Market hits 15000 mark after nine months….
Today Bombay Stock Exchange benchmark Sensex regained the 15,000 point level after nine months by rising nearly 138 points after the government unveiled its reforms plan to tackle the economic slowdown.
- The 30-share index, which had lost 1.8 per cent in the opening session, rebounded with a gain of 137.78 points at 15,008.68, a level last seen in September last year. It touched the day’s high of 15,026.03 points.
- Similarly, the 50-share National Stock Exchange index Nifty rose by 41.95 points to 4,572.65, after touching the day’s high of 4,582.20.
- The rally was backed by shares of the realty, capital goods, healthcare, power and banking sectors. Among the 30 Sensex stocks, 21 counters ended higher, led by pharmaceutical stocks of Ranbaxy and Sun Pharma, while nine ended with losses
- The upsurge was backed by the realty sector, which gained the most, by 3.29 per cent, to 4,116.99, with stocks of DLF Ltd, Unitech Ltd, Shobha Developers and Akruti City perking up.
- The capital goods sector was the second-best performer by rising 3.23 per cent to 12,551.73. Stocks of heavy machinery used for construction such as Lakshmi Machines Works surged 28.60 per cent to Rs 1,201.85 and Areva by 7.27 per cent to Rs 362.95 after Patil told Parliament that the government plans to remove delays in public works projects.
- The healthcare sector index rose 2.60 per cent to 3,610.24, power 2.30 per cent to 3,003.22, public sector undertaking 1.88 per cent to 8,578.51, banks 1.32 per cent to 8,164.65, FMCG 1.09 per cent to 2,272.77, tech 0.82 per cent to 2,605.42, auto 0.46 per cent to 4,814.10 and oil and gas 0.31 per cent to 10,404.24.
Below points acted as trigger in the trading sentiment which turned sensex bullish -:
1. After President Pratibha Patil presented the agenda of the UPA government in Parliament
2. They said government data showing a fall in inflation and a firm start in European stock markets this afternoon also boosted trading sentiment.
3. The President said the new government will focus on adversely-affected sectors like infrastructure, exports, small and medium enterprises, and housing.
4. The pension and financial sectors and disinvestment in PSUs would be priority areas for the UPA government, she said
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