Sensex crosses 15k on global cues, dipping oil

The Bombay Stock Exchange’s benchmark Sensex on Wednesday regained the 15,000-level after nearly six weeks by extending its gains by more than 110 points on strong global cues amid easing crude oil prices to close at 15,073.54 points.

The benchmark, which rose by 383 points yesterday, added another 112.47 points to regain the 15,000-level. The key index touched the day’s high of 15,422.82 and a low of 15,035.60. Of the 30 Sensex stocks, 20 of them closed higher.

The wide-based National Stock Exchange index Nifty moved between 4,615.90 and 4,503.90 before ending at 4,517.55, a rise of 14.70 points.

Reliance Industries and other blue-chips such as Infosys, Bharti Airtel, Maruti Suzuki, Bhel, Larsen and Toubro, HDFC Bank and ICICI Bank posted gains. Market participants said buying activity gathered momentum following a sharp upsurge in the US stock markets on falling crude oil prices, which have eased concerns over inflation.

However, a steep fall in metal stocks pulled down the market in the last one hour, only to reduce the gains. The metal sector index dropped by 405.64 points, or 3.06 per cent, to 12,859.19 as sectoral stocks such as Tata Steel, Jindal Steel, JSW Steel, Nalco, NMDC, Sesa Goa and SAIL lost substantial ground.

A steep rise in the capital goods index, which gained 203.11 points to 12,482.88, averted any major fall in the benchmark Sensex. Auto index was the best performer, closing 2.63 per cent higher. Segment major Maruti Suzuki spurted by Rs 38.40 at Rs 652.80, while Tata Motors gained by Rs 17.65 at Rs 426.70.

Consumer goods index was next best, rising by 1.65 per cent at the close. IT and FMCG were other major indices, which ended in the green. PSU, power and realty also closed weak in the range of 1 per cent.