How Market Fared

Bulls find their feet

The 13th December has turned out to be lucky for the bulls. After three days of heavy selling; the markets bounced back sharply today with vengeance putting up a strong fight. After witnessing volatility in the early trades, the key indices firmed up in the later half as Blue Chip like RIL, ACC, SBI, Satyam Computer and L&T rose on back of fresh buying. Banking, Pharma, Capital Good, Telecom and Sugar stocks were also in demand. Finally, the BSE benchmark Sensex added 186 points to close at 13181 and NSE Nifty gained 48 points to close at 3765.

Zee Telefilms put on a great show, the scrip was the top gainer among the 50-scrips of NSE Nifty adding over 6.4% to Rs335 after the Company declared Dec 18 as date for its split into 3 Companies. The scrip touched an intra-day high of Rs338 and a low of Rs310 and has recorded volumes of over 44,00,000 shares on NSE.

Satyam Computer gained 2.5% to Rs449 after the company signed MoU with Government of Egypt to set up development Center. The scrip touched an intra-day high of Rs454 and a low of Rs430 and recorded volumes of over 30,00,000 shares on NSE.

Glenmark spurred over 7.2% to Rs548 after the company announced that they would start Trials of Pain medicine in Europe. The scrip touched an intra-day high of Rs555 and a low of Rs491 and recorded volumes of over 5,00,000 shares on NSE.

After taking a plunge on back of CRR hike, the Bank index today bounced back as Federal Reserve left its benchmark rate unchanged, the index regained 2.97%. Index heavy weight SBI surged 3.7% to Rs1225, ICICI Bank advanced 3.4% to Rs830, HDFC Bank was up 1% to Rs1039. While, among the Mid-Cap stocks, Syndicate Bank, Union Bank and Bank of Baroda were among the major gainers.

Capital Good stocks ended with smart gains. Siemens surged over 6.2% to Rs1110, L&T advanced 1.9% to Rs1419, ABB surged 3% to Rs3577 and Punj Lloyd was up 2% to Rs933.

Auto stocks gained momentum towards the end. Tata motors rose 2.5% to Rs841, Bajaj Auto advanced 1% to Rs2554 and TVS motors surged over 4.6% to Rs85.

Pharma stocks witnessed fresh buying. Glaxo Pharma surged 2.9% to Rs1129, Ranbaxy gained 2.2% to Rs367, Lupin added 4.5% to Rs555 and Sun Pharma added 0.2% to Rs935.

Sugar stocks were in demand as according to reports the government may lift a ban on sugar exports. Bajaj Hindusthan jumped 5.3% to Rs228, Sakhti Sugar surged 2.7% to Rs103, Balrampur Chini advanced 2.4% to Rs81 and Rana Sugar added 1.3% to Rs23.