The domestic market rebounded sharply from days low to close with decent gains on sustained buying during final trading hours. Earlier market was trading with volatility for throughout of trading session as investors were cautious ahead of Fed meeting. However, hopes of additional interest rate cuts by the central bank to support the domestic economy from the global economic recession boosted the sentiments of domestic investors. In addition to this, inflow of foreign funds also lifted the market sentiments.
The Indian market opened lower today and suddenly turned volatile on the back of negative cues from the global markets. The US stocks came into pressure on the back of the $50 billion fraud by the former chairman of the Nasdaq stock exchange and popular broker, Bernard Madoff. Asian stocks declined on fears of deepening global recession. Further stocks recuperated during mid session, but were not able to hold the same momentum and again turned lower. Finally, market surged higher in the late trades on sustained buying in scrips across the sectors.
Positive European markets also contributed to the recovery. BSE Sensex ended around 10,000 mark and NSE Nifty crossed 3,000 level. From the sectoral front, investors on-loaded position across the sectors and Consumer Durable stocks out performed the benchmark indices as ended with gain of more than 7%. Apart from that, most of the buying was seen in PSU, Oil & Gas, Pharma, IT, Reality, Bank and Power stocks. Midcap and Smallcap stocks also joined the northward journey.
Among the Sensex pack 20 stocks ended in green territory and 10 in red. The market breadth was positive as 1866 stocks closed in green while 648 stocks closed in red and 67 stocks remained unchanged.
The BSE Sensex closed higher by 144.59 points at 9,976.98 and NSE Nifty ended up by 60.55 points at 3,041.75. The BSE Mid Caps and Small Caps ended with good gains of 79.14 points and 117.56 points at 3,244.21 and 3,776.65 respectively. The BSE Sensex touched intraday high of 10,009.21 and intraday low of 9,790.31.
Gainers from the BSE Sensex pack are ONGC Ltd (6.07%), Grasim Industries (4.59%), ACC Ltd (4.34%), Tata Motors (4.33%), HDFC Bank Ltd (4.10%), Reliance (3.64%), NTPC Ltd (3.50%), SBI (2.80%), Ranbaxy Lab (2.50%), TCS Ltd (2.37%), Infosys Tech (1.98%) and Wipro Ltd (1.96%).
Losers from the BSE Sensex pack are Sterlite Industries (7.07%), HDFC (4.13%), Reliance Infra (2.53%), Reliance Communication Ltd (2.11%), DLF Ltd (1.32%), L&T Ltd (1.23%) and Tata Steel (1.03%).
The BSE Consumer Durables index advanced by (7.44%) or 135.97 points to close at 1,964.43. Main gainers are Videocon Ind (19.99%), Blue Star L (9.22%), Gitanjali GE (4.93%), Rajesh Export (4.00%) and Titan Ind (2.37%).
The BSE PSU index ended higher by (5.03%) or 245.56 points at 5,128.78 as MMTC Ltd (20.00%), NMDC Ltd (16.24%), Neyveli LIG (14.79%), Rashtriya Chemicals & Fertilizers (10.71%), Chennai Petro (7.42%) and State Dena Bank (7.25%) ended upbeat
The BSE Oil & Gas index surged (3.30%) or 209.25 points to close at 6,554.19 as ONGC Ltd (6.07%), Reliance (3.64%), Gail India (3.27%), Cairn Indi (3.25%), Essar Oil Ltd (2.09%) and Essar Oil Ltd (2.01%) ended in positive territory.
The BSE Pharma index ended higher by (2.48%) or 71.22 points at 2,939.45. Major gainers are Piramal Health (11.12%), Orchid Chem (9.61%), Glenmark Pharma (7.11%), Biocon Ltd (5.74%), Opto Circuit (5.71%) and Lupin Ltd (5.19%).
The BSE IT index gained (2.38%) or 54.38 points to close at 2,340.58 as HCL Tech (17.99%), Oracle fin (11.21%), Moser Bayer (10.92%), NIIT Ltd (8.40%), Tech Mahindra (4.98%) and Rolta India (4.04%) ended in green.
The BSE Reality index ended up by (2.34%) or 52.52 points at 2,298.39. Major gainers are Housing Dev (14.27%), Orbit Co (10.07%), Indiabull Real (8.16%), Ansal Infra (7.08%), Sobha Dev (4.47%) and Omaxe Ltd (3.38%).
The Indian market opened lower today and suddenly turned volatile on the back of negative cues from the global markets. The US stocks came into pressure on the back of the $50 billion fraud by the former chairman of the Nasdaq stock exchange and popular broker, Bernard Madoff. Asian stocks declined on fears of deepening global recession. Further stocks recuperated during mid session, but were not able to hold the same momentum and again turned lower. Finally, market surged higher in the late trades on sustained buying in scrips across the sectors.
Positive European markets also contributed to the recovery. BSE Sensex ended around 10,000 mark and NSE Nifty crossed 3,000 level. From the sectoral front, investors on-loaded position across the sectors and Consumer Durable stocks out performed the benchmark indices as ended with gain of more than 7%. Apart from that, most of the buying was seen in PSU, Oil & Gas, Pharma, IT, Reality, Bank and Power stocks. Midcap and Smallcap stocks also joined the northward journey.
Among the Sensex pack 20 stocks ended in green territory and 10 in red. The market breadth was positive as 1866 stocks closed in green while 648 stocks closed in red and 67 stocks remained unchanged.
The BSE Sensex closed higher by 144.59 points at 9,976.98 and NSE Nifty ended up by 60.55 points at 3,041.75. The BSE Mid Caps and Small Caps ended with good gains of 79.14 points and 117.56 points at 3,244.21 and 3,776.65 respectively. The BSE Sensex touched intraday high of 10,009.21 and intraday low of 9,790.31.
Gainers from the BSE Sensex pack are ONGC Ltd (6.07%), Grasim Industries (4.59%), ACC Ltd (4.34%), Tata Motors (4.33%), HDFC Bank Ltd (4.10%), Reliance (3.64%), NTPC Ltd (3.50%), SBI (2.80%), Ranbaxy Lab (2.50%), TCS Ltd (2.37%), Infosys Tech (1.98%) and Wipro Ltd (1.96%).
Losers from the BSE Sensex pack are Sterlite Industries (7.07%), HDFC (4.13%), Reliance Infra (2.53%), Reliance Communication Ltd (2.11%), DLF Ltd (1.32%), L&T Ltd (1.23%) and Tata Steel (1.03%).
The BSE Consumer Durables index advanced by (7.44%) or 135.97 points to close at 1,964.43. Main gainers are Videocon Ind (19.99%), Blue Star L (9.22%), Gitanjali GE (4.93%), Rajesh Export (4.00%) and Titan Ind (2.37%).
The BSE PSU index ended higher by (5.03%) or 245.56 points at 5,128.78 as MMTC Ltd (20.00%), NMDC Ltd (16.24%), Neyveli LIG (14.79%), Rashtriya Chemicals & Fertilizers (10.71%), Chennai Petro (7.42%) and State Dena Bank (7.25%) ended upbeat
The BSE Oil & Gas index surged (3.30%) or 209.25 points to close at 6,554.19 as ONGC Ltd (6.07%), Reliance (3.64%), Gail India (3.27%), Cairn Indi (3.25%), Essar Oil Ltd (2.09%) and Essar Oil Ltd (2.01%) ended in positive territory.
The BSE Pharma index ended higher by (2.48%) or 71.22 points at 2,939.45. Major gainers are Piramal Health (11.12%), Orchid Chem (9.61%), Glenmark Pharma (7.11%), Biocon Ltd (5.74%), Opto Circuit (5.71%) and Lupin Ltd (5.19%).
The BSE IT index gained (2.38%) or 54.38 points to close at 2,340.58 as HCL Tech (17.99%), Oracle fin (11.21%), Moser Bayer (10.92%), NIIT Ltd (8.40%), Tech Mahindra (4.98%) and Rolta India (4.04%) ended in green.
The BSE Reality index ended up by (2.34%) or 52.52 points at 2,298.39. Major gainers are Housing Dev (14.27%), Orbit Co (10.07%), Indiabull Real (8.16%), Ansal Infra (7.08%), Sobha Dev (4.47%) and Omaxe Ltd (3.38%).
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