Sensex rallies 227 points; interest sensitive stocks gain

Mumbai, April 25 (IANS) A benchmark index of the Indian equities markets Thursday closed more than one percent up after interest-sensitive stocks like automobile, banks stocks rallied on expectation of an interest rate cut by central bank early next month.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 19,192.11 points, closed the day’s trade at 19,406.85 points in the late-afternoon session, up 1.19 percent or 227.49 points from its previous day’s close at 19,179.36 points.

The Sensex touched a high of 19,434.85 points and a low of 19,192.11 points in intra-day trade.

The wider 50-scrip S&P CNX Nifty of the National Stock Exchange (NSE) closed Thursday’s trade 1.36 percent or 79.40 points down at 5,916.30 points.

There was healthy buying in interest-sensitive stocks like automobile, bank, health care, oil and gas, metal and capital goods.

The BSE automobile index was trading higher by 292 points, followed by bank index was up 197.06 points. The health care index was trading 173.87 percent higher, oil and gas index gained 124.42 points, metal index was up 122.31 points, and capital goods index was higher by 81.92 points.

However, the informational technology (IT) index was down 95.57 points, consumer durables index was trading lower by 35.03 points, the technology, media and entertainment (TECk) index was 29.03 points down and the realty index was down 12.41 points.

Of the 30 sensitive stocks on the BSE, 22 closed the day’s trade in positive territory. These included Dr Reddy’s Lab, which jumped 4.72 percent at Rs.1,992.70; Gail India, up 4.25 percent at Rs.344.65; Tata Motors, up 4.21 percent at Rs.293.25; NTPC, up 4.06 percent at Rs.155.15; and Maruti Suzuki, up 3.50 percent at Rs.1,589.75.

Aviation stocks rallied after Jet Airways announced its plans to off-load 24 percent stake to Abu Dhabi-based Etihad Airways for around $379 million (Rs.2,058 crore).

The Jet scrip at the BSE closed up 10.69 percent Thursday at Rs.635.20 per share from its previous close of Rs.573.85. The scrip had soared nearly 16.75 percent just after the opening of the day’s trade at Rs.699 per share at around 9.15 a.m. from its previous close.

Other listed airline stocks like SpiceJet and Kingfisher Airlines too gained. SpiceJet stock was up 18.24 percent or 5.70 points at Rs.36.95 per share from its previous close of Rs.31.25. While that of Kingfisher Airlines was trading up 0.88 percent or 0.06 points at Rs.6.91 per share from its previous close of Rs.6.85.

The major Sensex losers were: Wipro, down 2.20 percent at Rs.335.20, Tata Consultancy Services (TCS) , down 1.92 percent at Rs.1,402.10; Infosys, down 1.55 percent at Rs.2,227.05; Hindustan Unilever, down 0.34 percent at Rs.478.05 and ONGC, down 0.09 percent at Rs.326.35.

Among other Asian markets, Japan’s Nikkei closed 0.98 percent higher and Hong Kong’s Hang Seng went up by 1.63 percent. China’s Shanghai Composite Index closed lower by 0.86 percent.

In European markets: Britain’s FTSE 100 was trading 0.09 percent up and so was German DAX, up 0.64 percent. The French CAC 40 was also ruling 0.14 percent up.

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