New Delhi: It was a good day for the markets as they traded strong and ended higher. There were no signs of volatility or weakness, the markets were riding on the back of strong Asian markets.
The Sensex opened with a huge positive gap of 158 points at 13,954, and zoomed to a high of 14,026 in early deals. The index closed on a positive note with a gain of 170 points at 13,966.
The rally was also seen in midcap and smallcap stocks making gains inline with the frontline indices. The markets breadth was in favour of the advances.
It was a power pack performance by the heavyweights like ONGC, Reliance, SBI and HLL. All the BSE sector indices closed in green. Select two wheeler auto and IT stocks closed weak. The IT stocks ended lower due to the strengthning rupee against the dollar. Banking, metal, oil & gas stocks were leading the uptrend.
Sensex closed up 169.70 points or 1.23% at 13965.86, and the Nifty up 57.65 points or 1.41% at 4134.3. The BSE Bankex, and Oil & Gas and PSU indices gained over 2 per cent to close at 7074, 7354 and 6533, respectively. The market breadth was extremely bullish - out of 2,642 scrips traded, 1,641 logged gains and 916 declined.
SBI gained nearly 5 per cent (Rs 56) to close at Rs 1,206. ICICI Bank moved up 2.5 per cent to Rs 870. Reliance moved up nearly 2 per cent (Rs 31) to Rs 1,621. ONGC was up 2 per cent at Rs 907.
Tata Steel gained nearly 4 per cent to Rs 591. Gujarat Ambuja advanced 3.7 per cent to Rs 124. HLL was up over 3 per cent at Rs 192. Dr Reddy's slipped over 4 per cent to Rs 655. Bajaj dropped 2 per cent at Rs 2,660, and Hero Honda also declined 2 per cent to Rs 690.
Bongaigon Refineries zoomed nearly 10% to Rs 53. Reliance Petroleum gained over 6% to Rs 92. Reliance was the most active counter with a turnover of Rs 142 crore followed by Indiabulls Real Estate (Rs 136 crore), ICRA (Rs 133 crore), Reliance Petroleum (Rs 104 crore) and Page Industries (Rs 86 crore).
With excerpts from moneycontrol.com
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