Bulls back with a vengeance
MIL/IINS, Jul 9, 2008.
Mumbai, July 9, 2008 - Bulls were back with a bang on back of all round buying witnessed in scrips across the sectors. Firm global cues and falling crude oil prices saw the Indian bourses starting off the day with positive gap.
However, in afternoon trades markets came off their day’s high after India’s production at six key infrastructure industries, rose 3.5% in May from a year earlier. Core sector growth in the first two months of the current fiscal year rose 3.5% compared with a 6.9% gain in the same period a year ago.
But, after hitting an intra-day low of 13,581, the benchmark Sensex was on an uptrend as bulls completely dominated over the bourses. The late rally could be attributed to the IT stocks which gained momentum ahead of Infosys results to be announced on Friday. Further, reports stating that the country’s software exports rose 29% to US$40.4bn last fiscal also boosted the IT stocks taking the benchmark index closer to the 14k mark.
Finally, the BSE benchmark Sensex closed at 13,964 rallying 614 points and the Nifty index rose 168 points to close at 4,157.
Volume Toppers…
RNRL was among the most traded counter on the bourses. Others like, IFCI, Marksans Pharma, RPL, Ispat Industries, MVL Ltd, DCB, NTPC, Essar Oil and Cairn India were among the stocks in demand in the liquid universe.
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