Global cues were not that prominent and there were no great triggers on the domestic front as well. But then, some stock specific stories proved strong enough motivation for the bulls to stay glued to the ring today. A sharp decline in crude oil prices did aid the sentiment to an extent.
So stubborn were the bulls that the market, which opened with a big positive gap, had an uninterrupted stay in the positive territory and had no difficulty in signing off on a high note today. While the Sensex ended the day with a gain of 1.24% or 240.22 points at 19,603.41, the Nifty posted a gain of 1.77% or 102.25 points at 5865.
Power, oil, metal, capital goods, information technology and auto stocks surged higher. Consumer durables sector saw some spirited buying. Select pharma and FMCG stocks had a good outing as well. Bank stocks turned in a lacklustre performance. Reliance Energy powered its way ahead thanks to the company's plans to infuse Rs 8,000 crore over the next couple of years to increase capacity. The stock, among the most actively traded scrips today, ended the session with a hefty gain of 9.35% at Rs 1900.15. IT major Wipro rallied 7.2% to Rs 493.40 on strong buying support. Reliance Communications jumped 5.5% to Rs 711.80.
Tata Consultancy Services (3.85%), Hindalco (3.4%), BHEL (3.05%), Reliance Industries (2.9%), Mahindra & Mahindra (2.65%), Bajaj Auto (2.5%), Maruti Suzuki (2%), Satyam Computer Services (1.85%), Tata Steel (1.6%) and ITC (1.45%) also contributed significantly to the market's buoyant close today.
Ambuja Cements, NTPC, Ranbaxy Laboratories, Grasim Industries, Larsen & Toubro and State Bank of India moved up by 1% - 1.5%. Cipla and Tata Motors closed with modest gains. DLF ended 0.3% up while ACC and ONGC settled with small gains.
IT bellwether Infosys Technologies, which moved in a very tight band today, closed with a marginal loss at Rs 1600.70. Hindustan Unilever lost 0.45%. HDFC Bank (down 1%), HDFC (down 1.35%), Bharti Airtel (down 1.6%) and ICICI Bank (down 1.6%) were seen struggling almost right through the session today.
Tata Power closed with a big gain of 8%. Zee Entertainment spurted 5.55%. Sterlite Industries gained 4.6%. BPCL, VSNL, Punjab National Bank, Unitech and ABB went up by 3% - 4.5% today. Hindustan Petroleum Corporation (2.5%), Reliance Petroleum (2.5%), MTNL (2.05%), SAIL (1.6%), GlaxoSmithKline Pharma (1.55%) and Siemens (1.4%) also garnered attention.
More @ Sensex ends 240 pts up
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