Stock Market Updates for Today (25th July '11)
Hectic buying in heavyweight Reliance Industries and telecom majors Reliance Communications and Bharti Airtel and a few other blue chips, lifted the market that was struggling for close to four hours despite having staged a recovery of sorts after a weak start, to a fairly buoyant close today.
Weakness in Asian and European markets amid growing worries about the U.S. economy following the delay in deciding on hiking the country's debt limit. Caution ahead of some key results and the central bank's monetary policy review, due for release on Tuesday, contributed to the lackluster moves till an hour past noon.
However, with investors turning a bit aggressive and going on a buying spree in telecom stocks, the market gradually started looking up, and gained in strength with Reliance Industries and a few other front line stocks joining the rally up north.
The Sensex, which zoomed to 18,932.27 from a morning low of 18,670.84, ended the session at 18,871.29 with a gain of 148.99 points or 0.8%, while the Nifty settled at 5680.30, around 20 points off the day's high of 5700.55, recording a gain of 46.35 points or 0.82%. The NSE benchmark touched a low of 5616.70 during the day.
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