Market ends buoyant

Today the market rallied sharply by over 200 points during intra-day trades on a broad-based buying support. The Sensex made a sound start by adding 29 points over its last close of 13472 and remained firm throughout the session. By mid-morning trades, the Sensex edged past the 13650 mark and continued with its upward march as market sentiment was extremely buoyant. Buying intensified towards the closing hours and the Sensex breached the 13700 mark to touch an intra-day high of 13727, up 255 points from the previous close. Finally, the market wrapped up the session with a steep upsurge of 1.76% at 13708 while the Nifty flared up 1.85 to close at 3943.

The breadth of the market was positive, of the 2,671 stocks that traded on the BSE, 1,646 stocks advanced, 958 stocks declined and 67 stocks ended unchanged.

All the sectoral indices reported gains. The BSE IT Index vaulted 2.81% at 5197 while the BSE Tech Index gained 2.26% at 3602. The BSE Auto Index, the BSE CD Index, the BSE CG Index, the BSE Bankex, the BSE FMCG Index, the BSE HC Index, the BSE Oil & Gas Index, the BSE PSU Index and the BSE Metal Index rose by above 1% each.

IT stocks were in the limelight, with I-Flex appreciating by 7.83% at Rs1,944. The other major gainers Wipro, Patni Computers, TCS, Satyam Computers and Infosys advanced by 3-4% each. However, only Mphasis BFL ended in the negative territory.

Other than the Sensex, the gainers that helped the market to gain are Moser Baer, which zoomed by 6.96% at Rs312; Century Textiles that soared 6.78% at Rs702; Mirc Electronics that spurted 5.99% at Rs20; Zee Telefilms that scaled up 5.13% at Rs291; Jaiprakash Associates that moved up 4.93% at Rs704; and Sun TV that appreciated by 4.51% at Rs1410. The other gainers like SAIL, Sterlite Industries, Birla Corporation, CMC, Ashok Leyland, Infra Development, Tata Elexsi, Jindal Saw, Bombay Dyeing and Sun Pharmaceuticals notched up 3-4% gains. However, a few stocks also ended lower with Great Eastern declining by nearly 2.46% at Rs204 and Indian Oil dropping by 2.19% at Rs435.

Jain Irrigation System at Rs397.95, M&M at Rs893, NCL Industries at Rs63.85, Modern India at Rs156.80, Simplex Trading at Rs92.15, IST at Rs377.25 and Mefcom Agriculture at Rs133.40 touched their new all-time highs.

Ansal Infrastructure at Rs913.60, BPL at Rs97.70, Ester Industries at Rs6.11, Flex Industries at Rs126.40, Parekh Plantation at Rs4.91 and Wartsila India at Rs362.70 hit the upper circuit. However JIK Industries at Rs1.27, Goldstone Technology at Rs57.65 and Atlanta at Rs1,022.65 hit the lower circuit.

Over 13.44 lakh shares of Sobha Developers changed hands on the BSE followed by SAIL (11.58 lakh shares), Century Textiles (11.52 lakh shares) Zee Telefilms (10.77 lakh shares) and Sterling Biotech (10.26 lakh shares).