It was an unbelievable run up in today's session with the momentum continuing in the markets and Sensex crossig the 19,000 level. It was a phenomenal day as Sensex saw the second highest single point day gain. Nifty did even better closing above 5650 levels. The ferrocity has been high and the gains were spread over broader markets as well. On Friday the markets took a breadther with Sensex dropping over 300 points but today it not only covered the loss but also went up scaling new peak.
The overall rally has been phenomenal as the bulls have got more heady pushing markets to new heights crossing some milestones in a very short span of time. The huge monetary flows and abundant liquidity continue to take markets at new peaks.
Haevyweights have nothched up further, metals were the top gainers in today's session. Some historic market caps were crossed by index pivitols.
ONGC's market capitalisation has hit Rs 2.5 lakh crore mark, it is the second company after Reliance to hit Rs 2.5 lakh crore mark. SAIL touched market capitalisation of 1 lakh crore.
Journey to 19,000:
SENSEX HITS 19,000
FASTEST EVER 1,000 POINT RALLY FOR SENSEX
TAKES 4 DAYS TO MOVE FROM 18,000 TO 19,000
CONTRIBUTION - RIL 153 PTS, ICICI BK 120 PTS, ONGC 119 PTS, L&T 108 PTS, BHARTI AIRTEL 96 PTS
TOP 5 STOCKS CONTRIBUTED 60% OF RALLY FROM 18K TO 19K
Sensex: Road to 19 K
19,000 Oct 15, 2007
18,000 Oct 9, 2007
17,000 Sep 26, 2007
16,000 Sep 19, 2007
15,000 July 6, 2007
14,000 Dec 5, 2006
13,000 Oct 30, 2006
12,000 Apr 20, 2006
11,000 Mar 21, 2006
10,000 Feb 6, 2006
9,000 Nov 28, 2005
8,000 Sep 8, 2005
7,000 Jun 20t, 2005
6,000 Feb 11, 2000
5,000 Oct 8, 1999
The obvious question in front of us now is where are the markets headed and what are the experts saying now.
G Devanathan of Rare Enterprises is of the view, "One should not have any targets to the upside but the way the market has moved today there is some more gains to go. At the same time the point to note is this kind of incredible speed is also too difficult to sustain but as of now the trend is up in fact at every fall the market has been textured and it has reasserted its uptrend in a defining manner so as long as the markets are continuing to make new highs one should just follow the trend. "
Metal continue to rally up with Tata Steel, Sesa Goa, Sterlite Ind, Hindalco among the major gainers. Stelite Industies was up 15%, Reliance Energy up 14%, ONGC, GAIL each up over 9% and Siemens up 8%.
Sensex was up 639.63 points or 3.47% at 19058.67, and the Nifty up 242.15 points or 4.46% at 5670.40.
About 2010 shares have advanced, 964 shares declined, and 73 shares are unchanged.
The BSE Small Cap Index closed at 9,311.97 up 2.4%.
The BSE Midcap Index ended at 7,716.91 up 2.5%.
BSE Metal Index was up 9.5%; SAIL up 16%, Sterlite up 15%, Tata Steel up 7.5%.
BSE Oil & Gas Index was up 4.8%; ONGC up 9.4%, GAIL up 9%.
The BSE FMCG Index closed at 2,156.65 up 1%. Bata India, United Spirits up 8% each followed by ITC, Colgate.
The BSE Capital Goods Index was up 3% at 17,119.70. Thermax,Punj Lloyd, Siemens, AIA Engineering Areva T&D, Jyoti Structure, L&T, Reliance Infra up over 5% each.
The BSE Auto Index closed at 5,613.37 up 2%. Maruti, Ashok Leyland, Tube Investments, Apollo Tyres, Hind Motors, Cummins, Escorts were among the gainers.
The BSE IT Index closed at 4,712.43 up 0.5%. Mphasis, Wipro, Patni Computer, HCL Tech, Satyam ended higher.
The BSE Bankex was up 4% at 9,706.81. Axis Bank up 9%, Yes Bank, Kotak Mahindra, Karnataka Bank, SBI, HDFC Bank, Bank of Baroda closed higher. The NSE cash turnover was at Rs 19592.17 crore and the NSE F&O turnover was at Rs 76830.02 crore. The BSE cash turnover was Rs 10391.09 crore. Total market wide turnover was at Rs 106813.28 crore.
The overall rally has been phenomenal as the bulls have got more heady pushing markets to new heights crossing some milestones in a very short span of time. The huge monetary flows and abundant liquidity continue to take markets at new peaks.
Haevyweights have nothched up further, metals were the top gainers in today's session. Some historic market caps were crossed by index pivitols.
ONGC's market capitalisation has hit Rs 2.5 lakh crore mark, it is the second company after Reliance to hit Rs 2.5 lakh crore mark. SAIL touched market capitalisation of 1 lakh crore.
Journey to 19,000:
SENSEX HITS 19,000
FASTEST EVER 1,000 POINT RALLY FOR SENSEX
TAKES 4 DAYS TO MOVE FROM 18,000 TO 19,000
CONTRIBUTION - RIL 153 PTS, ICICI BK 120 PTS, ONGC 119 PTS, L&T 108 PTS, BHARTI AIRTEL 96 PTS
TOP 5 STOCKS CONTRIBUTED 60% OF RALLY FROM 18K TO 19K
Sensex: Road to 19 K
19,000 Oct 15, 2007
18,000 Oct 9, 2007
17,000 Sep 26, 2007
16,000 Sep 19, 2007
15,000 July 6, 2007
14,000 Dec 5, 2006
13,000 Oct 30, 2006
12,000 Apr 20, 2006
11,000 Mar 21, 2006
10,000 Feb 6, 2006
9,000 Nov 28, 2005
8,000 Sep 8, 2005
7,000 Jun 20t, 2005
6,000 Feb 11, 2000
5,000 Oct 8, 1999
The obvious question in front of us now is where are the markets headed and what are the experts saying now.
G Devanathan of Rare Enterprises is of the view, "One should not have any targets to the upside but the way the market has moved today there is some more gains to go. At the same time the point to note is this kind of incredible speed is also too difficult to sustain but as of now the trend is up in fact at every fall the market has been textured and it has reasserted its uptrend in a defining manner so as long as the markets are continuing to make new highs one should just follow the trend. "
Metal continue to rally up with Tata Steel, Sesa Goa, Sterlite Ind, Hindalco among the major gainers. Stelite Industies was up 15%, Reliance Energy up 14%, ONGC, GAIL each up over 9% and Siemens up 8%.
Sensex was up 639.63 points or 3.47% at 19058.67, and the Nifty up 242.15 points or 4.46% at 5670.40.
About 2010 shares have advanced, 964 shares declined, and 73 shares are unchanged.
The BSE Small Cap Index closed at 9,311.97 up 2.4%.
The BSE Midcap Index ended at 7,716.91 up 2.5%.
BSE Metal Index was up 9.5%; SAIL up 16%, Sterlite up 15%, Tata Steel up 7.5%.
BSE Oil & Gas Index was up 4.8%; ONGC up 9.4%, GAIL up 9%.
The BSE FMCG Index closed at 2,156.65 up 1%. Bata India, United Spirits up 8% each followed by ITC, Colgate.
The BSE Capital Goods Index was up 3% at 17,119.70. Thermax,Punj Lloyd, Siemens, AIA Engineering Areva T&D, Jyoti Structure, L&T, Reliance Infra up over 5% each.
The BSE Auto Index closed at 5,613.37 up 2%. Maruti, Ashok Leyland, Tube Investments, Apollo Tyres, Hind Motors, Cummins, Escorts were among the gainers.
The BSE IT Index closed at 4,712.43 up 0.5%. Mphasis, Wipro, Patni Computer, HCL Tech, Satyam ended higher.
The BSE Bankex was up 4% at 9,706.81. Axis Bank up 9%, Yes Bank, Kotak Mahindra, Karnataka Bank, SBI, HDFC Bank, Bank of Baroda closed higher. The NSE cash turnover was at Rs 19592.17 crore and the NSE F&O turnover was at Rs 76830.02 crore. The BSE cash turnover was Rs 10391.09 crore. Total market wide turnover was at Rs 106813.28 crore.
Source:moneycontrol.com
