Indian Stock Market gains due to central bank action

Friday 29/Jan/2010

Sensex of the Bombay Stock Exchange ,which opened at 16,253.82 points, shut shop at 16,357.96 points, up 51.09 points or 0.31 percent from its previous close at 16,306.87 points.

It had earlier fallen over 325 points or nearly 2 percent to 15,982.08 points below its previous close, soon after the Reserve Bank of India announced a 75 basis points hike in the cash reserve ratio as fears spread it would result in industry facing a crunch to raise credit.

At the National Stock Exchange (NSE), the broader 50-share S&P CNX Nifty closed at 4,882.05 points against the previous close at 4,867.25 points -- a gain of 0.3 percent.

Broader markets also witnessed a change in sentiments with buying resulting in the BSE midcap index closing 1.01 percent up and the BSE small cap index ending 1.2 percent higher.

Banking stocks, realty and consumer goods scrips saw buying interest, while FMCG, metal and telecom stocks came under selling pressure.

The market breadth was positive with 1,471 stocks advancing against 1,354 scrips declining and 62 remaining unchanged.

Among gainers on the Sensex were ICICI Bank, up 5.29 percent at Rs.830.40; BHEL, up 3.1 percent at Rs.2,406.45; SBI, up 2.37 percent at Rs.2,058; and DLF, up 2.54 percent at Rs.332.80.

Top losers included Hindustan Unilever, down 4.44 percent at Rs.244.10; Wipro, down 3.8 percent at Rs.647.40; Tata Motors, down 2.92 percent at Rs.694.35; and Tata Steel, down 2.83 percent at Rs.569.