Markets go bullish on New Year's day (Roundup)
Mumbai | January 01, 2009 5:35:11 PM IST
Indian equities markets turned bullish on the first day of the New Year, with a key index gaining
2.66 percent over its previous close.
The sensitive index (Sensex) of the Bombay Stock Exchange (BSE) closed in the green Thursday
at 9,903.46 points, a rise of 256.15 points or 2.66 percent from its previous close of 9,647.31
points.
The markets were largely positive with 2001 stocks advancing against 493 declining. Sixty-six
stocks remained unchanged.
The broader S&P CNX Nifty index of the National Stock Exchange (NSE) went up 2.51 percent
to close at 3,033.45 points.
Other market indices also moved north, with BSE's midcap index rising 2.6 percent and the
smallcap index gaining 3.46 percent.
All 13 sectoral BSE indices ended in the green with realty and metal stocks doing better than
others.
\"January is a crucial month as a lot of companies will start divulging financial results. One has to
be very careful in not taking occasional spurts as one particular trend - bearish or bullish,\"
Jagannadham Thunuguntla, head of the capital markets arm and director of India's fourth
largest share brokerage firm, the Delhi-based SMC Group.
The top gainers on the Sensex include Reliance Communications (up 7.99 percent to close at
Rs.227.25), Tata Motors (up 7.48 percent at Rs.159.05) and Satyam Computers (up 7.17 percent
at Rs.170.15).
Losers on the Sensex included Ranbaxy Labs (down 0.97 percent at Rs.252.40) and ITC (down
0.03 percent at Rs.171.45).