Sensex rises 111 points

STOCKS REPORT

The Sensex rose 111.12 points or 1.88 per cent, to 6,026.59 on Friday - an all-time high in history. The rally was broad-based as investors bought across sectors ahead of the start of the quarterly earnings season next week.

Also, traders brought stocks in anticipation of higher foreign funds allocations in 2004. The Sensex had touched its all-time high of 6,150.69 in intra-day trades on February 14, 2000, but had ended at 5,924.31.

During the day, the Sensex hit a low of 5,944.23 and a high of 6,034.38 in intra-day trades. Meanwhile, the broader NSE S&P CNX Nifty index gained 33.80 points, or 1.77 per cent, to end at a new high of 1,946.05.

Market breadth was very healthy with gainers outnumbering declines. Of the 1,958 stocks, 1,163 stocks advanced and 737 declined.

Meanwhile, the turnover rose to Rs 2,870.26 crore compared with Rs 2,124.46 crore on Thursday. On the NSE, 41.63 lakh shares worth Rs 6,057.53 crore were traded.

ONGC. the biggest company by market value, rose 11.97 per cent to Rs 919.05. Petrochemicals giant, Reliance Industries, the second biggest, was up 2.8 per cent at Rs 585.70.

Hindustan Petroleum jumped 2.32 per cent to Rs 461.20 amid hope that the government's stalled disinvestment programme may revive soon.

Meanwhile, MTNL vaulted 4.23 per cent to Rs 148.95 on fund-based buying. Elsewhere, Hindalco rallied 5.68 per cent to Rs 1,480.45, off from a new high of Rs 1,490 in intra-day trades on reports that leading aluminium and copper makers have raised prices of the two metals in the new year with effect from January 1.

Meanwhile, cement stocks rose on talks of a hike in cement prices by Rs 10 per bag in the next few days. Grasim Industries jumped 4.38 per cent to Rs 1,056.35.

The stock price of Associated Cement Company surged 2.84 per cent to Rs 266. Gujarat Ambuja Cements gained 1.33 per cent to Rs 315.60.

Other index heavyweights too remained in the limelight. Cigarette major ITC added 3.08 per cent to Rs 1,022.65. FMCG giant Hindustan Lever edged up 1.39 per cent to Rs 215.55. State Bank of India vaulted 0.38 per cent to Rs 567.25. Pharma major Cipla too jumped 3.55 per cent to Rs 1,398.70. Hyderabad-based Dr Reddy's Labs rose 1.23 per cent to Rs 1,448.90 on sustained buying interest.

Auto stocks remained in the limelight on higher sales in December 2003. Bike major Hero Honda Motor jumped 1.69 per cent to Rs 465.05, off its day's high of Rs 472 after the company said that its sales in December jumped 28.03 per cent to 160,191 motorcycles compared with 125,116 units a year ago.

TVS Motor added 4.58 per cent to Rs 116.45, despite the company reporting a marginal fall in December sales.

Maruti Udyog rallied 1.56 per cent to Rs 380.75, after the company announced that it sold 37,091 vehicles in December, which includes 3,748 units of exports. This is Maruti's best ever December sales in the last 20 years.

But Bajaj Auto fell 1.18 per cent to Rs 1,122.25, off day's high of Rs 1,150, after the company said its December 2003 sales rose 3.75 per cent from a year ago to 71,606 units from 69,016 last year.

Elesewhere, HDFC Bank eased down 0.61 per cent to Rs 364, the only frontline stock to end in the red in an otherwise bullish trading session.