After the bell : 31-10-2008

By Abhishek on 6:30 PM

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Surge Continued.....  Celebration on Dalal Street....
Indian market continued its journey towards north for the third consecutive day. we can say it was a  belated celebration for our markets today as we were closed yesterday when other Global markets were partying. The Sensex ended the day with a gain of 743.55 points, or 8.22% at 9,788.06 after touching a high of 9,870.42 and a low of 9,361.66. The broad-based NSE Nifty gained 188.55 points, or 6.99% at 2,885.60 after hitting a high of 2,921.35 and a low of 2,696.30. BSE Midcap and Smallcap index fell 3.41% and 2.46% respectively.

For the week Sensex and Nifty gained 12.5% and 11.7% respectively, thereby breaking a 5-week losing streak. Sectorally, BSE Metal and Oil & Gas indices were the star performers, gaining 22% and 20% week-on-week, while Healthcare and FMCG were the only indices which closed in red, down 1.2% and 1% respectively. Bank of Japan announced a rate cut of 20 bps against the expectation of 25 bps. US stock futures were trading down nearly 2%.

All the BSE sectoral indices closed in green. Metal and Oil & Gas indices were the top gainers, up 10.20% to 5,367 and 9.11% to 6,195 respectively. M & M and HDFC were the top sensex gainers, surging 23.09% Rs372.35 and 17.48% Rs1,764 respectively, while Ranbaxy and TCS were the sole losers, down 1.97% to Rs169.45 and 0.93% to Rs537.45 respectively.
Positive sentiment prevailed on the bourses today mirroring spurt in global stocks triggered by a rate cut by the US Federal Reserve.

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