Sensex rises 183 points to close above 17,000 (Roundup)

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 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 percent.

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 percent, 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 percent 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 percent; DLF, up 4.54 percent; Hero Honda, up 3.82 percent; Sterlite Industries, up 3.55 percent and Reliance Communications, up 3.05 percent.

Among losers were TCS, down 0.63 percent; Infosys, down 0.34 percent and NTPC, down 0.16 percent.

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 percent 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-percent growth in September, compared to 6 percent 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 percent 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 percent.

European markets were also trading in the green.

Britain’s FTSE 100 index was ruling 61.77 percent 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.