Sensex ends up 38pts; Rel Energy zooms 12%

The Sensex opened with a positive gap of 66 points at 17,357. After advancing to higher levels the index slipped into red to a low of 17,145 - down 146 points from the previous close.

However, agressive buying in PSU and cement stocks helped the index rebound into the positive zone. The buying momentum was so strong that the index rallied to a fresh all-time intra-day high of 17,425 - up 280 points from the day's low.

Some profit taking towards the end, saw the index pare gains and finally settle with a gain of 38 points at 17,329.

The BSE Mid-cap index advanced 1.4% to 7529, and the Small-cap index added nearly 1% to 9185.

The market breadth was positive - out of 2,840 stocks traded, 1,636 advanced, 1,131 declined and 73 were unchanged today.

INDEX MOVERS...

Reliance Energy zoomed 12% to Rs 1,349 following the company's board approval to go for a public issue with its subsidairy Reliance Power. NTPC soared 6.5% to Rs 206.

Reliance Communications rallied 4.5% to Rs 612. ONGC surged 4% to Rs 997.

Cipla gained 3.5% at Rs 189. Ambuja Cements and Grasim moved up 2.5% each to Rs 147 and Rs 3,600, respectively.

Dr.Reddy's, Ranbaxy and Hindustan Unilever advanced around 1.5% each to Rs 658, Rs 441 and Rs 222, respectively.

ACC and Mahindra & Mahindra were up over 1% each at Rs 1,210 and Rs 759, respectively.

...AND THE SHAKERS

SBI plunged 3% to Rs 1,894. HDFC Bank slipped 2.5% to Rs 1,404.

Bajaj Auto, BHEL and ITC dropped around 2% each to Rs 2,484, Rs 1,990 and Rs 186, respectively.

TCS shed 1.7% to Rs 1,039. Wipro and Tata Steel were down over 1% each to Rs 454 and Rs 841, respectively.

MOST ACTIVE COUNTERS

Reliance Energy topped the value chart with a turnover of Rs 557 crore followed by Reliance Capital (Rs 493 crore), Reliance Natural Resources (Rs 282 crore), Reliance (Rs 204.60 crore) and Reliance Communications (Rs 190.70 crore).

Ispat Industries led the volume chart with trades of around 3.40 crore followed by Reliance Natural Resources (3 crore), Tata Teleservices (2 crore), IKF Technologies (1.85 crore) and Himachal Futuristic (1.80 crore).