“Investors are buying up short positions again. That coupled with favourable global cues has helped the markets move further up,” said Jagannadham Thunguntula, equity head at SMC Capitals.

1. Markets close higher on strong global cues
Mar 16th, 2009 |
Mumbai, March 16 (IANS) Indian equities closed in the green Monday on the back of strong
global cues and healthy buying across sectors. A key index ended trade 2.13 percent higher than
its previous close.
The 30-scrip Bombay Stock Exchange (BSE) sensitive index (Sensex), which opened at 8,793.89
points, ended at 8,951.32 points - an increase of 194.71 points or 2.13 percent.
Similarly, the S&P CNX Nifty of the National Stock Exchange (NSE) gained 2.11 percent from
its last close to shut shop at 2,776.25 points. The BSE midcap index ended 2.28 percent higher,
while the BSE smallcap index was up 2.2 percent.
“Investors are buying up short positions again. That coupled with favourable global cues has
helped the markets move further up,” said Jagannadham Thunguntula, equity head at SMC
Capitals.
All the 13 sectoral indices on the exchange ended in positive terrain, with the indices for realty,
oil and gas and banking stocks gaining the most. As many as 25 scrips gained on the 30
composite Sensex. The top gainers were: Jaiprakash Associates, up 8.96 percent at Rs.77.25;
Mahindra and Mahindra, up 8.48 percent at Rs.374.05; Ranbaxy Laboratories, up 6.82 percent at
Rs.147.95; and Reliance Communications, up 6.74 percent at Rs.156.75.
Among losers on the Sensex were: Sun Pharma, down 2.05 percent at Rs.1,000.85; Maruti
Suzuki, down 1.9 percent at Rs.698.85; Grasim Industries, down 1.03 percent at Rs.1,477.90;
and Infosys, down 0.62 percent at Rs.1,288.25.
The overall market sentiment was positive, with 1,611 stocks advancing, 847 scrips declining
and 87 remaining unchanged. Foreign Institutional investors bought shares to the tune of $47.50
million Monday.
In Asian markets, Japan’s benchmark Nikkei 225 Stock Average was ruling 134.87 points or
1.78 percent higher than its previous close, while the Hang Seng, a key index of the Hong Kong
Stock Exchange, closed 3.6 percent higher to end at 12,976.71 points.
European markets, which came online before Indian bourses ended trade, were also in the green,
with the FTSE in Britain ruling 1.91 percent higher than its last closing figure.