The bulls staged a strong comeback helping markets close with hefty gains. The day started flat with buying seen in midcaps and smallcaps but moved ahead with heavy buying seen in frontline banking, power, capital good stocks. Sensex was up 350 points and the Nifty has scored almost a century ending near 5,700 mark.
On the macroeconomic front, the positive trigger being the Left has given the nod to government to proceed negotitations with IAEA on Nuke deal.
Power stocks surged Areva T&D was up 20%, Alstom Projects up 10%, Voltamp Transformers up 8%, NTPC was up 7%, L&T up 5.6%, BHEL 4.5% and Tata Power was up 4%.
Heavies like SBI, HDFC Bank, L&T, Tata Steel Reliance Ind, NTPC were helping the markets trading higher.
Broader markets have held out their gains and both midcap and smallcap indices were up 2% each. However, the IT stocks were still under pressure.
Among the frontliners HDFC Bank was up over 6%, MTNL up over 4%, HDFC, SBI, Suzlon each up over 4%. ICICI Bank, Tata Steel, Tata Motors, Maruti were up over 3% each.
Sensex was up 298.21 points or 1.59% at 19035.48, and the Nifty up 78.30 points or 1.39% at 5695.40.
About 1982 shares have advanced, 1001 shares declined, and 82 shares are unchanged.
The BSE Midcap Index ended at 8,113.72 up 2%.
The BSE Smallcap Index ended at 9,801.29 up 2%.
The BSE Bankex was up 3.5% at 10,538.05. HDFC Bank, Axis Bank, Bank of India, Bank of Baroda, IOB moved upwards.
The BSE Capital Goods Index was up 3.4% at 20,292.56. Areva T&D, Alstom Project, Bharat Bijlee, Bharat Elec, Gammon India closed higher.
The BSE Auto Index closed at 5,136.25 up 0.5%. Punj Tractors, Bharat Forge, Amtek Auto, Exide Industrie closed higher.
The BSE Metal Index closed at 17,046.73 up 1.6%. Mah Seamless, JindalStainless, Jindal Steel, SAIL, Tata Steel closed higher.
The BSE FMCG Index closed at 2,068.66 up 0.6%. Bata India, United Spirits, Colgate, Marico closed higher.
BSE Oil and Gas Index closed at 11,408.93 up 0.4%. Reliance Natura, BPCL, Reliance , Reliance Petro, Petronet LNG ended higher.
The BSE IT Index was at 4,095.73 down 1%. IT companies continue to hit 52 week lows; Infosys, TCS, Patni, Tech Mahindra, Hexaware hit 52 week low.
The NSE cash turnover was at Rs 19630.58 crore and the NSE F&O turnover was at Rs 67336.02 crore. The BSE cash turnover was Rs 7941.03 crore. Total market wide turnover was at Rs 94907.63 crore.
On the macroeconomic front, the positive trigger being the Left has given the nod to government to proceed negotitations with IAEA on Nuke deal.
Power stocks surged Areva T&D was up 20%, Alstom Projects up 10%, Voltamp Transformers up 8%, NTPC was up 7%, L&T up 5.6%, BHEL 4.5% and Tata Power was up 4%.
Heavies like SBI, HDFC Bank, L&T, Tata Steel Reliance Ind, NTPC were helping the markets trading higher.
Broader markets have held out their gains and both midcap and smallcap indices were up 2% each. However, the IT stocks were still under pressure.
Among the frontliners HDFC Bank was up over 6%, MTNL up over 4%, HDFC, SBI, Suzlon each up over 4%. ICICI Bank, Tata Steel, Tata Motors, Maruti were up over 3% each.
Sensex was up 298.21 points or 1.59% at 19035.48, and the Nifty up 78.30 points or 1.39% at 5695.40.
About 1982 shares have advanced, 1001 shares declined, and 82 shares are unchanged.
The BSE Midcap Index ended at 8,113.72 up 2%.
The BSE Smallcap Index ended at 9,801.29 up 2%.
The BSE Bankex was up 3.5% at 10,538.05. HDFC Bank, Axis Bank, Bank of India, Bank of Baroda, IOB moved upwards.
The BSE Capital Goods Index was up 3.4% at 20,292.56. Areva T&D, Alstom Project, Bharat Bijlee, Bharat Elec, Gammon India closed higher.
The BSE Auto Index closed at 5,136.25 up 0.5%. Punj Tractors, Bharat Forge, Amtek Auto, Exide Industrie closed higher.
The BSE Metal Index closed at 17,046.73 up 1.6%. Mah Seamless, JindalStainless, Jindal Steel, SAIL, Tata Steel closed higher.
The BSE FMCG Index closed at 2,068.66 up 0.6%. Bata India, United Spirits, Colgate, Marico closed higher.
BSE Oil and Gas Index closed at 11,408.93 up 0.4%. Reliance Natura, BPCL, Reliance , Reliance Petro, Petronet LNG ended higher.
The BSE IT Index was at 4,095.73 down 1%. IT companies continue to hit 52 week lows; Infosys, TCS, Patni, Tech Mahindra, Hexaware hit 52 week low.
The NSE cash turnover was at Rs 19630.58 crore and the NSE F&O turnover was at Rs 67336.02 crore. The BSE cash turnover was Rs 7941.03 crore. Total market wide turnover was at Rs 94907.63 crore.
Source:moneycontrol.com
