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Markets: Big gains for third day

March 03, 2010 16:04 IST

Bombay Stock ExchangeMarkets surged for the third straight day on a strong Budget reaction and export data, taking the Sensex over the 17,000 mark after January 21.

The Sensex touched a high of 17,012 and finally ended at 17,000 - up 227 points (1.3%). The Nifty, retained the 5,000 level and ended at 5,088 -- up 71 points.

Exports in January grew as services and manufacturing activity jumped.

The Budget underdogs had their day as realty and oil stocks rose.

The oil & gas and realty indices jumped 2% each to 9,826 and 3,317, respectively.

All other sectoral indices were also in the green. The power, FMCG and banking stocks jumped 1-2% each.

Reliance surged 4 % to regain the four-digit mark after bankrupt LyondellBasell rejected the takeover bid. The stock ended at Rs 1,022.

Gail India added 2% to Rs 400. Essar Oil was up 1% at Rs 135.

Among realty stocks Ansal Properties jumped 4% to Rs 72. Sensex stocks - Unitech and DLF were up over 2% each at Rs 76 and Rs 298, respectively. Indiabulls Real Estate, Mahindra Lifespace Developers and Sobha Developers also gained.

Jaiprakash Associates surged 6% to Rs 145. Tata Power rallied 5% to Rs 1,335 on plans to raise the mining capacity. NTPC advanced 2% to Rs 1,076.

HDFC Bank, SBI and ICICI Bank added over 1% each. Other gainers included Hindustan Unilever, HDFC, Grasim and Tata Motors.

ITC moved up 1% to Rs 245 after declaring a rise in cigarette prices.

However, ONGC slipped over 1% to Rs 1,100. Maruti Suzuki was down 1% at Rs 1,477.

BS Reporter in Mumbai
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