Sensex ends at five-month high, up another 186 points

Mumbai, Apr 6 (PTI) Although profit-booking at higher
levels pared early sharp gains, the Indian benchmark Sensex
continued its north-bound journey for the fourth straight
session, gaining by another 186.04 points to close at nearly a
five-month high of 10,534.87.

The Bombay Stock Exchange 30-share barometer moved in a
range of 10,654.89 and 10,410.44 before settling the day at
10,534.87, the level not seen since November 10, 2008, when it
was closed at 10,536.16, a smart rise of 1.80 per cent over
its previous close.

It has gained nearly 967 points or 10.10 per cent in the
four-session rally.

The broad-based 50-issue Nifty of the National Stock
Exchange also improved by 45.55 points or 1.42 per cent to
3,256.60 from its last close.

Asian indices Monday ended strong with a gain between
0.48 per cent and 3.11 per cent.

Heavy buying by foreign institutional investors (FIIs)
and also domestic funds also boosted market sentiment.

FIIs pumped in Rs 691.56 crore on April 2 while domestic
funds also picked up shares worth Rs 254.71 crore on the same
day, as per provisional data.

The strategies by G-20 countries to tackle the recession
and revive the global economy, coupled with optimism about
fresh monetary measures by the Reserve Bank to support
growth, bolstered market sentiment.

Brokers said bulls were buying bluechip stocks.

Consumer durables, capital goods, metals, auto and realty
counters led the rally while FMCG shares suffered a sharp
setback on selling.

Among top Sensex-based gainers, M&M rose by 14.26 per
cent, REL Com by 11.19 per cent, L&T by 7.40 per cent, HDFC by
7.37 per cent, REL Infra by 6.47 per cent, Hindalco by 6.39
per cent, Tata Steel by 4.89 per cent, ICICI Bank by 4.00 per
cent and Sterlite Ind by 3.64 per cent.

However, ACC declined by 3.14 per cent, ITC by 2.49 per
cent, Ranbaxy by 2.30 per cent, Grasim by 2.13 per cent, HUL
by 1.67 per cent and SBI by 1.43 per cent.

The total market depth remained strong as 1,859 counters
ended with gains against 633 with losses on the BSE.

The trading volume was relatively low at Rs 4,690.16
crore from Rs 4,926.47 crore on Friday. REL Infra was the most
active share with the highest turnover of Rs 281.13 crore,
followed by RIL (Rs 242.26 crore), Reliance Capital (Rs 163.74
crore), ICICI Bank (Rs 158.43 crore) and Essar Oil (Rs 144.26
crore).