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Markets close day with handful gains; Sensex up by 509 points

August 29th, 2008

Friday, August 29, 2008 3:46:10 PM IST

Positive trend from the inflation, cooling of crude oil prices and a good US$ has brought back good buying in the Indian stock markets. Bank, Realty and PSU are busy counters today. BSE Sensex closed day at 14557.87 up by 509 pts or 3.63%. NSE Nifty closed day at 4356.30 up 3.38%

The CNX IT closed at 3.19%. All 20 stocks advanced today. Moser Baer is up 10.9%. Educomp is up 6.05%. CMC and GTL are up over 5% each.

The star of the day is undoubtedly Banking stocks. Bank Nifty is up 6.64% - the highest rise in recent times. All 12 stocks on the Bank Nifty are up. Kotak Bank opened at 579.5 and closed the day at 607.15 up by 9.16%. Other gainers include Oriental Bank, Axis Bank, Union Bank and the Punjab National Bank.

CNX 100 is up 3.41% and CNX Midcap is up 2.8%. Top gainers of the day from the Nifty Midcap 50 segment include Moser Baer (up 10.98%), Ashok Leyland (up 8.33%), Punk Lloyd, Matrix Laboratories, CESC (all up over 7%), Andhra Bank, Divis Lab, Syndicate Bank (all up over 6%) amongst others.

The BSE Sensex showed a glowing face as it managed to clos the day above 14550 points. The index is up 509.53 points or 3.63%. Midcap index stocks showed buying interest in the last hour of trade. The BSE Midcap index is up 2.41%. The Smallcap index rather remained calm but managed to be up by 1.53%

All sectoral indices on the BSE closed the day with atleast 1% up. The list is lead by Bankex (up 6%), Realty (up 4.7%), PSU, Metal, Capital Goods, Power, Teck (all up over 3%)

Overall a good day both for the traders and investors.

1 U.S. dollar = 43.5445 Indian Rupees
1 U.S. dollar = 108.8850 Japanese Yens
1 U.S. dollar = 0.6784 Euros
1 Ounce Gold = $835.60
1 Barrel Crude Oil = $116.75

Entry Filed under: Equity Markets, Banks & NBFC, Closing Bell