Mkts: Sensex gains over 200 pts; RIL shines

Mkts: Sensex gains over 200 pts; RIL shines

Taking cues from firm global markets, equities opened on a rousing note on the major Indian bourses this morning. But a strong wave of selling that erupted in late morning trades, pushed the Sensex by over 200 points from an early high and down into the red around noon.

However, thanks to some frenzied buying - largely on short-covering due to expiry of June series derivatives contracts - in a few blue chip stocks, including heavyweight Reliance Industries, the barometer bounced back smartly and signed off on a positive note this afternoon. Besides a few oil majors, some key stocks from information technology, metal and auto sectors also ended on a high note today.

While the Sensex ended with a gain of 201.75 points or 1.42% at 14,421.82, around 28 points down from its intra-day high of 14,449.81, the Nifty settled at 4315.85 with a gain of 63.20 points or 1.49%. In intra-day trades today, the Nifty hit a high of 4324.75 and a low of 4230.
Reliance Industries ended the day with a handsome gain of 4.9% on strong volumes. Ambuja Cements, the top gainer among Sensex stocks, closed 6% up at Rs 87.50. Wipro moved up by 5.15%. Cipla ended stronger by 4.4%.

Satyam Computer Services, Tata Motors and HDFC gained 3% - 3.5%. ITC and Mahindra & Mahindra advanced by 2.7% and 2.35% respectively. Larsen & Toubro, Tata Steel, Infosys Technologies, Reliance Infrastructure and State Bank of India gained 1% - 2%. ACC and ONGC ended with modest gains while ICICI Bank and Tata Consultancy Services closed flat.

Reliance Communications, Maruti Suzuki, Hindalco, Ranbaxy Laboratories, DLF, Hindustan Unilever, Bharti Airtel, HDFC Bank and NTPC closed with sharp losses. Jaiprakash Associates, Grasim Industries and BHEL also finished on a weak note.

Tata Communications (up 9.3% to Rs 394.15) was the biggest gainer in the Nifty pack. Power Grid shot up by 5.7%. HCL Technologies notched up a handsome gain of 5.4%. GAIL India, Sun Pharmaceuticals, SAIL, Nalco, Reliance Petroleum, Hero Honda, ABB, Tata Power, Unitech, Sterlite Industries, Cairn India and Siemens also ended on a highly positive note today.

Following the Union Cabinet approving the new fertiliser policy, fertiliser stocks had a nice ride up the charts today. Chambal Fertilizers, Nagarjuna Fertilizers & Chemicals, Gujarat State Fertilizers, Rashtriya Chemicals & Fertilizers, National Fertilizers and Tata Chemicals, all had a good run in the positive zone today.

Despite enjoying a good spell in the positive territory, several midcap stocks ended the day on a weak note due to selling at higher levels. However, a number of smallcap stocks held on to their gains. The market breadth was positive. Out of 2698 stocks traded on BSE, 1483 stocks ended on a winning note. 1143 stocks closed with losses and 72 stocks ended at their previous closing levels.


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