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Sensex closes 116 points higher, realty stocks outperform
Published on 1 Dec. 2010 12:22 AM IST
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A benchmark index of Indian equities markets Tuesday closed 116 points higher, even as mid-to-smaller valued scrips, especially from the realty sector, which had been battered the previous week, outperformed.
The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 19,373.23 points, closed at 19,521.25 points, up 116.15 points or 0.6% from its previous close at 19,405.1 points. It had touched an intra-day high of 19,610.46 points. At the National Stock Exchange (NSE), the 50-share S&P CNX Nifty ended at 5,862.7 points -- up 0.56%.
Broader markets did relatively better, with the BSE midcap index ending 1.39% up and the BSE smallcap index moving 1.9% higher. Realty stocks bounced back strong after the battering they received in last week’s trade over the bribery scandal involving top financial instiutions and real estate developers.
Among other major gaining scrips were from the consumer durables and power sectors, while the energy index on the BSE was in losses, pulled down by a drop in Reliance Industries, which fell over 1 percent.
Among the gainers on the Sensex were DLF, up 7 percent at `307.25; Bharti Airtel, up 6.45 percent at `360.40; Tata Motors, up 4.31 percent at `1,237.10 and SBI, up 3.97% at `2,994.10. Major losers included Tata Steel, down 1.48% at `584.20; Reliance Industries, down 1.14 percent at `986.80; Tata Power, down 0.9%at `1,290.30, and ICICI Bank, down 0.9% at `1,143.65.
The market breadth was negative, with only 804 stocks advancing, compared to 1,153 scrips on the decline, while 57 stocks were unchanged.
Other Asian markets closed in the red, as traders worried over the consequences of another hike in interest rates by China’s central bank and worries over the sovereign debt crisis in some European countries.

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