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Friday, 18 July 2008

Sensex closes 500 points up

MUMBAI: Market continued its northward journey Friday powered by lower than expected inflation figures and lower crude oil prices. Interest sensitive sectors like banks and real estate were the major gainers.

Bombay Stock Exchange’s Sensex closed at 13635.40, up 523.55 points or 3.99 per cent. It touched a high of 13684.27 and low of 13093.34.

National Stock Exchange’s Nifty ended at 4078.85, up 3.34 per cent or 104.90 points. The broader index touched a high of 4,110.55 and low of 3,926.30.

Tier II and III stocks under performed the benchmarks. BSE Midcap Index closed 1.63 per cent high at 5239.39 and BSE Smallcap Index ended 1.08 per cent up 6,455.89.

Biggest Sensex gainers were ICICI Bank (12.46%), HDFC (10.13%), Jaiprakash Associates (8.86%), HDFC Bank (7.54%), Bharti Airtel (7.5%) and DLF (6.51%).

Thanks: ET

Losers comprised Satyam Computer (-7.5%), Wipro (-4.42%), Ranbaxy Laboratories (3.72%), Tata Steel (3.38%) and Infosys Technologies (1.51%).

Market breadth on BSE showed 1608 advances and 985 declines, while on NSE, there were 849 gainers and 349 losers.

Data released after market closed on Thursday showed annual inflation at 11.91 percent in early July, slightly higher than the previous week's 11.89 percent, but below market expectations for more than 12 percent.

Oil prices bounced above $130 a barrel on Friday as buyers came back into the market after a more than 10 per cent slide in three days. But prices are still well below the record high of $147.27 on July 11.

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