Sensex up 400 points, makes up for Tuesday’s losses (Roundup)

Mumbai, April 29 (Inditop) Indian equities markets closed high up in the green Wednesday – a day before the futures and options contract expires – as bulls broke out into a rally to regain Tuesday’s losses. A key index soared 401.5 points from its previous close, making up for its losses Tuesday.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 11,091.56 points, rose 401.5 points or 3.65 percent from the previous close to end trade at 11,403.25 points.

Similarly, the S&P CNX Nifty of the National Stock Exchange (NSE) gained 3.23 percent to close at 3,473.95 points.

Broader market indices also gained, with the BSE midcap index moving up 1.83 percent, and the BSE smallcap index rising 1.35 percent.

With futures and options contract expiring Thursday, investors bought stocks to cover up their positions, helping key indices rise further up.

All the 13 sectoral indices on the BSE were in the positive terrain, with the indices for IT, banking, and telecom stocks gaining the most.

Among gainers on the Sensex were ICICI Bank, up 8.74 percent at Rs.477.75; Jaiprakash Associates, up 6.85 percent at Rs.138.80; Sterlite, up 6.75 percent at Rs.409.05, and Tata Power, up 6.6 percent at Rs.893.95.

Only one scrip slipped into the red on the Sensex – Grasim, down 0.54 percent at Rs.1,778.40.

The overall market sentiment was positive, with 1,433 stocks advancing, 1,025 declining and 88 remaining unchanged.

Other Asian markets gave out mixed signals, with a key Japanese index – the Nikkei of the Tokyo Stock Exchange – losing 232.57 points to close at 8,493.774 points, and the Hang Seng, a key index of the Hong Kong Stock Exchange, ruling in the green at 14,956.95 points, 401.84 points above its previous close.

European markets were also trading in green territory, with the FTSE in Britain ruling 56.38 points higher than its previous close, and its French peer CAC 40 ruling 33.62 points up.