Sensex up 167 points; metal, bank stocks rally

Mumbai, Nov 30 (IANS) A benchmark index for Indian equities markets Friday was up 167 points following a healthy buying spree in metals, banks, oil and gas, capital goods and public sector undertakings (PSU) stocks.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 18,229.70 points, was ruling at 19,338.45 points around 12.50 p.m., up 167.54 points or 0.87 percent from its previous close at 19,170.91 points.

The gains came a day after the Sensex gained its 19 month high levels after an upgrade of Indian stocks by Goldman Sachs and hopes that the government would tide over the opposition in Parliament to foreign direct investment (FDI) in multi-brand retail saw the Sensex soaring 329 points Thursday.

The index on Friday touched a high of 19,345.56 points and low of 19,186.30 points intra-day. The BSE midcap index was up 78.30 points, the smallcap index was higher by 70.10 points.

The wider 50-scrip S&P CNX Nifty of the National Stock Exchange was up 44.00 points or 0.76 percent at 5,869.00 points.

The metals index was up 213.32 points, while the banks index edged higher by 159.56 points, followed by oil and gas index, up 121.89 points, capital goods index, up 111.98 points and PSU index, higher by 107.65 points.

However, the fast moving consumer goods (FMCG) index was down 15.88 points.

Among other Asian markets, Japan’s Nikkei rose 0.48 percent, while Hong Kong’s Hang Seng gained 0.71 percent. China’s Shanghai Composite Index was down 0.85 percent.

IANS 2012-11-30 13:14:07