Sensex 18493 (879)
Nifty 5474 (290)
Strong global markets, fairly buoyant results from India Inc and the market regulator SEBI's proposal to undertake a full review of regulations relating to the foreign portfolio investors at its board meeting later this week were among the prominent triggers that sent the bulls on a rampage today. So sustained and stubborn were the bulls that it was a long trip up north for several blue chip stocks and the benchmark indices Sensex and the Nifty today.
The Sensex, which opened with a positive gap of nearly 300 points at 17,910.30 and hit a high of 18,542.41 in intra-day trades, settled at 18,492.84 with a thumping gain of 878.85 points, its biggest ever single day surge in absolute term. The previous best was the 778.85 points gain it had recorded on October 9, 2007. The Nifty, which hit a high of 5488.50 in late afternoon trade, ended with a gain of 5.59% or 289.70 points at 5473.70.
A fair share of the rise in values of frontline stocks could also be attributed to short-covering ahead of October series derivatives contracts. The mood was so buoyant that only a few stocks, Tata Consultancy Services (down 0.95%), Ambuja Cements (down 0.55%), Wipro (down 0.45%), HDFC (down 0.25%) and Infosys Technologies (down 0.15%), among the Sensex components failed to close on the positive side. All these stocks, however, had enjoyed a spell in the positive territory at some stage of the session today.
Index heavyweight Reliance Industries closed stronger by as much as 7.85% at Rs 2601.55. Capital goods heavyweights BHEL and Larsen & Toubro moved up by 11.55% and 7.55% respectively. Power stocks Reliance Energy (11.2%) and NTPC (8.85%) and telecom major Bharti Airtel (8.4%) also closed with hefty gains. Reliance Communications surged 4.9% to Rs 755.45.
Bank stocks, led by sector heavyweights HDFC Bank (7.45%), State Bank of India (5.85%) and ICICI Bank (3.65%) posted strong gains. Metal stocks had a fine run in the positive territory today. Tata Steel notched up a smart gain of 6.95%. Hindalco gained 3.85%.
Cipla (7.25%), Grasim Industries (5.4%), Maruti Udyog (4.6%), ACC (4.65%), ITC (4.35%), ONGC (4.25%), Hindustan Unilever (4.25%), Tata Motors (3.05%), Satyam Computer Services (3%), Dr. Reddy's Laboratories (2.95%), Mahindra & Mahindra (2.65%), Ranbaxy Laboratories (2.45%) and Bajaj Auto (2.15%) also ended on a high note.
SAIL posted an impressive gain of 10.75%. Unitech surged 10.2%. Suzlon Energy, backed up strong results and fat order book, recorded a smart gain of 9.15%. Punjab National Bank, Zee Entertainment, ABB, Reliance Petroleum, GAIL India, Tata Power and Siemens firmed up by 5% - 8%.
Sterlite Industries climbed up 4.65%. BPCL (2.95%), VSNL (2.95%), Hindustan Petroleum Corporation (2.85%), Nalco (2.75%), MTNL (2.5%) and Sun Pharmaceuticals (1.75%) also ended on a high note.
Punjab Lloyd, Crompton Greaves, AIA Engineering, Bharat Earth Movers, Alstom Projects, Areva, Thermax, Praj Industries, Kirloskar Oil Engines, Bharat Electronics, SKF India, Kalpataru Power, Havell’s India and Lakshmi Machine Works were among the top gainers in the capital goods index.
Bank of India zoomed 22.3% to Rs 314.80. Kotak Bank and Canara Bank moved up by 13.25% and 11.35% respectively. Yes Bank spurted 10%. Union Bank of India, Bank of Baroda, Oriental Bank of Commerce, Centurion Bank of Punjab, Axis Bank, Karnataka Bank, Indian Overseas Bank, IndusInd Bank, Federal Bank, Allahabad Bank, Andhra Bank, Indian Bank, IDBI, Dena Bank, Vijaya Bank and Syndicate Bank recorded impressive gains today.
Meal stocks Jindal Steel, Sesa Goa, Welspun Gujarat, Bhushan Steel, Maharashtra Seamless, JSW Steel and Jindal Stainless, auto and auto components stocks MRF, Escorts, Hindustan Motors, Exide Industries, Cummins India, TVS Motor, Amtek Auto, Apollo Tyres, Bharat Forge and Punjab Tractors ended with strong gains.
Divi's Laboratories, Aurobindo Pharma, Lupin, Opto Circuits, Apollo Hospitals, Cadila Healthcare, Nicholas Piramal, Sterling Biotech, Matrix Laboratories, Fortis Healthcare, Biocon, Novartis and Wockhardt were among the major gainers from the healthcare sector.
Midcap stock LIC Housing Finance vaulted 19.15%. Micro Inks, IVRCL Infrastructure, Educomp Solutions, United Breweries, Emami, EID Parry, Ballarpur Industries, Penland, KS Oils, Take Solutions, Bharat Bijli and Ispat Industries also finished with sparkling gains.
Thanks to widespread buying, the market breadth remained very strong today. Out of 2798 stocks traded on BSE, as many as 2089 stocks ended on a positive note. 658 stocks closed in the negative zone while 51 stocks ended at their previous closing levels.
Biggest Gain: Sensex ends up 879pts
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