Sensex ends fiscal 2013 on positive note, rises 131 pts

Key benchmark indices on Thursday surged amid choppy trade as investors rushed into value-buying in metal and banking sectors on the last trading session of fiscal 2013.

Domestic equities gained in two of three trading sessions in the truncated week ended March 28, 2013. Index heavyweight Reliance Industries (RIL) edged lower in choppy trade, while bank stocks rose. So was capital goods stocks that surged on bargain hunting after recent losses. Metal stocks too surged in late trade.

In fact, both the popular indices of BSE and NSE attained their highest closing level in over one week.

The Sensex at BSE jumped 131.24 points or 0.7 per cent to close at 18,835.77 points, while CNX Nifty at NSE settled to 5686.65, which is up 45.05 points or 0.80 per cent in the day’s closing.

Market breadth positive

The total turnover on the last day of 2012-13 on BSE amounted to Rs 3,086 crore, which is higher than Rs 1,661.57 crore on Tuesday last. The market breadth, indicating the overall health of the market, was positive with as many as 1,625 shares on BSE rising and 1,149 scrips falling, while a total of 123 stocks remained static or unchanged.

India Infoline head of research Amar Ambani said, “We expect the Nifty to continue with the upward momentum in the coming days. A close above 5,720 would further accelerate the bullish stance.”

From a 52-week high of 20,203.66 on January 29, 2013, the Sensex at BSE has declined 1,367.89 points or 6.77 per cent and from a 52-week low of 15,748.98 on June 4, 2012, it has surged 3,086.79 points or 19.59 per cent.