Domestic markets rallied sharply on the back of strong supportive cues from the global markets as the US treasury has come out with a plan to create a Resolution Trust-like operation to calm the economic turmoil and the financial crisis. This led to sustained buying across the board. The major Asian markets out performed during the trade and the strong European markets also added to the positive sentiments. BSE Sensex returned back to the 14,000 level and NSE Nifty crossed 4,200 mark. Indian markets today opened on optimistic note tracking strong global cues and kept on marching forward till the closing bell. Further, markets extended their gains and continued to trade sharply higher on strong buying over the counters. Finally, bulls become more powerful during final hours of trading as markets closed with gains of more than 5%. From the sectoral front, all indices ended with gains and among those reality stocks outperformed the benchmark index as closed with gain of more than 7%. Along with that, Oil & Gas, Capital Goods, Bank, Metal and IT stocks witnessed healthy buying from these baskets. The market breadth was positive as 1888 stocks closed in green while 740 stocks closed in red and 72 stocks remained unchanged.
Inflation rose marginally to 12.14% for the week ended 6th September 2008, as against 12.1% recorded a week earlier on account of the rise in primary and food articles. Primary articles were up by 1%, food articles rose 1.4% and non-food articles 0.2 %. The annual inflation rate was 3.46% during the corresponding week of the previous year.
The BSE Sensex closed higher by 726.72 points at 14,042.32 and NSE Nifty ended up by 207.10 points at 4,245.25. The BSE Mid Caps and Small Caps closed with gains of 149.65 points at 5,228.78 and by 140.56 points at 6,215.99. The BSE Sensex touched intraday high of 14,097.44 and intraday low of 13,674.96.
Gainers from the BSE are Satyam Comp (10.48%), Ranbaxy Lab (6.60%), ICICI Bank Ltd (9.07%), HDFC (8.32%), Tata Power (8.30%), DLF Ltd (7.78%), ONGC Ltd (7.30%), Infosys Tech (6.59%), TCS Ltd (6.37%), HDFC Bank Ltd (6.32%) and BHEL (6.31%).
The BSE Oil & Gas index ended higher by 495.53 points at 9,468.42 as ONGC Ltd (7.30%), Cairn India (6.86%), Reliance (6.16%), Essar Oil Ltd (4.55%), Gail India (4.44%) and Reliance Natural Resources (3.50%) ended in positive territory.
The BSE Capital Goods index closed up by 491.57 points at 11,740.07 Gainers are Usha Martin (7.88%), Punj Lloyd (6.92%), Walchand In (6.92%), BHEL (6.32%), Crompton Greaves (5.93%) and Thermax Ltd (5.55%).
The BSE Metal index surged 343.54 points to close at 10,033.59. Major gainers are %), Gujarat NRE C (7.70%), Steel Authority (7.05%), Jindal Steel (6.89%), Sesa Goa Ltd (5.26%), NMDC Ltd (4.98%) and Nalco (4.67%).
The BSE Bank index closed higher by 340.25 points at 7,109.08. Gainers are ICICI Bank Ltd (9.07%), Kotak Bank (8.48%), Canara Bank (6.55%), HDFC Bank Ltd (6.32%), Federal Bank (5.55%) and Indus Ind Bank (5.43%).
The BSE Reality index advanced by 289.53 points to close at 4,102.64. As Ansal Infra (18.36%), Indiabull Real (17.00%), Akruti City (11.52%), Housing Dev (8.13%), Penland Ltd (5.65%) and Mahindra Life (5.60%) closed in positive territory.
The BSE IT index gained 229.35 points to close at 3,666.75. As Satyam Comp (10.48%), HCL Tech (8.15%), Infosys Tech (6.59%), TCS Ltd (6.37%), Oracle Fin (6.36%) and Tech Mahindra (5.74%) closed in positive territory
Inflation rose marginally to 12.14% for the week ended 6th September 2008, as against 12.1% recorded a week earlier on account of the rise in primary and food articles. Primary articles were up by 1%, food articles rose 1.4% and non-food articles 0.2 %. The annual inflation rate was 3.46% during the corresponding week of the previous year.
The BSE Sensex closed higher by 726.72 points at 14,042.32 and NSE Nifty ended up by 207.10 points at 4,245.25. The BSE Mid Caps and Small Caps closed with gains of 149.65 points at 5,228.78 and by 140.56 points at 6,215.99. The BSE Sensex touched intraday high of 14,097.44 and intraday low of 13,674.96.
Gainers from the BSE are Satyam Comp (10.48%), Ranbaxy Lab (6.60%), ICICI Bank Ltd (9.07%), HDFC (8.32%), Tata Power (8.30%), DLF Ltd (7.78%), ONGC Ltd (7.30%), Infosys Tech (6.59%), TCS Ltd (6.37%), HDFC Bank Ltd (6.32%) and BHEL (6.31%).
The BSE Oil & Gas index ended higher by 495.53 points at 9,468.42 as ONGC Ltd (7.30%), Cairn India (6.86%), Reliance (6.16%), Essar Oil Ltd (4.55%), Gail India (4.44%) and Reliance Natural Resources (3.50%) ended in positive territory.
The BSE Capital Goods index closed up by 491.57 points at 11,740.07 Gainers are Usha Martin (7.88%), Punj Lloyd (6.92%), Walchand In (6.92%), BHEL (6.32%), Crompton Greaves (5.93%) and Thermax Ltd (5.55%).
The BSE Metal index surged 343.54 points to close at 10,033.59. Major gainers are %), Gujarat NRE C (7.70%), Steel Authority (7.05%), Jindal Steel (6.89%), Sesa Goa Ltd (5.26%), NMDC Ltd (4.98%) and Nalco (4.67%).
The BSE Bank index closed higher by 340.25 points at 7,109.08. Gainers are ICICI Bank Ltd (9.07%), Kotak Bank (8.48%), Canara Bank (6.55%), HDFC Bank Ltd (6.32%), Federal Bank (5.55%) and Indus Ind Bank (5.43%).
The BSE Reality index advanced by 289.53 points to close at 4,102.64. As Ansal Infra (18.36%), Indiabull Real (17.00%), Akruti City (11.52%), Housing Dev (8.13%), Penland Ltd (5.65%) and Mahindra Life (5.60%) closed in positive territory.
The BSE IT index gained 229.35 points to close at 3,666.75. As Satyam Comp (10.48%), HCL Tech (8.15%), Infosys Tech (6.59%), TCS Ltd (6.37%), Oracle Fin (6.36%) and Tech Mahindra (5.74%) closed in positive territory
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