Golden Investment Research Private Limited
Indian Stock Market Closing News
Nifty scales over six-month closing high; cement shares rally
Date : 06.02.2012
Key benchmark indices gained for the fifth straight trading session as the Congress led coalition government at the centre got a relief after a special court investigating the telecom licenses scam on Saturday, 4 February 2012, dismissed a petition to investigate Home Minister P Chidambaram's alleged role in a 2008 telecom scandal. The barometer index, BSE Sensex, jumped 102.35 points or 0.58%, off about 125 points from the day's high and up close to 110 points from the day's low. The market breadth was strong. The Sensex attained its highest closing level in almost 14-1/2 weeks and the 50-unit S&P CNX Nifty attained its highest closing level in more than six months.
The Sensex has jumped 844.01 points or 5% in five trading sessions from a recent low of 16,863.30 on 30 January 2012. The Sensex has surged 2,252.39 points or 14.57% in calendar 2012 so far. From a 52-week low of 15,135.86 on 20 December 2011, the Sensex has risen 2,571.45 points or 16.98%. From a 52-week high of 19,811.14 on 6 April 2011, the Sensex has lost 2,103.83 points or 10.61%.
Coming back to today's trade, cement shares surged after cement firms reported higher dispatches for the month just gone by. FMCG giant Hindustan Unilever (HUL) reversed initial gains after strong Q3 results on profit taking. TCS gained after the company won a new order in Europe. Index heavyweight Reliance Industries (RIL) edged lower in volatile trade. Realty shares extended recent gains. L&T gained after winning a large order. Shares of firms whose fortunes are linked to orders from railway surged on reports that the finance ministry has approved loan of Rs 3000 crore to Indian Railways. Banking stocks extended recent strong gains. National Aluminium Company fell after weak Q3 results.
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