Markets close at 9-month high led by power, metals, realty

01 June 2009

The benchmark indices ended the session at nine-month high on the back of positive global cues. Shares of oil & gas, realty, cement, metal, power and select technology companies helped the indices to remain on the higher side. However, the sell-off in banks and select telecom stocks capped some of the gains.

The markets saw this positive trend for the fourth consecutive day. The broader indices witnessed sharp rally and outperformed the benchmark indices; hotel and fertiliser stocks were the biggest contributors in trade today.

The 50-share NSE Nifty closed above 4510 and touched an intraday high of 4545.40. It was up 1.82% or 80.95 points, to settle at 4529.90. The Nifty June futures ended with 20 points premium.

The 30-share BSE Sensex touched an intraday high of 14,906.81, before closing the day at 14,840.63, up 1.47% or 215.38 points. The broader indices - the BSE Midcap Index was up 2.92% or 147.47 points, to close at 5,204.21 and the Smallcap Index rose 3.51% or 209.96 points, to 6,196.78.

Suzlon Energy, Unitech, Cairn India, Tata Steel, Sterlite, Tata Steel, ACC, NTPC and Jaiprakash Associates were the top gainers, went up 6-16%.

Hotel stocks witnessed huge buying interest and helped the broader indices to some extent. Asian Hotels, EIH, EIH Associated Hotel, Hotel Leela, Indian Hotels, Kamat Hotels, Oriental Hotels, Royal Orchid and Taj GVK Hotels were up 10-20%. Advani Hotels, Bhagwati Banquet, Jaypee Hotels and Viceroy Hotels gained 5% each.