Poll euphoria continues

STOCKS REPORT

Shares of public sector units and banks were in the limelight on the bourses today, with the Bombay Stock Exchange (BSE) Sensex gaining for the third straight session. The Sensex closed at 5757.30, up 1.25 per cent (71.11 points).

According to players, buying was seen on hopes that the BJP-led NDA alliance will retain power at the Centre which will also speed up the reform process.

The BSE PSU index was up 1.98 per cent, while the Bankex gained 1.86 per cent. The consumer durables sector was the largest gainer on the BSE with a gain of 2.95 per cent. The market breadth was positive, with gainers outpacing losers in the 1,304:498 on the BSE.

Among the 30 Sensex stocks, 24 closed higher. Brokers said the sentiment was positive but uncertainty about the outcome of the elections was making investors cautious with most of them adopting a wait-and-watch approach.

Despite the volatility seen in the last few days, volumes have been low on the bourses. Traded volumes were lower today with the cash market turnover at Rs 2,179.86 crore on the BSE and Rs 4,512.62 crore on the National Stock Exchange.

The broader NSE Nifty gained 22.90 points to close at 1,832.80.

Hindalco was the largest gainer among Sensex stocks which was up 4.45 per cent to Rs 1,144.90, followed by Grasim Industries which closed at Rs 1,232.05, a gain of 3.77 per cent over its previous close.

Cipla was the biggest loser among the Sensex stocks, down 1.56 per cent to Rs 1,352.60. BHEL fell 1.25 per cent to Rs 578.95 and Wipro down 0.77 per cent to Rs 1,592.90. Hindustan Petroleum Corporation was up 1.81 per cent to Rs 471.80, Oil and Natural Gas Corporation gained 1.70 per cent to Rs 862.15 and Mahanagar Telephone Nigam was up by 1.69 per cent to Rs 150.85.

Reliance Industries gained 2.05 per cent to Rs 540.70, State Bank of India up 2.04 per cent to Rs 655.70 and Hindustan Lever Ltd was up 1.99 per cent to Rs 145.75.

Tata Steel was up 3.18 per cent to Rs 366.30 and Tata Power gained 2.19 per cent to Rs 390.05. Hero Honda was up 2.33 per cent to Rs 492.25 and Tata Motors gained 0.49 per cent to Rs 484.55.

Larsen & Toubro gained 2.11 per cent to Rs 595.70 and Gujarat Ambuja Cements was up 1.89 per cent to Rs 345.50.

Satyam Computer was up 1.26 per cent to Rs 329.05 and Infosys Technologies was up 0.75 per cent to Rs 5,299.90.

Dr Reddy's Labs was up 1.27 per cent to Rs 886.50 and Ranbaxy gained 0.80 per cent to Rs 1,048.45.