Sensex ends 244 points higher; RIL, Bharti, Infy, DLF up 2.5-5 per cent
08 December 2009
The Nifty staged strong performance after four days of consolidation and closed just below the 5,150 level. Buying across all the sectors helped the Sensex to rally over 240 points. The markets were volatile in the first half of trade while witnessed huge buying interest in the last couple of hours led by heavyweights like Reliance Industries, Bharti, Infosys, DLF, NTPC and ITC. Positive European cues also helped the markets a bit.
Reliance Industries was the leader for today's rally, up 2.33%. The BSE Oil & Gas Index was up 1.7%, as HPCL went up 4.24% and BPCL up 2.18%. Cairn India, IOC and GAIL were up 0.6-1.4%.
Bharti Airtel was the top gainer on the Sensex with 4% gain. Among the other telecom counters, Reliance Communications, Idea Cellular and Tata Teleservices were up 1.5-2.2%.
The 30-share BSE Sensex closed at 17,227.68, up 244.54 points or 1.44% and the 50-share NSE Nifty rose 81.25 points or 1.6%, to settle at 5,147.95.
Sanjay Dutt of Quantum Securities expected the Nifty to hit 5300-5400 by December end. He would focus on midcap stocks.
Robert Parker of Credit Suisse said market activity was low despite an uptrend. "We are staying out of markets for the time being and will stay on the sidelines till December-end."