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Sensex moves above 14400; realty, power gain - Sathish - 06-24-2009

MUMBAI: Sustained buying in the frontline stocks pushed the benchmarks towards day’s high while broader markets continued to outperform. Most sectoral indices were in the green led by realty and power scrips. Positive opening of European markets also provided support.

At 2 pm, Bombay Stock Exchange’s Sensex was at 14,410.97, up 86.96 points or 0.61 per cent. The 30-share index touched an intra-day high of 14458.13 and low of 14207.02.

National Stock Exchange’s Nifty failed to breach 4300 mark. The index was at 4294.65, up 47.65 points or 1.12 per cent. The broader index retreated from a high of 4299. It had touched a low of 4218.25 in trade so far.

BSE Midcap Index was up 2.04 per cent and BSE Smallcap Index gained 2.07 per cent.

Amongst the sectoral indices, BSE Realty Index moved up 2.16 per cent, BSE Power Index gained 2.03 per cent and BSE Healthcare Index jumped 1.80 per cent. BSE Bankex was down 0.23 per cent.

TCS (5.32%), Jaiprakash Associates (4.25%), Grasim (3.87%), Tata Motors (3.85%) and Sun Pharmaceuticals (3.58%) were amongst the Sensex gainers.

Sterlite Industries (-2.10%), ICICI Bank (-1.28%), HDFC (-1.08%), HDFC Bank (-0.91%) and Mahindra & Mahindra (-0.17%) were amongst the Sensex losers.

Market breadth was positive on the BSE with 1724 advances and 724 declines.

European markets were in the green arresting two-day fall following rise in tech, energy and mining stocks. CAC 40 was up 0.28 per cent, DAX inched up 0.25 per cent and FTSE 100 was down 0.05 per cent.