Post Market Commentary

The market after touching the psychological mark managed to close the session with marginal gains as the volatility gripped the market. The benchmark index struck an all time high of 17,073.87 mark as well as the S&P CNX Nifty touched the all time high mark. The IT index remained attractive during the trading session as RBI relaxed the norms for outbound investments by mutual funds as well as raised the limit for the repay of the external loans of the companies. Finally, BSE Sensex closed at 16,921.39 with a gain of 21.85 points. The NSE Nifty advanced by 1.65 points to close at 4,940.50. Overall, the market breadth was positive as 1492 stocks were closed in green whereas 1262 were ended up in red zone while 61 stocks remained unchanged in BSE. The BSE mid cap and Small cap closed with little gains as it was up by 3.19 points and 4.08 points at 7,313.33 and 8,967.51 respectively. The Sensex covers the Journey from 16,000 to 17,000 in just 5 trading sessions, which is the fastest ever surge.

BSE IT index closed firmly at 4,501.97 as it was up by 153.35 points. Patni computers 7.60%, HCL tech 5.81%, Satyam 4.81%, Wipro 4.33%, TCS 3.88% and Infosys 3% closed in green.

BSE bankex index surged by 172.82 points to close at 9,117.80 as Allahabad Bank (3.17%), Andhra Bank (3.53%), ICICI Bank (2.96%), SBI (2.45%) and PNB (1.61%) closed higher.

BSE Metal index grew by 4.81 points to close at 13,085.64 as JSW Steel (4.38%), NALCO (4.71%), Tata Steel (0.97%) and SAIL (0.35%) are closed in green.

BSE oil & gas index slipped by 160.57 points to close at 9,616.94 as Cairn India (6.40%), Reliance industries (3.24%) and RPL (2.57%) closed lower

BSE Capital goods index closed lower by 109.26 points at 14,654.35 as ABB (0.95%), BHEL (0.65%), L&T (0.76%), Suzlon Energy (0.45%) closed in negative.

BSE Health Care Index closed higher by 3.76 points at 3,691.36 as Pfizer 4.65%, Matrix labs 2.33%, Nicholas Piramal 1.64%, Cipla 0.89% and Dr Reddy''s Lab 0.67% closed in positive.