COMMENTARY
INTERVIEWS
SPECIALS
CHAT
ARCHIVES

Chautala brings cheer: Nifty posts second highest gain, up 76 points to 1044.45

Pivotals at the National Stock Exchange staged a smart rally on good buying support from bull operators and institutional investors. The rally was fuelled by encouraging political developments in New Delhi.

The market opened on a mixed note as share prices moved in a narrow range till mid-session.

Bu prices spurted in the second half as the Vajpayee government was assured support from small-time political parties for tomorrow's vote of confidence.

Reflecting the uptrend, the S&P CNX Nifty opened at 970.95 points, slipped to the low of 965.15 points and touched the high of 1044.85 points, before closing at 1044.45 points against 968.60 points of the previous day, gaining 75.85 points (7.83 per cent), which is the second highest gain since its inception.

The highest gain recorded was 104.30 points (10.44 per cent) on March 1, 1997.

The CNX Nifty Junior shot up by 120.3 points to 1897.05 points as against 1776.65 points of the previous day. The S&P CNX Defty also jumped up by 62.8 points to 847.05 points from 784.25 points of the previous day.

The S&P CNX 500 rose by 50.74 points to 718.73 points from 667.99 points while the CNX Midcap 200 appreciated by 42.53 points to 645.53 points from 603 points of the previous day.

The top S&P CNX Nifty gainers were: IFCI which shot by 12.86 per cent to Rs 13.60 (Rs 12.05), Bank of India 11.41 per cent to Rs 21 (Rs 18.85), Great Eastern Shipping 11.11 per cent to Rs 22 (Rs 19.80), Reliance Capital 8.13 per cent to Rs 33.25 (Rs 30.75) and Arvind Mills 8.11 per cent to Rs 30 (Rs 27.75).

The two losers were East India Hotels which declined by 2.05 per cent to Rs 191 and TVS Suzuki 0.42 per cent to Rs 477.

Satyam Computers registered the highest turnover of Rs 2.57 billion, followed by Pentafour Softwar Rs 2.34 billion, ITC Rs 1.19 billion, Ranbaxy Rs 723.8 million, MTNL Rs 531.8 million, Silverline Rs 527.6 million, SBI New Rs 514.3 million, Hindustan Lever Rs 441.7 million, Reliance Rs 330.9 million, Tata Tea Rs 314.9 million, Glaxo Rs 309.8 million, NIIT Rs 299.7 million and Software Solutions International Rs 294.1 million.

The other actively traded counters were: Rolta Rs 288.6 million, Infosys Technologies Rs 258.7 million, ACC Rs 233.6 million, Castrol Rs 233 million, HCL-HP Rs 231.4 million, Zee Telefilms Rs 225.7 million, Digital Equipment Rs 223 million, BHEL Rs 194.6 million, BPL Rs 191.4 million, Square D Software Rs 185.3 million and L&T Rs 160.7 million.

UNI

Business news