Sensex rallies, steers past 14,200

Today the market went into a major recovery mode despite slipping over 184 points in early trades. The market saw a smart pull-back in the afternoon and gained over 292 points for the day. The sharp appreciation came after the investors bought frontline stocks at lower levels. The recovery in major Asian and European markets also made the undertone bullish in the afternoon and the market maintained an upward bias thereafter. Strong buying in capital goods, FMCG and metal stocks helped the Sensex cross 14,200 levels and touch the day's high of 14,281. The Sensex finally ended the session with a gain of 1.86% or 260 points at 14,249. The Nifty rose 1.92% or 78 points to close at 4,153.

However, the breadth of the market was negative. Of the 2,674 stocks traded on the BSE 1,576 stocks declined, 1,041 stocks advanced and 57 stocks ended unchanged. Among the sectoral indices the BSE Capital Goods Index flared up by 3.40%, the BSE FMCG Index rose 2.38%, the BSE Metal Index moved up by 2.38% and the BSE Teck Index was up 1.88%. However, the BSE Realty index, the BSE Auto index, the BSE CD index and the BSE HC index closed in the red.

Barring Tata Motors, Cipla, SBI and Maruti Udyog, all other Sensex stocks ended at higher levels. BHEL flared up 4.81% at Rs1,667, Reliance Energy shot up by 4.74% at Rs725, Tata Steel zoomed 4.28% at Rs570, ITC moved up by 4.07% at Rs158, Bharti Airtel scaled up 4.04% at Rs846, L&T surged by 3.52% at Rs2,390, Ambuja Cement jumped by 2.96% at Rs131 and Reliance Communication gained 2.40% at Rs495.

Capital Goods stocks were in demand and attracted strong buying support. Siemens spurted by 9.17% at Rs1,231, Praj Industries shot up by 8.41% at Rs181, Suzlon Energy flared up 4.77% at Rs1,290 and Areva jumped by 3.56% at Rs1,440. Metal, too, logged significant gains. Sterlite Industries soared 4.35% at Rs567, Maharashtra Seemless Steel added 2.61% at Rs562, Hindustan Zinc jumped by 2.47% at Rs692 and Hindalco climbed 2.02% at Rs139.

Over 2.83 crore Nagarjuna Fertilisers shares changed hands on the BSE followed by IKF Technologies (1.68 crore shares), Chambal Fertilisers (1.18 crore shares), IFCI (1.15 crore shares) and Ispat Industries (78.61 lakh shares).

Value wise, Reliance Industries clocked a turnover of Rs187 crore followed by SBI (Rs150 crore), Zylog Systems (Rs145 crore), GMR Infrastructure (Rs127 crore) and Orbit Corporation (Rs101 crore).