compared to its 5-day average of 21,115,341 shares on the NSE.
Volumes were higher today compared to average of last four days; total traded turnover stood at Rs 61,263.22 crore. This includes Rs 9,195.86 crore from NSE Cash segment, Rs 48,734.94 crore from NSE F&O and the balance Rs 3,332.42 crore from BSE cash segment.
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