Mumbai, June 26 (Inditop.com) A key index of the Indian equities markets soared towards closing bell Friday, rising more than 419 points from its last closing figure.
It also ended the week on a 3 percent rise from its previous weekly close in spite of profit booking that ensued for most of the week.
The benchmark index of the Bombay Stock Exchange (BSE), the Sensex, which opened at 14,373.57 points, ended trade at 14,764.89 points – 419.27 points or 2.92 percent higher than Thursday’s close.
Similarly, the S&P CNX Nifty of the National Stock Exchange (NSE) ended the day 3.12 percent up at 4,374.4 points.
Broader market indices also closed in the green, with the BSE midcap index ending 2.38 percent up, while the BSE smallcap index closed 1.81 percent higher than its previous close.
The sudden rise was led by banking, capital goods and IT stocks with the three sectoral indices of these scrips ending among the top of the 13 sectoral indices on the BSE. The only loser was the index for healthcare stocks.
The market breadth was positive, with 1,689 stocks advancing compared to 937 declining, while 107 scrips remained unchanged.
Among the gainers on the 30 scrip composite Sensex were ICICI Bank, up 7.96 percent at Rs.754.35; Sterlite, up 6.11 percent at Rs.612.05; L&T, up 5.47 percent at Rs.1,611.20; and TCS, up 4.35 percent at Rs.396.90.
There were only four losers on the Sensex.
Sun Pharma topped the list after having plunged 17.59 percent to Rs.1,070 soon after opening bell as news broke that the US Food and Drug Administration (FDA) Thursday had seized 33 drugs manufactured by Sun Pharma’s American subsidiary.
The regulatory seized the drugs from the company’s subsidiary Caraco Pharmaceutical Laboratories, in which the Indian company holds about 75 percent.
It later recovered a bit to end the day at at Rs.1,140.45, a fall of 12.17 percent from its last close.
Among other losers were Ranbaxy, down 4.37 percent at Rs.255.20; Tata Steel, down 2.53 percent at Rs.387.90; and M&M, down 0.73 percent at Rs.697.50.
Data with the market watchdog Securities and Exchange Board of India (SEBI) showed that foreign funds sold shares worth $213.9 million Friday.
In Asian markets, the Nikkei 225 Stock Average, a key index of the Tokyo stock exchange, gained 81.316 points on hopes that the recession in the US economy was easing and shares of blue chip company Nippon Oil Corp rising. It ended Friday’s trade at 9,877.39 points.
The Hang Seng, a primary index of the Hong Kong stock exchange, also ended in the green at 18,600.26 points, an increase of 325.23 points over its previous close.
European markets were trading mixed, with the FTSE, a key British index, ruling almost flat with a 10.91 point rise and stood at 4,263.48.
Its French peer, CAC 40, was in the red, trading at 3,160.63 points, a decrease of 2.47 points.
Key US stock futures were trading low, indicating a weak opening in the equities markets.
Both the Dow Jones and Standard and Poor’s 500 future indices were down 0.2 percent, while the technology scrip-heavy Nasdaq future was marginally down 0.1 percent.
