19K.....Cheers....Bulls charge back

19000 Marks

Index Last Price Change %Change
Nifty 5670.40 242.15 4.46
Sensex 19058.67 639.63 3.47

Levels reached by Sensex
September 19 16,000
September 26 17,000
October 09 18,000

October 15, 19000 pts

The bulls, after taking a fairly big breather on Friday last week, swung back into action in a telling fashion and the resultant surge in values of blue chip stocks lifted the Sensex past the 19,000 mark and to a new high of 19,095.75 in late afternoon trade today.

With frontline stocks recording impressive gains almost without a break, the Sensex recorded its fastest ever 1000 point surge by moving from 18,000 to 19,000 in barely four sessions. It had crossed the 18,000 mark on October 9, 2007.

The data on industrial production and inflation may have failed to arrest the slide on Friday, but the bulls, taking positive note of the data and the firm trend across the globe, got the market off to a buoyant start this morning and remained aggressive right through the session. Strong quarterly numbers from a few top notch companies and some stock specific stories also aided the sentiment.

While the Sensex ended with a whopping gain of 639.63 points or 3.47% at 19,058.67, the Nifty, which settled at 5670.40 a few points down from a new high of 5682.65 it hit in late afternoon today, gained 4.46% or 242.15 points.

Buying remained fairly widespread right through the session today. Though select FMCG, healthcare and information technology stocks turned subdued amid cautious trade, stocks from rest of the sectors had a smart outing. Metal stocks were among the most impressive gainers. Mirroring the sharp gains posted by key stocks in that space, the BSE Metal index rose by as much as 9.16% today.

Bank, PSU, Oil and capital goods stocks moved up sharply. Reflecting the buoyancy in these sectors, the indices tracking the movements of these stocks, advanced by 3% - 6%. The Auto, Realty, Teck and Consumer Durables indices also ended sharply higher.

Reliance Energy, one of the biggest gainers in the past couple of weeks, turned in a sparkling display once again. The stock moved up by as much as 12.9% in today's trade. PSU oil & gas exploration major ONGC posted a hefty gain of 9.15%.

Tata Steel recorded a big gain of 7.5%. Hindalco notched up 5.6%. Maruti Udyog (5.8%), Bharti Airtel (5.4%), State Bank of India (5.1%), HDFC Bank (4.2%), ICICI Bank (4.15%), NTPC (4.3%), Reliance Communications (4.9%) and index heavyweight Reliance Industries (3.8%) were in strong demand.

HDFC, which opened on a subdued note, bounced back smartly and posted a handsome gain of 3.4%. BHEL gained a little over 3%. ACC, Ambuja Cements, Bajaj Auto, Cipla, Grasim Industries, Larsen & Toubro, Tata Motors and Wipro gained 1% - 3%. Tata Consultancy Services and Satyam Computer Services moved up by nearly a per cent.

Dr. Reddy's Laboratories, ITC and Mahindra & Mahindra posted modest gains. Ranbaxy Laboratories and Infosys Technologies ended almost unchanged from their previous closing levels. Hindustan Unilever lost nearly a per cent.

SAIL moved up by 15.8% to Rs 259.05 and emerged the biggest gainer among Nifty stocks. Sterlite Industries, which held the top spot for the long time today, ended with a big gain of 14.35% at Rs 931.20. GAIL India (8.4%), Siemens (7.8%), Tata Power (5.6%), Nalco (5.15%), ABB (4.5%), Reliance Petroleum (4.5%), MTNL (4.25%), Suzlon Energy (3.5%), Punjab National Bank (2.85%), Unitech (2.5%) and Sun Pharmaceuticals (2.25%) also ended on a bright note.

VSNL, Hero Honda and Zee Entertainment ended with sharp gains. HCL Technologies closed flat while Hindustan Petroleum Corporation and BPCL eased by 3.25% and 4.4% on selling pressure.

Shipping Corporation of India, JSW Steel, Sterlite Optical Technologies, Punjab Lloyd, Gujarat Minerals, Axis Bank, Thermax, Jindal Stainless, D-Link India, CMC, HTMT Global, Mastek and GE Shipping were some of the big gainers from BSE 'A' Group.

Midcap metal stock Madras Aluminium hit the 20% upper circuit today. Binani Cement also remained firmly locked at hit upper limit. Ruchi Soya, Tele Data, KS Oils, Advanta, Gujarat NRE Coke, 3M India, Havells India, Bhushan Steel, Allcargo Global, Jyoti Structures, GVK Power, Bayer Crop and Info Edge were among the other top gainers from midcap space.

Consolidated Construction Consortium (CCCL) made an impressive debut today. On the National Stock Exchange, where it opened at Rs 889.90, the stock settled at Rs 801, a hefty premium of around 57% to its issue price of Rs 510. Around 7.05 million shares were transacted at the CCCL counter today.

The market breadth remained highly positive. Out of 2838 stocks traded on BSE today, 1899 stocks finished with gains. 875 stocks closed in the negative territory and 64 stocks ended at their previous closing levels.



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