Gains on Saddam arrest

STOCKS REPORT

Key indices rose on Monday buoyed by news of the capture of former Iraqi leader Saddam Hussein which, brokers said, eased concerns about global security.

The 30-share BSE sensitive index (Sensex) surged 75.07 points, or 1.41 per cent, to close at 5,390.88, its best close since April 12, 2000.

The Sensex touched an intra-day low of 5,351.01 and a high of 5,399.08. On the National Stock Exchange, the NSE S&P CNX Nifty Index rose 25.05 points to 1,723.95.

"In fact, markets across the region got a boost from the news (of Saddam's arrest) and the local market took the cue from them," brokers said. They added that the mood was also upbeat on signs of continued foreign demand for local shares.

Monday's rally was led by technology stocks as Nasdaq futures traded firm, indicating a higher open at the Wall Street.

Satyam Computer rose 5.23 per cent to Rs 361.15, off its new 52-week high of Rs 363.30 hit in intra-day trades today.

Wipro surged 3.81 per cent to Rs 1,668.50 and Infosys Technologies climbed 2.25 per cent to Rs 5,154.95. Media major Zee Telefilms vaulted 3.65 per cent to Rs 143.40 on news that company's board will meet to consider a restructuring proposal.

Old economy companies were driven up on hopes of a robust growth in current-quarter earnings. Tata Steel gained 3.47 per cent to Rs 391.80 on a firm trend in international as well as domestic steel prices.

FMCG gaint, Hindustan Lever jumped 3.26 per cent to close at Rs 193.10. Cigarette major, ITC vaulted 3.07 per cent to Rs 994.65.

Reliance Industries edged up 1.69 per cent to Rs 499.10. But ONGC fell 0.64 per cent to Rs 686 as global crude oil prices eased.

Meanwhile, HDFC eased down 1.96 per cent to Rs 353.40 and ICICI Bank fell 1.41 per cent to Rs 275.55 o profit-taking.