Sensex up
Mumbai: The Bombay Stock Exchange (BSE) Sensex rose to a new 29-month high, as it gained 76.93 points to close at 3,883.76.

The National Stock Exchange's S&P CNX Nifty closed at 1,222.65, which was 25.70 points higher than yesterday's close.

With this, the market has gained more than 140 points in the last two days.
The Hindustan Lever scrip was up 1.82 per cent to close at Rs 168.20. Ranbaxy was up 2.17 per cent to close at Rs 815.25.

The Tata Steel scrip hit a 52-week high of Rs 234.20 in intra-day trading before closing at Rs 233, up 3.67 per cent over its previous close.

The Bharat Heavy Electricals Ltd (Bhel) scrip gained the maximum on the BSE, and closed 6.89 per cent higher at Rs 293.80.

BSES was the second largest gainer, rising 5.94 per cent at Rs 306.60.

ITC was up 3.17 per cent to close at Rs 762.10.

Reliance Industries was up 2.19 per cent to close at Rs 363.50, with traded volumes of 3.41 million shares on the BSE.

Advances outnumbered declines 13:7 on the BSE, with a traded turnover of Rs 1,742.39 crore.

Security analysts said, after the speech delivered by Finance Minister Jaswant Singh yesterday to the effect that macroeconomic developments in the first quarter of the current fiscal were encouraging, the market was upbeat.
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Ranbaxy GDR gains
Mumbai: The Instanex Skindia DR Index (ISDI), which tracks 14 actively-traded Indian depository receipts, rallied 0.15 per cent to 635.22 on Friday in London till mid-trading session.

The global depository receipt of Ranbaxy gained 1.40 per cent to $18.85. Larsen & Toubro's GDR shed 0.58 per cent to $11.76. The GDR reacted negatively to the decline in its June quarter operating profit margins with its GDR closing 1.07 per cent lower at $12.02 and its local shares ending 3.45 per cent lower at Rs 280.15.

On Thursday, ISDI gained 0.75 per cent to close at 634.28. While the ISDI price-earning ratio also gained by 0.51 per cent to 12.79 as compared to 12.73.
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ONGC ends higher
Stocks of ONGC rose to a new 52-week high of Rs 527.50, before closing 4.87 per cent higher at Rs 525.10 on good buying support. More than 7.45 lakh shares of the stock were traded on the BSE.

Market sources attributed the rise to the company's good future prospects. ONGC is India's largest producer of crude oil, natural gas and LPG.

Crude oil accounts for about 60 per cent of the company's total revenues, while natural gas accounts about 25 per cent.

ONGC has obtained approval from the government to set up 1,000 retail outlets across the country and plans to market petroleum products from the recently acquired Mangalore Refinery and Petrochemicals under the ONGC brand.
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US stocks end higher on Friday
New York: The US stock market closed slightly higher on Friday, buoyed by McDonald's Corp. after it reported strong restaurant sales.

However, the Nasdaq went down on reports of the weak showing of semiconductor stocks.

The Dow Jones industrial average ended up 64.64 points, or 0.71 per cent, at 9,191.09, according to the latest available data. The broader Standard & Poor's 500 Index rose 3.47 points, or 0.36 per cent, to 977.59. The technology-laced Nasdaq Composite Index ended down 8.15 points, or 0.49 per cent, at 1,644.03.

A stream of economic data this week showing a rise in productivity and a drop in weekly jobless claims also helped bolster sentiment.

About 1.09 billion shares traded hands on the NYSE and roughly 1.3 billion shares were traded on the Nasdaq.

McDonald's shares rose after sales at its restaurants rose 4.2 per cent in July for the third straight month. Mc Donald's shares rose $1.83 or 8.3 per cent, to $23.89 and led the Dow's percentage gains.

However, Nvidia Corp. gave technology shares the jitters after it warned that its gross margins would be hurt by higher technology costs. Its shares fell $3.80 or 19.69 per cent, to $15.50 and were among the Nasdaq's most active issues.

Nvidia's decline had a bad effect on other chipmakers, Intel Corp, the world's top semiconductor maker, which fell 41 cents or 1.71 per cent to $23.58. The Philadelphia Stock Exchange semiconductor index sank 3.11 per cent.
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