Sensex rises 183 points to close above 17,000

Mumbai, Nov 16: Strong global sentiments, the positive weekend numbers on industrial output and cues from the government on its divestment plans helped Indian equities make handsome gains on Monday, with a key index rising 183 points to close above the 17,000-mark.

The sensitive index (Sensex) of the Bombay Stock Exchange (BSE) opened higher at 16,893.11 points against Friday’s close at 16,848.83 points and ended trade at 17,032.51 points, up 183.68 points or 1.09 per cent. The index had seen an intra-day high of 17,083.2 points, but shed some gains in the last 30 minutes.

At the National Stock Exchange (NSE), the broader 50-share S&P CNX Nifty breached the 5,000-point mark to shut shop at 5,058.05 points, with a gain of 1.18 per cent, over the previous close at 4,998.95 points. Broader market indices also closed in the green, with the BSE midcap index ended trade at 1.14 percent higher and the BSE small cap index 1.22 per cent up.

The market breadth was positive, with 1,758 stocks advancing, 1,017 declining and 89 remaining unchanged. Out of 30 stocks on the Sensex, 20 ended on the gainers list. Prominent among them were Maruti Suzuki, up 5.45 per cent, DLF, up 4.54 per cent; Hero Honda, up 3.82 per cent; Sterlite Industries, up 3.55 per cent and Reliance Communications, up 3.05 per cent. Among losers were TCS, down 0.63 per cent; Infosys, down 0.34 per cent and NTPC, down 0.16 per cent.

The government had Friday said all ministries had been asked to compile a list of state-run firms for sale of stake and listing on stock exchanges, even as it expected partial divestment in at least three such firms by the end of this fiscal. Disinvestment Secretary Sunil Mitra said as per data available for 2007-08, there were 10 listed state-run firms with less than 10 per cent public holding, while 50 others met the criteria for divestment in terms of profits and net worth. Statistics on India’s industrial production a day earlier showed a 9.1-per cent growth in September, compared to 6 per cent in the corresponding month last year, in yet another sign of economic recovery in the country.

Other Asian markets also ended on a firm note.

The primary index of the Hong Kong Stock Exchange, Hang Seng, was 390.35 points or 1.73 per cent higher at 22,943.98 points. The Nikkei, a key index of the Tokyo Stock Exchange, closed at 9,791.18 points, up 20.87 points.

In China, the Shanghai Stock Exchange composite index shut shop at 3,275.05 points, up 2.74 per cent. European markets were also trading in the green.

Britain’s FTSE 100 index was ruling 61.77 per cent higher at 5,358.15 points, while its French peer, CAC 40, was trading 34.89 points up at 3,840.9 points. The German index, DAX, was ruling 62.32 points up at 5,749.15 points. (IANS)