Sensex rallies by 155 pts on first trading day of 2007
Jan 2nd, 2007 by shan
The Bombay Stock Exchange key index Sensex shot up by 155 points on the first trading day of the new year following a widespread rally led by auto stocks and heavy fund buying after firm Asian advices.
Trading began on a promising note as Foreign Institutional Investors (FIIs), who were away for Christmas and New Year holiday, resumed activity with a bang and made hefty purchases following a steep rally in Asian markets, dealers said.
The 30-share benchmark sensitive index, Sensex, opened strong at 13,827.77 as against the previous close of 13,786.91. After hitting a high of 13,980.54, it ended at 13,942.24, a gain of 155.33 points or 1.13 percent.
Bull operators and retail investors also became active and made good purchases in index heavyweights, which boosted the market sentiment, brokers said.
Similarly, at the wide-based National Stock Exchange, the 50-share S&P CNX Nifty shot up by 41.00 points or 1.03 percent to end at 4,007.40 points.
Auto shares led by Bajaj Auto made handsome gains after the announcement of encouraging December 2006 sales figures of many companies. The BSE-Auto index zoomed by 177.54 points or 3.22 percent to finish at 5,518.50.
In the Asian markets, Hong Kong’s Hang Seng index shot up by 345.46 points and Taiwan’s TAIEX firmed up by 97.08 points.
The major gainers on BSE were RIL, Bajaj Auto, Infosys Tech, Tata Motors, Satyam Computers, TCS, Hero Honda, L&T, Grasim, Maruti Udyog, ICICI Bank, ONGC, State Bank, Wipro, ACC, Bharti Tele, GACL, Ranbaxy, REL and NTPC.