Sensex gains 111 pts in muhurat session, ends past 21,000 mark; Nifty inches closer towards all-time high

Last Updated: Fri, Nov 05, 2010 14:34 hrs

The market remained fairly upbeat right through the 45-minute duration of the session that marked the beginning of Samvat year 2067 this evening, with investors indulging in some strong buying in a few front line stocks. Movements, for the major part of the short session, remained sideways due largely to lack of action from institutional investors.

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Though European markets exhibited weakness today, a firm close in most of the markets in the Asian region proved a strong enough trigger for the investors this evening.

The US Federal Reserve's decision to buy $600 million in government bonds to buoy up the US economy had lifted stock prices across global markets to impressive levels on Thursday. With the bulls at the Indian ring turning in a splendid performance, the Sensex had ended with a handsome gain of 427 points that day.

The Sensex ended the muhurat session with a gain of 111.39 points or 0.53% at 21,004.96, its best close in history. The barometer, which opened with a positive gap of over 150 points at 21,045.66, surged to 21,108.64. From its current level, the Sensex is just about 200 points off the historic high of 21,206.77 it had touched on 10 January 2008.

The Nifty index of the National Stock Exchange, which rose to 6338.50 and looked all set to breach its previous best of 6347, ended at 6312.45, netting a gain of 30.65 points or 0.49%.

Jaiprakash Associates ended stronger by 4.4%. Hindalco gained around 2.75%. Mahindra & Mahindra, State Bank of India, Hindustan Unilever, Cipla, Tata Motors and Bharti Airtel gained 1% - 1.7%.

Hero Honda, Tata Consultancy Services, NTPC, ICICI Bank, ONGC, BHEL, Wipro, Maruti Suzuki, DLF and Tata Steel chipped in with modest gains.  Tata Motors, State Bank of India and Hindalco hit new all-time highs ahead of results.

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Dish TV India, IL & FS Transport, Glaxo Smithkline Pharmaceuticals, Glenmark Pharmaceuticals, Jain Irrigation Systems, Indiabulls Financial Services, IDBI Bank, EIH, Torrent Power, Sun Pharmaceuticals, Thermax and Jubilant Life ended with strong gains.

Coal India, which made a sparkline debut on Thursday, extended its gains. The stock, which rose to Rs 357.60 on BSE, ended at Rs 349.65, up 2.15% on the session.

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