New Delhi: It was yet another strong session for the markets riding on the back of some good global cues. The markets did better than most of its Asian peers and even Europe was quite ranged. The leg up came from the US markets later picked up by some of the Asian markets.
Nifty was hovering around 4020 levels and ended the day above 4,200 levels. The broader markets underperformed the frontliner indices. Midcaps like Deccan Aviation, WWIL surged higher. Except for BSE auto index, all the BSE sector indices closed in green. The turnover was quiet brisk and the markets breadth was in favour of the advances. Technology stocks bounced back which was quiet encouraging.
Tata Steel came out with inline set of numbers. Among the major news of the day was the Bajaj Auto demerger into three companies and on account of which the stock ended down over 6.5%.
Sensex closed up 172.40 points or 1.22% at 14299.71, and the Nifty up 48.60 points or 1.17% at 4219.55.
The strength in domestic stock markets was back supported by firmness across the global markets. The BSE-30 share index Sensex, gained nearly 198 points in the previous sessions and climbed further 203.65 points to 14,330.96 in the first five minutes of trading.
Stockbrokers said firming trends at global markets have triggered the buying interest on the domestic bourses. At US markets most Indian companies ADRs ended in the green with notable gains. Major contributers to the rise in the Sensex were Reliance Industries, State Bank of India, HDFC Bank, Larsen and Toubro, Maruti Udyog, Reliance Capital and ONGC.
Sustained buying was seen in banking, oil, FMCG, IT and metal stocks. Market breadth is extremely positive. Top gainers on the Sensex were again the banking stocks SBI up 2.77 per cent along with Tata Steel up 2.6 per cent, Dr Reddy's up 2.2 per cent followed by BHEL and HDFC.
Most active shares on indices were Unitech, Bhagwati Banque, Reliance, IFCI and ICRA. Index heavyweight Hindustan Lever was trading at Rs 198.15 up 0.43 per cent from its previous close of Rs 197.30.
Index heavyweight Reliance was trading at Rs 1,667.00 up 1.99% from its previous close of Rs 1,634.40. Tech major Infosys was trading at Rs 1,975.00 up 1.2% from its previous close of Rs 1,951.65. Cigarette major ITC was trading at Rs 165.95 up 1.75% from its previous close of Rs 163.10. Refinery major HPCL was trading at Rs 302.10 up 2.15% from its previous close of Rs 295.75.
With inputs from moneycontrol.com
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