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- By Parinda News Bureau, March 28, 2006, 09:52 IST
The Sensex at the Bombay Stock Exchange struck a fresh all-time high of 11,101 points. After slipping a bit from higher levels at the fag end of the session, on profit booking, the 30-share BSE Sensitive index finished 1.2 percent higher, at 11,079. The BSE Midcap and Smallcap indices advanced 1.3 percent, each. Market breadth was positive. At the National Stock Exchange, the broader Nifty jumped 42 points, or 1.3 percent, at 3,322.
Hindalco spurted over 3%, with the company saying that Aditya Birla Minerals, the company’s wholly owned Australian subsidiary, is seeking to raise about Australian 250 million dollars through offer of shares and subsequent listing on the Australian Stock Exchange.
Hindustan Lever and Tata Steel surged over 5%, each. ITC soared 4% on reports that the company is scouting for acquisition of a denim brand.
NTPC rose 1.1%, after the company said its board has accorded investment approval for the Korba Super Thermal Power Project - Stage III at a current estimated cost of 2,448 crore rupees.
ACC and ONGC rallied nearly 3% each. Bharti Tele advanced 2.6%. Cipla and Gujarat Ambuja added 2% each. Metal stocks were in action on renewed buying interest on high volumes, and the BSE Metal index jumped 3.9% on reports that steel companies will soon announce a price hike. Sail spurted 4.5%, JSW Steel was up almost 10%, Lloyds Steel surged over 9%, Uttam Galva Steel added 5.8% and Mahindra Ugine Steel rose 4.5%. Shares of the SBI associate banks continued to rally. All of them were locked in upper circuit filter with pending buy orders. SBI itself rose modestly. Tech major, Wipro slipped 2.2%.
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