04 February,2009 05:35 PM IST | | PTI
The Bombay Stock Exchange benchmark Sensex gained for the second straight day on Wednesday by adding over 52 points on sustained buying in heavy-weight stocks led by the metal and realty sectors.
The Sensex, which rose 82 points in the previous day's trading, added another 52.55 points at 9,201.85, after touching the day's high of 9,338.21 and a low of 9164.16 points.
The 50-share National Stock Exchange index Nifty rose by 19.15 points at 2,803.05, after moving between 2,842.20 and 2,780.70 points.
Buying activity was more confined to the metal sector as metals prices climbed and on expectations that increased stimulus spending in the US and China may boost profits.
Brokers said that China, being the biggest user of base metals, would lift earnings of leading metal producers such as Sterlite, Hindustan Zinc and National Aluminium.
The metal sector index gained the most by rising 2.99 per cent at 4,944.49 as Sterlite, the country s largest copper producer, advanced 4.41 per cent to Rs 279.35.
Asian markets rose for a second day, spurred by data showing China's manufacturing sector may be bottoming out and a surprise rise in US pending home sales, provided hopes for a recovery in Asia's exports, marketmen said.
Brokers said the governments around the world are boosting efforts to revive the global economy.
Controversial Satyam Computer Services dropped by 6.79 per cent to Rs 50.10 following reports that Larsen and Toubro, which hiked its stake in the IT major, might offer Rs 50 a share for stocks it doesn't own in Satyam.
The realty sector index was the second-best performer, rising 1.18 per cent to 1,398.79, as speculators bought stocks of DLF Ltd, Akruti City and Omaxe Ltd, available at attractive lower levels.
Realty stocks remained major sufferers in the last few sessions and touched recent lows. The oil and gas index rose 0.73 per cent at Rs 6,190.18, the Teck index 0.67 per cent to 1,786.64, the PSU index 0.60 per cent to 5,014.94, the power index 0.43 per cent to 1,733.65, and the FMCG index 0.23 per cent to 2,044.98.
The auto index rose 0.15 per cent to 2,465.58, the capital goods index 0.13 per cent to 6106.91, and the IT index by 0.04 per cent to 2,196.00.
The banking index remained unchanged at 4,674.03, the healthcare index fell 0.35 per cent to 2,652.54 and consumer durable index by 2.72 per cent to 1,610.24.
