Markets Today

It was a strong pullback rally for the markets through the day after last few sluggish sessions. Huge buying seen in realty, banking, capital goods, power, technology, oil, pharma and metal stocks after got beaten down heavily for the last few days. Global cues have not played a much role today. The Sensex has remained above 15000 mark in an intraday trade. The Nifty had hovered around 4500 during the day but managed to close above that mark.
Ranbaxy Laboratries was one of the top traded counter among Reliance Industries, DLF, BHEL and Bharti Airtel as Ranbaxy has entered into big deal with Japanese pharmaceutical company, Daiichi Sankyo, which agreed to buy entire 35% stake of Promoters in the Ranbaxy. Daiichi is aiming to increase stake to 50.1%. The deal will close by March 2009. After this deal, Daiichi will make open offer at Rs 737 per share.
The Sensex closed at 15,185.32, up 1.99% or 296.07 points after hitting an intraday high of 15,225.81 and low of 15,009.48. The Nifty has touched a high/low of 4541.05 and 4468.05, respectively. It was up 1.66% or 73.8 points to settle at 4523.60.
Healthcare Index was up 0.8% to finish at 4,447.24. Pharma stocks like Orchid Chemical, Sun Pharma Adv, Aurobindo Pharma, Cipla, Sterling Bio, Matrix Labs, Pfizer and Dr Reddy's Labs have witnessed huge buying interest.
Realty Index has outperformed other indices in today's session and shown smart recovery as it had hit very badly in last few sessions. Index shot up 3.07% or 173.05 points to close at 5,803.66 on the back of buying in Omaxe, Akruti City, Peninsula Land, DLF, Puravankara Projects, HDIL and Unitech.
Capital Goods was another beaten down sector, which rebounded sharply. Index surged by 283.92 points or 2.44% to settle at 11,901.49 as buying seen in BHEL, Jyoti Structures, Crompton Greaves, Punj Lloyd, BEML and L&T.
Bankex jumped 2.27% or 156.09 points at 7,018.42. Banking stocks like Bank of India, Union Bank, HDFC Bank, Bank of Baroda, Axis Bank, SBI, Kotak Mahindra and ICICI Bank have gained.
Power stocks like NTPC, Reliance Infra, Tata Power and Suzlon Energy have got strengthened. Index charged up by 45.96 points or 1.76% at 2,652.92.
BSE IT Index ended at 4,357.43, up 1.72% due to strong buying in Tech Mahindra, Infosys, HCL Tech, TCS and Satyam.
Oil & gas stocks like Reliance Industries, Petronet LNG, Essar Oil, RNRL and IOC have closed in green due to which index inched up by 1.46% or 141.02 points at 9,832.24. However, selling seen in BPCL, Cairn India, HPCL and GAIL. Nymex Crude was trading above USD 134 per barrel.
Metal stocks like Guj NRE Coke, Hind , SAIL, Jindal Steel and Tata Steel have helped the index to close with gain of 134.88 points or 0.88% at 15,400.80.
Auto Index jumped 0.79% to settle at 4,152.31 on account of buying in Hero Honda, Hind Motors, Ashok Leyland, Bharat Forge, M&M and TVS Motor.
However, FMCG Index fell just 0.35% at 2,268.53 due to selling in United Spirits, Colgate, Britannia, ITC and Hindustan Unilever. However, other FMCG stocks like United Breweries, Marico, Dabur India, Nestle, Tata Tea and P&G closed in green.
Midcap Index shot up by 1.42% at 6,190.72. In the midcap space, Fortis Healthcare, Orchid Chemical, PSL, Bombay Dyeing, Religare Enterp, United Breweries, Deccan Chronicles, Vishal Retail, Deccan Aviation, Sun Pharma Adv and Aurobindo Pharm advanced over 7%.
Small Cap Index was up 126.14 points or 1.72% to settle at 7,467.30. Small cap stocks like Zenotech Labs, Dynamatic Tech, Khaitan Electri, Natco Pharma, Kewal Kiran, JMC Projects, Guj Sidhee Cem, Ratnamani Metal, Fortis Financia, NIIT Tech, Emco and Midday Multi went up over 9%.
Turnover traded by the markets for the day stood at Rs 64249.93 crore. This includes Rs 13169.37 crore from NSE Cash segment, Rs 45775.86 crore from NSE F&O and Rs 5304.7 crore from BSE Cash segment.
Source: moneycontrol.com