Sensex vaults 327 pts at close
There were no great global triggers this morning for traders on the major Indian bourses with US markets having a holiday yesterday and Asian stocks displaying a mixed trend. But the fact that there were no negative points proved a good enough platform for the bulls to go on a rampage in early trade. As the session progressed, some positive news like a drop in inflation, recovery in Asian markets and a positive start on the European bourses aided the sentiment. The upbeat mood notwithstanding, the market witnessed some highly volatile spells today.
The market, which opened with big positive gap and moved further up north this morning, very nearly slipped into the red sometime past mid afternoon following reports of some explosions outside the city civil court in Lucknow. Though bank, healthcare and FMCG stocks remained subdued till the end, thanks to a splendid rally in capital goods, power, realty, metal, oil and information technology stocks, the market ended on a buoyant note today.
The Sensex, which hit a high of 18,910.46 today, snapped a six session losing streak as it ended with a huge gain of 326.55 points or 1.76% at 18,852.87. The Nifty, which vaulted to a high of 5638.60 in intra-day trades today, closed 1.62% or 89.45 points up at 5608.60.
The mood was so positive as the session drew to a close that only a few stocks, Maruti Suzuki (down 2.05%), HDFC Bank (down 1.95%), Cipla (down 0.9%), ITC (down 0.55%), ONGC (down 0.3%), Grasim Industries (down 0.25%), Ranbaxy Laboratories (down marginally) and Mahindra & Mahindra (down marginally), among the Sensex components ended in the negative territory today.
Reliance Energy shot up by 7.5%. DLF recorded a strong gain of 5.6%. HDFC moved up by 4.15%. Larsen & Toubro and BHEL, the capital goods heavyweights, ended higher by 4.05% and 2.35% respectively. NTPC gained nearly 4%. Reliance Industries moved up by a little over 3%. Hindustan Unilever gained 1.85%. Automobile stocks Tata Motors and Bajaj Auto rallied by 3.3% and 2.5% respectively. Reliance Communications (1.25%), ICICI Bank (1.2%), ACC (0.9%), Hindalco (0.9%), Bharti Airtel (0.75%) and State Bank of India (0.45%) also chipped in with smart gains. Tata Steel and Ambuja Cements closed marginally higher than their previous closing levels.
For more details: Sensex vaults 327 pts at close
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