It was a strong session for markets on the back of huge buying in capital goods, power, oil & gas, banking, metal, realty and technology stocks. Nifty clawed back above 4400 and Sensex above 14500 levels in today's trade. Markets opened weak in morning trade due to negative global cues and disappointing results from major telcom and realty players but strong buying in heavyweights shrugged off both those negative news in second half of session and both indices regained that entire loss.
The Sensex closed with a gain of 300.94 points or 2.10% at 14,656.69. It touched an intraday high of 14,682.33 and low of 14,032.87, swung more than 600 points in a day. Nifty closed at 4413.55, up 80.6 points or 1.86%, which hit a high/low of 4422.95 and 4235.70, respectively.
Amongst frontliners, Jaiprakash Associates rose 8.67%, PNB 7.07%, Suzlon Energy 7.04%, SBI 6.05%, HDFC 5.51%, Siemens 5.02%, Reliance Infra 4.71% and BHEL 4.61%. However, Reliance Comm lost 12.65%, Tata Power -3.76%, Maruti Suzuki -2.50%, Tata Motors -2.04%, HUL -1.90% and ACC -1.33%.
On the weekly basis, Sensex gained 2.8% and Nifty up 2.5%. BSE Metal Index shot up by 6.2% followed by Oil & Gas Index with 5.8% and IT up 5%. Amongst heavyweights, Suzlon rose 13%, Tata Power 10%, HDFC 8.5% while Reliance Communication lost 13%.
Reliance Communication fell over 13% on the back of disappointing quarterly results. Macquarie in their report says among the worst quarterly results have seen in the Indian telecom sector. They downgraded Reliance Comm to neutral with target price of Rs 475, reports CNBC-TV18.
Capital Goods Index outperformed other indices, jumped by 3.84% or 448.20 points at 12,132. Kalpataru Power, Crompton Greaves, Siemens, Punj Lloyd, BHEL and ABB have gained 4-6.4%.
Power stocks charged up fully. Suzlon Energy, GMR Infra, Reliance Infra, NTPC, Power Grid Corp and Reliance Power shot up 2.75%-7%. Power Index rose 87.48 points or 3.4% at 2,661.75.
Oil & Gas Inded ended with a gain of 317.39 points or 3.26% at 10,046.87. Oil stocks like Essar Oil, Reliance Ind, RNRL, IOC, GAIL, Reliance Petro, BPCL and HPCL surged 2-6%.
Bankex jumped up by due to buying in Bank of Baroda, PNB, Canara Bank, Federal Bank, Bank of India, SBI and Kotak Mahindra, which rose 6-8%. Bankex shot up by 212.24 points or 3.26% at 6,728.65.
IT Index moved up 110.49 points or 2.99% at 3,800.06. Technology stocks like Rolta, Wipro, Mphasis, I-Flex Solution, Infosys, HCL Tech and Satyam shot up 2.85-4%.
Metal stocks also ended in green, which includes JSW Steel, Jindal Saw, Ispat Industries, Tata Steel, Sesa Goa, Welspun Guj, SAIL and Jindal Steel. Index gained 337.70 points or 2.62% at 13,250.31.
Realty Index was up 120.19 points or 2.37% at 5,199.20, as buying is seen in Omaxe, Parsvnath, Anant Raj Ind, Peninsula Land, Unitech and DLF, which gained 2-5%.
Pharma stocks like Opto Circuits, Pfizer, Dr Reddys Labs, Sun Pharma, Aurobindo Pharma and Ranbaxy Labs were up. Healthcare Index rose 0.69% at 4,190.84.
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