New Delhi: The markets have closed the session on a strong note as decline in Inflation numbers boosted the markets sentiments and giving the positive signals to the government measures to control inflation.
Positive global cues also fueled to the sentiments. Realty, technology, metal, banking and telecom stocks outperformed the markets. All BSE indices ended in green. Market breadth remained positive; nearly 4:1 on the NSE. On the global front, Asian markets closed strong.
The Sensex rose by 237.01 points or 1.46 per cent to settle at 16481.20, and the Nifty up 71.10 points or 1.45 per cent at 4958.40. Market breadth was positive; about 2068 shares have advanced, 764 shares declined, and 243 shares remained unchanged.
Inflation for the week ended April 5 declined to 7.14 per cent as against 7.41 per cent in the earlier week while the market estimated at 7.3 per cent.
This was the first weekly decline in Inflation after eight weeks of rise. Wholesale Price Index, WPI for metals rose by 0.9 per cent and all commodities up by 0.3 per cent.
Top gainers on the bourses were HDFC Bank, Hindalco, HDFC, DLF and SAIL while losers - HUL, ACC, L&T, Reliance Energy, GAIL and Zee Entertainment. Most active counters were Orchid Chemical, Infosys, Reliance Industries and NDTV.
Markets have rallied for fourth consecutive days. Sensex rose nearly 786 points in the last four sessions and 674 points in this week. Overall, it was a spectacular week for the markets. Week started with strong technology news as tech giant, Infosys Technologies reported good earnings, and shown that rupee appreciation and subprime crisis have not impacted its earnings heavily. It is an positive indication for other tech companies.
Other news from IT ministry that STPI concession may be extended for small & medium IT companies, also pushed midcap and small companies shares higher. BSE Midcap and Small cap Indices ended at 6836.39, up 2.05 per cent and 8,531.36, up 2.16 per cent, respectively.
Turnover for the day reported at Rs 64280.63 crore including Rs 15118.92 crore from NSE cash segment, Rs 6700.43 from BSE cash segment and the balance Rs 42461.28 from NSE F&O segment.
Realty Index outperformed all indices, up by 3.99 per cent or 292.77 points at 7,638.73 due to buying in HDIL, Indiabulls Real, Ansal Properties, DLF, Phoenix Mills and Parsvnath.
Metal stocks also contributed to today's rally. The BSE Metal Index gained 3.73% or 526.81 points at 14,661.13 as metal stocks like Ispat Industries, Hind Zinc, SAIL, Hindalco, Shree Precoated and JSW Steel ended in green.
Technology stocks have been buzzing since Monday, BSE IT Index rose nearly 491.52 points or 13.43 per cent in this week. Today it closed at 4,150.90, up 3.6 per cent. I-Flex Solution, Patni Computer, Infosys, Mphasis, HCL Tech and Satyam have supported the index.
Amongst banking stocks HDFC Bank, Oriental Bank, Bank of India, Centurion Bank, Allahabad Bank and Axis Bank have gained. The BSE Bankex was up 3.13 per cent or 252 points to close at 8,295.84.
Power stocks also fully charged today due to buying seen in CESC, Power Grid Corp, Suzlon Energy and Tata Power. The BSE Power Index rose 1.14% at 3,244.22.
Auto stocks like Escorts, TVS Motor, Mah and Mah, Punj Tractors, Tube Investment and Amtek Auto seen some buying interest. The BSE Auto Index surged 0.98 per cent to end at 4,509.81.
Pharma stocks ended with sweet gains. Opto Circuits, Sterling Bio, GSK Pharma, Lupin, Wyeth and Wockhardt have gained. The BSE Healthcare Index was up 0.52 per cent at 4,084.94.
Some capital goods stocks also under bull grip. The BSE Capital Goods Index rose 0.30 per cent to settle at 13,392.48 as buying seen in Kirloskar Bros, Carborundum, Reliance Infra, Lakshmi Machine, Triveni Engg and BEML.
However, FMCG stocks have witnessed some selling pressure in late trade. HUL, Colgate and Britannia have lost ground. The BSE FMCG Index fell 0.21 per cent at 2,367.66.
Oil stocks like GAIL, IOC, Essar Oil, Reliance, ONGC and BPCL have lost the shine. The BSE Oil & Gas Index was down 0.10 per cent at 11,411.03.
(With moneycontrol.com inputs)
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