Bank stocks take off
STOCKS REPORT
| During intra-day trades, the Sensex hit a low of 6,162.18 and a high of 6,215.02. |
| On the National Stock Exchange (NSE), the S&P CNX Nifty surged 18.55 points to settle at 1,982.15, off the day's high of 1,995.20. |
| Vipul Sanghvi, senior manager, institutional sales, Fortis Securities, said, "The demand was strong for banks and shipping companies. Traders are generally expecting strong results across the board." |
| Gainers outpaced losers in brisk trades. Of the 1,928 stocks traded on the BSE, there were 1,049 gainers and 817 losers. |
| Turnover on the BSE rose to Rs 2,989.55 crore from Rs 2,825.14 crore on Tuesday, even as 22.17 crore (20.54 crore) shares changed hands on Wednesday. |
| On the NSE, 36.72 crore (34.27 crore) shares worth Rs 6,135.13 crore (Rs 5,896.29 crore) were traded on Wednesday. |
| State Bank of India, the biggest commercial bank in the country, jumped 4.44 per cent to Rs 674.50, off a new life-time high of Rs 678.80 in intra-day trades, on hopes that a booming economy will help credit offtake and reduce the non-performing assets of the banks. |
| But Corporation Bank fell 5.17 per cent to Rs 259.50, off the day's high of Rs 289.50, after the bank posted disappointing quarterly earnings early afternoon. |
| Tata Motors edged up 2.65 per cent to close at Rs 507.85, off a new 52-week high of Rs 512.40 in intraday trades. |
| ITC added 3.36 per cent to Rs 1,135.15. Reliance Industries vaulted 1.68 per cent to Rs 597.40 on institutional buying interest. |
| Tata Power added 3.10 per cent to Rs 422.80. Bharti Tele-Ventures rallied 2.39 per cent to Rs 121.90, but off its day's high of Rs 125.75. |