Sensex Gains 277.29 Pts On Strong Buying

Sensex Gains 277.29 Pts On Strong BuyingAfter closing the day in red, on Thursday (April 16), on profit booking, the 30-share index BSE Sensex belled the day on a positive note today.

The 30-share index, BSE Sensex opened with a gain of 120.31 points, at 11,067.71 on Friday.

The Sensex gained ground in proportion to worldwide markets and also on healthy buying activity witnessed in index pivotals.

The stocks from realty, banking, capital goods, metal and power sectors were in limelight.

On April 16, Sensex closed the day in negative after eight consecutive sessions of positive rally on account of heavy profit booking.
 
Mirroring strong buying activity, BSE Midcap and Smallcap index also gained 3.18% and 2.76% respectively.

The BSE Realty index, which soared 6.09%, was the top gainer amongst the sectoral indices, followed by Bankex and Capital goods that gained more than 4% each, Metal went up 3.97% and Power was up by 3.43%.

At 10:50 a.m., Sensex gained 277.29 points (2.53%) at 11,224.69 after hitting a high of 11,224.69 and a low of 11,055.23.

In the meantime, the broad based Nifty stood at 3,454.85, up 85.35 points (2.53%), after touching a high of 3,457.05 and a low of 3,369.50.

The top gainers in the Sensex pack included Reliance Energy, which surged 6.09%, JP Asso gained 5.72%, Reliance Capital increased 5.55%, SBI moved up 5.27%, Tata Steel zoomed 5.15%, and Tata Motors was up by 5.08%.

On the other hand, the biggest losers in the Sensex were ITC, which declined 0.47%, Sun Pharmaceutical lost 0.26%, and Tata Power Company dangled 0.10%.

Asian stocks gained led by banking institutions and auto manufacturers as profits from JP Morgan Chase & Co. and reduction in US jobless claims lifted poise that the worldwide recession is relieving.

Nikkei gained 120.63 points to trade at 8,875.89, Hang Seng index went up 222.02 points to trade at 15,805.01 and Shanghai Composite declined 18.87points to trade at 2,515.26.

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