Brisk buying brings back buoyancy to bourses

In addition, data showing fall in consumer price index in March 2009, besides firm cues from global markets also contributed to the upswing in key indices of BSE and NSE.  
During the month in question, consumer price index (CPI) stood at 8.03 per cent lower than 9.63 per cent in February 2009, while CPI for Industrial Workers (CPI-IW) remained static at 148. This also contributed positively for the rally in the market.  
Banking, IT, capital goods scrips and index heavyweight Reliance Industries (RIL) were the frontliners.
 However, volatility was high during the day and the market pared gains after a surge in afternoon trade.  It surged a bit in mid-afternoon trade with the Sensex hitting fresh intraday high and pared gains later before recovering from lower level. The popular Sensex at BSE jumped 300.51 points or 2.53 per cent to close at 12,173.42 points, which is its highest closing since October 3, 2008. The index rose 346.63 points at the day’s high of 12,219.54 in mid-afternoon trade and at the day’s low of 11,948.70, it went up 75.79 points in early trade.
The S&P CNX Nifty at National Stock Exchange was up 81 points or 2.25 per cent to settle at 3,674.45 in the closing this day. Nifty May 2009 futures were at 3684.95, at a premium of 13.3 points over the spot closing of 3671.65.
Turnover in NSE’s futures & options (F&O) segment rose to Rs 52853 crore from Rs 50988.41 crore on Thursday. BSE clocked a turnover of Rs 5,091 crore, higher than Rs 4,564.43 crore on May 14, 2009. The market breadth, indicating the overall health of the market, was strong. On BSE, 1,480 shares rose as compared with 1,085 that fell, while a total of 56 shares remained unchanged. From the 30-share Sensex pack, 25 stocks rose while rest fell.
Meanwhile, during the day Asian stocks climbed after Sony Corp. forecast a smaller loss than analysts expected and bank borrowing costs plunged.  Key benchmark indices in China, Hong Kong, Singapore, South Korea, Taiwan and Japan rose by between 0.2 to 1.96 per cent.  In Europe, key benchmark indices in France and UK were down by between 0.42 to 0.68 per cent.  Germany’s DAX fell 0.69 per cent. Trading in US index futures indicated the Dow could fall 30 points at the opening bell on May 15, 2009.