Public RelationsMarkets sign off in style
The markets ended the last day on a high note. Erasing the previous day"s losses and shrugging off the spike in food inflation, the Sensex gained 120 points to end at 17,464 and the Nifty conquered the 5200 barrier to close at 5208, higher by 39 points. Power, consumer goods and energy stocks powered the indices.
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After shedding 60% in the previous year, the Sensex scripted its most amazing turnarounds ever to add a whopping 80% in the year 2009.
Meanwhile, the food inflation rose to 19.83 per cent for the week ended December 19 on the back of a spurt in the prices of potato and pulses. In the second week of December, the food inflation was at 18.65 per cent.
Potato prices more than doubled and pulses became costler by over 41 per cent over the last year. Onion rates rose by 40.75 per cent. Prices of vegetables rose by 46.7 per cent while fruits became dearer by 10.35 per cent.
Jaiprakash Associates (stronger by Rs 4 or 3.2% at Rs 146), SBI (higher by Rs 44 or 1.9% at Rs 2269) and Bhel (up Rs 44 or 1.8% at Rs 2406) were the leading Sensex gainers on the day. M&M, Tata Power and Reliance were the other prominent achievers.
NTPC ended at a 52-week high of Rs 235 on hopes of divestment in the new year.
DLF (weakened by Rs 4 or 1.2% to Rs 361), Sun Pharma (shed Rs 11 or 0.7% at Rs 1507) and Maruti (dropped by Rs 10 or 0.6% at Rs 1559) were the major losers. Reliance Infrastructure consolidated its recent gains to end flat.
The market breadth was strong. Out of 2965 stocks traded on the BSE, there were 1669 advancing stocks as against 1210 declines.
SBI topped the value charts on the BSE with a total turnover of Rs 152.40 crore. This was followed by Tata Steel (Rs 130.85 crore), Reliance (Rs 78.75 crore), L&T (Rs 78.05 crore) and Tata Motors (Rs 65.46 crore).
Ispat Industries led the volume charts with trades of 9.28 million. It was followed by Suzlon (6.43 million), IFCI (4.86 million), Unitech (4.58 million) and Praj Industries (2.42 million).