The Indian market bounced back sharply after mid session on news that banks were going to cut lending rates after their meeting with Finance Minister P. Chidambaram. Sentiments boosted further on the news that PSU banks have agreed to cut their prime lending rates by 75 basis points, which could be between 25-50%. Further, credit guarantee on loans will be extended to Rs 1 lakh crore and deposit rates will be cut by 50 basis points. Banking shares led the rally on hopes that interest rate cut will influence more credit flow. The NSE Nifty ended above 3,100 level and BSE Sensex above 10,600 mark.
Today market opened on weak note tracking mixed cues from the global markets. Further, stocks pared some of earlier loses and were trading with bit of volatily with negative bias on concern of US Presidential election. After mid session, market made a sharp rebound from the initial fall on sustained buying interest in key stocks. In the final hours of trade, markets gained further ground and closed the day higher. On the global front, the Asian indices closed mixed, while the European indices have opened positive. From the sectoral front, stocks from the Realty, Banking, Power FMCG, Capital Goods and OIL & Gas sectors garnered investors'' interest, while selective selling pressure was seen in stocks from the IT and Teck sectors.
Among the Sensex pack 24 stocks ended in green terrain and 6 in red. The market breadth was in favour of advances as 1809 stocks closed in green while 777 stocks closed in red and 69 stocks remained unchanged.
The BSE Sensex closed higher by 293.44 points at 10,631.12 and NSE Nifty ended up by 98.25 points at 3,142.10. The BSE Mid Caps and Small Caps closed with gains of 90.68 points 3,446.22 and by 108.01 points at 4,035.11. The BSE Sensex touched intraday high of 10,668.48 and intraday low of 10,116.22.
Gainers from the BSE Sensex pack are DLF Ltd (14.66%), Ranbaxy Lab (9.88%), JP Associates (9.82%), Tata Power (8.32%), Reliance Communications Ltd (7.67%), ITC Ltd (7.63%), ONGC Ltd (7.12%), ICICI Bank Ltd (6.53%), SBI (6.50%), Tata Steel (6.48%) and BHEL (5.38%).
Losers from the BSE Sensex pack are Satyam Computer (7.41%), TCS Ltd (7.38%), Wipro Ltd (4.80%), Infosys Tech (3.2%), Sterlite Industries (2.00%) and ACC Ltd (1.04%).
The BSE Reality index ended up by (12.14%) or 260.16 points at 2,402.4. Gainers are DLF Ltd (14.66%), Unitech Ltd (14.49%), Ansal Infra (13.72%), Indiabull Real (12.48%), Omaxe Ltd (12.04%), Penland Ltd (11.70%) and Parsvnath (10.39%).
The Bank index ended higher by (6.56%) or 353.65 points to close at 5,741.04 as Bank of Baroda (15.49%), Kotak Bank (14.08%), Bank of India (11.61%), Union Bank (9.02%), Indian Overseas Bank (8.28%) and Yes Bank (8.11%) in positive territory.
The BSE Power index surged (5.66%) or 95.39 points at 1,781.38. Gainers are Lanco Infra (24.50%), GVK Power (24.19%), Suzlon Energy (20.57%), Reliance Power (12.79%), Siemens Ltd (11.80%) and GMR Infra (10.46%).
The BSE FMCG index ended higher by (4.77%) or 89.29 points at 1,961.19. Major gainers are ITC Ltd (7.63%), United Brew (7.61%), Dabur India (5.00%), HUL (3.60%), Godrej Cons (2.96%) and Marico Ltd (2.31%).
The BSE Capital Goods index gained (4.61%) or 350.35 points to close at 7,942.57 as Suzlon Energy (20.57%), Lakshmi Machines (18.73%), Praj Industries (13.99%), Siemens Ltd (11.80%), Elecon Eng C (10.00%) and Reliance Industrial Infra (8.39%) ended in positive territory.
The BSE IT index lost (4.33%) or 124.41 points to close at 2,749.95. Major losers are Mphasis Ltd (7.48%), Satyam Computer (7.41%), TCS Ltd (7.38%), Wipro Ltd (4.80%), Tech Mahindra (4.20%) and HCL Tech (4.18%).
Today market opened on weak note tracking mixed cues from the global markets. Further, stocks pared some of earlier loses and were trading with bit of volatily with negative bias on concern of US Presidential election. After mid session, market made a sharp rebound from the initial fall on sustained buying interest in key stocks. In the final hours of trade, markets gained further ground and closed the day higher. On the global front, the Asian indices closed mixed, while the European indices have opened positive. From the sectoral front, stocks from the Realty, Banking, Power FMCG, Capital Goods and OIL & Gas sectors garnered investors'' interest, while selective selling pressure was seen in stocks from the IT and Teck sectors.
Among the Sensex pack 24 stocks ended in green terrain and 6 in red. The market breadth was in favour of advances as 1809 stocks closed in green while 777 stocks closed in red and 69 stocks remained unchanged.
The BSE Sensex closed higher by 293.44 points at 10,631.12 and NSE Nifty ended up by 98.25 points at 3,142.10. The BSE Mid Caps and Small Caps closed with gains of 90.68 points 3,446.22 and by 108.01 points at 4,035.11. The BSE Sensex touched intraday high of 10,668.48 and intraday low of 10,116.22.
Gainers from the BSE Sensex pack are DLF Ltd (14.66%), Ranbaxy Lab (9.88%), JP Associates (9.82%), Tata Power (8.32%), Reliance Communications Ltd (7.67%), ITC Ltd (7.63%), ONGC Ltd (7.12%), ICICI Bank Ltd (6.53%), SBI (6.50%), Tata Steel (6.48%) and BHEL (5.38%).
Losers from the BSE Sensex pack are Satyam Computer (7.41%), TCS Ltd (7.38%), Wipro Ltd (4.80%), Infosys Tech (3.2%), Sterlite Industries (2.00%) and ACC Ltd (1.04%).
The BSE Reality index ended up by (12.14%) or 260.16 points at 2,402.4. Gainers are DLF Ltd (14.66%), Unitech Ltd (14.49%), Ansal Infra (13.72%), Indiabull Real (12.48%), Omaxe Ltd (12.04%), Penland Ltd (11.70%) and Parsvnath (10.39%).
The Bank index ended higher by (6.56%) or 353.65 points to close at 5,741.04 as Bank of Baroda (15.49%), Kotak Bank (14.08%), Bank of India (11.61%), Union Bank (9.02%), Indian Overseas Bank (8.28%) and Yes Bank (8.11%) in positive territory.
The BSE Power index surged (5.66%) or 95.39 points at 1,781.38. Gainers are Lanco Infra (24.50%), GVK Power (24.19%), Suzlon Energy (20.57%), Reliance Power (12.79%), Siemens Ltd (11.80%) and GMR Infra (10.46%).
The BSE FMCG index ended higher by (4.77%) or 89.29 points at 1,961.19. Major gainers are ITC Ltd (7.63%), United Brew (7.61%), Dabur India (5.00%), HUL (3.60%), Godrej Cons (2.96%) and Marico Ltd (2.31%).
The BSE Capital Goods index gained (4.61%) or 350.35 points to close at 7,942.57 as Suzlon Energy (20.57%), Lakshmi Machines (18.73%), Praj Industries (13.99%), Siemens Ltd (11.80%), Elecon Eng C (10.00%) and Reliance Industrial Infra (8.39%) ended in positive territory.
The BSE IT index lost (4.33%) or 124.41 points to close at 2,749.95. Major losers are Mphasis Ltd (7.48%), Satyam Computer (7.41%), TCS Ltd (7.38%), Wipro Ltd (4.80%), Tech Mahindra (4.20%) and HCL Tech (4.18%).
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