Sensex Up 47%, Sixth Yearly Rise

123jump.com Staff
31 Dec, 2007
New York City

The Sensex index in Mumbai traded rose 0.4% or 80.04 to close at 20,286.99. For the year 2007 Senssex rose 47.1%. Braoder index, CNX Nifty 50 rose 1% to close at 6,138.60 and for the year surged 55%. Reliance Communication and Idea Cellular gained in the session. Gold and silver rose in the session on the rising international prices. Bharti Airtel surged 5% after Temasek of Singapore led investor group plan to invest $1 billion in the infrastructure subsidiary.

[R]10:00AM New York, 7:30PM Mumbai-Sensex ended higher on the last day of 2007 trading calendar.[/R]

The Bombay Stock Exchange benchmark index Sensex rose 0.4% or 80.04 to 20,286.99. During the day, the 30-share index moved in a range of 20,239.63 and 20,323.28 levels.

The index had reached the record level of 20,498.11 on 13th December 2007. During the year, the BSE Sensex surged 47.1% or 6,500.08 from its close of 13,786.91 on December 29, 2006.

Communications shares lifted the BSE market with Reliance Communication and Idea Cellular recording gains. Among the shares on the BSE shares, 2,496 advanced, 387 shares declined and 17 remained unchanged.

Of the 30-share index, 15 stocks advanced while the rest retreated. Turnover on the BSE was at 8,977 rupees while revenue recorded on the National Stock Exchange stood at 19,185 crore rupees.

The broader index CNX Nifty surged 1% or 59 to 6,138.60. The 50-share index reached all time high of 6,185.40 on December 13, 2007. During year 2007, the Nifty advanced 54.8% or 2172.20.

Gold prices rallied to an all-time high of 10,715 rupees on the bullion market on fresh buying on the back of sharp rise in international prices. Standard gold (of 99.5 purity) surged 105 rupees per 10 grams to an all-time closing high of 10,715 rupees from the yesterday's level of 10,610 rupees. At record high, gold closed at 10,695 rupees on November 26, 2007.

Silver also shot up on sustained industrial demand. Silver (.999 fineness) increased by 90 rupees per kilo to 19,455 rupees against 19,365 previously.

Of the BSE shares, Bharti Airtel surged 5.03% to 988 rupees on news reports that a clutch of international investors, led by Singapore's Temasek Holdings, are investing $1 billion in its subsidiary Bharti Infratel. Bharti Airtel has a 100% controlling stake in the company.

Reliance Communication surged 1.2% to 741.15 rupees while Idea Cellular posted an increase of 6.4% to 140 rupees.

Oil refiner Reliance Industries dropped 0.6% to 2881.7 rupees on 5.29 lakh shares.

ITC climbed 2.4% to 210.5 rupees and Ranbaxy Laboratories surged 1.9% to 423.5 rupees.

HDFC fell 1.9% to 2868 rupees and it led the losers in the Sensex index.

Wipro shed 1.7% to 521.1 rupees, Satyam Computers slid 0.6% to 446.25 rupees while Infosys Technologies slipped 1.8% to 1763 rupees.

Stocks of state controlled petroleum companies surged on the news reports that the government is likely to finalize price increase during the second week on January meeting of ministers.

Indian Oil Corporation added 6.9% to 790 rupees, Bharat Petroleum Corporation advanced 10.7% to 523 rupees and Hindustan Petroleum Corporation gained 6.3% to 364.5 rupees.

India Infoline was up 8.3% to 1921 rupees, Edelweiss Capital surged 5.5% to 1,607 rupees, Motilal Oswal Financial Services advanced 5.6% to 1,860 rupees and Religare Enterprises jumped 10% to 607.5 rupees.

Axon Infotec, GIC Housing Finance, Jayant Agro Organics and Gati surged 20% each at 90.3 rupees, 98.1 rupees, 20.3 rupees and 184.9 rupees respectively.

Era Construction slid 10% to 816 rupees, Garnet International shed 8.2% to 111.75 rupees, and Core Projects slid 7% to 423 rupees.

Brigade Enterprises settled at 378 rupees, a discount of 3.07% over the Initial Public Offer price of 390 rupees. The stock debuted at 399.7 rupees, a premium of 2.5% over the IPO price. During the day, the stock moved in a range of 409.4 rupees and 365.8 rupees.

eClerx Services settled at 447.5 rupees on BSE, a premium of 42.06% over the IPO price of 315 rupees. During the trading sessions, the share moved in a range of 466.8 rupees and 320 rupees.

Industrial Finance Corporation of India soared 12.6% to 92 rupees on hopes of re-bidding for a 26% strategic stake sale in the firm. Housing Development and Infrastructure surged 4% to 1,087 on reports the company is planning to set up a 5,547-acre special economic zone in Vasai-Virar region near Mumbai.

Rashtriya Chemicals & Fertilizers climbed 55 to 117.95 rupees after the company announced that it has signed a memorandum of understanding with GAIL India for setting up coal gasification project in Talcher, Orissa.

Bata India surged 12.8% to 289 rupees on new reports that Reliance Industries' subsidiary Reliance Retail has entered into a strategic alliance with the company to jump-start its footwear retail store chain.