The markets almost recovered yesterday's loss and closed higher, which was in line with global cues. Banking and technology stocks led the rally ahead of the second quarter earnings expectations.
The Sensex finished at 12,389.41, up 185.40 points or 1.52%. It touched an intraday high of 12,415.97 and an intraday low of 12,299.21.
The Nifty rose 1.41% or 49.55 points to close at 3564.90. It touched an intraday high of 3574.95 and an intraday low of 3515.60.
The BSE Small Cap and Midcap indices also gained 1.74% at 6,261.89 and 1.98% at 5,229.05, respectively.
The market breadth was positive, about 1808 shares have advanced, 650 shares declined, and 80 shares are unchanged.
The total turnover was Rs 32637.84 crore (Rs 326.37 billion). The NSE and BSE cash segment recorded turnover of Rs 7354.74 crore (Rs 73.54 billion) and Rs 3666.23 crore (Rs 36.66 billion), respecively. The NSE F&O registered turnover of Rs 21616.87 crore (Rs 216.16 billion).
Top gainers on the bourses were HDFC Bank (3.98%), Infosys (3.47%), Gujarat Ambuja Cements (3.21%), Tata Steel (2.68%), SAIL (5.94%) and Oriental Bank (3.78%).
However, Bharti Airtel (-0.48%), Reliance Energy (-0.33%), Dr Reddy's Labs (-0.11%), Suzlon Energy (-0.76%), Tata Power (-0.31%) and ABB (-0.18%) were losers.
The BSE IT Index outperformed other indices as huge buying was seen in Moser Baer, Infosys, Wipro, Satyam, Patni Computer, MphasiS BFL and TCS. The Index was up 2.43% or 104.69 points at 4,404.08.
Analyst from UBS said that a mild slowdown in US growth rates is unlikely to impact Indian IT companies.
Banking stocks like Bank of India, Karnataka Bank, Allahabad Bank, HDFC Bank, Federal Bank, Oriental Bank, PNB and Union Bank also led the rally. The BSE Bankex closed at 6,096.42, up 2.34% or 139.60 points.
Metal stocks including SAIL, Tata Steel, Mah Seamless, Jindal Saw and JindalStainless ended in the green. The BSE Metal Index surged 147.87 points or 1.75% at 8,589.18.
Gammon India, KEC Infrastructures, Alstom Projects, Dredging Corporation, BEML, Lakshmi Machine and Larsen spurted up. The BSE Capital Goods Index surged 129.71 points or 1.61% at 8,162.32.
The BSE Auto Index rose 1.5% to end at 5,460. Auto stocks like Tube Investment, Apollo Tyres, Asahi India, MRF, Cummins and Amtek Auto firmed up.
FMCG stocks including Britannia, Colgate, P&G, Dabur India, ITC and HLL gained. The BSE FMCG Index soared 1.26% at 2,051.72.
The BSE Oil & Gas Index was up 0.95% at 5,763.29 as Petronet LNG, Reliance Natural, HPCL, Chennai Petro, BPCL and ONGC surged.
Consumer durables stocks like Whirlpool, Blue Star, Su-Raj Diamonds, Samtel Color and BPL moved up. The BSE Consumer Durables Index increased by 0.96% to close at 3,107.20.
Wyeth, Cipla, Lupin, Ipca Labs, Sterling Bio and Nicholas Piramal were gainers in pharma index. The BSE Healthcare Index also a part of the rally, closed at 3,638.63, up 0.66%.
Markets today
- Markets bounce back on broad-based buying after recent fall
- Technology, bank, metal stocks among major gainers
- Sensex up 1.5% at 12,389; Nifty up 1.4% at 3565 points
- BSE IT Sector index up 2.4%; Infosys up 3.6%, Wipro up 2.8%
- BSE Bank index up 2.3%; HDFC Bank up 4.6%, OBC up 3.8%
- BSE Metals index up 1.7%; SAIL up 6%, Tata Steel up 2.6%
- FMCG majors lend support; ITC, HLL up over 1% each
- Second rung stocks outperform broader market
- NSE CNX Midcap index up almost 2%; BSE Small Cap index up 1.7%
- Petronet LNG surges 20% on news to offer stake to Qatar co
- Market breadth positive; NSE Advance: Decline ratio over 4:1
- Total market turnover Rs 32,637.84 crore versus Rs 38,423.59 crore
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