Rising on slipping oil

STOCKS REPORT

Softening of international oil prices and a marginal fall in the domestic inflation rate helped the Bombay Stock Exchange (BSE) Sensex hit a high of 5192.80 in intra-day trades. The Sensex finally closed at 5186.45, up 1.36 per cent (69.44 points) from Friday's close.

Improved sentiment helped the market rise with lower oil prices acting a booster, said brokers. The BSE consumer durables index was the biggest gainer, up 3.56 per cent, followed by the Auto index, up 3.19 per cent and the Metal index gained 2.45 per cent.

Blue chips were in focus on Monday, with 25 out of the 30-scrip Sensex basket closing higher. The broader market was also positive with gainers outpacing losers 4:1 on the BSE.

Players said that action has shifted to mid-cap scrips with investors looking to buy cheaper valuation stocks. Volumes were low with the BSE reporting a turnover of Rs 1,436.90 crore and the National Stock Exchange (NSE) reporting a turnover of Rs 3,286.12 crore.

Maruti Udyog was the biggest gainer in the Sensex basket, up 5.72 per cent to Rs 381.50, followed by the Tata Motors, up 3.13 per cent. Bajaj Auto was up 3.10 per cent to close at Rs 930.45. ACC gained 3.04 per cent to Rs 269.40 and Tata Steel was up 2.76 per cent to Rs 249.75.