Post Market Commentary

After struggling for the whole day to come to the green territory, the bulls have finally made the market to end on a cheerful note. It seems to be terrific U turn for the market as it ended with heavy gain after opening with a deep gap. It recovered the losses and also made good gains before ending the trading session. The benchmark index Sensex hit the 20,000 level again but ended marginally below that mark. Further, NSE Nifty, which had slipped below 5700 levels climbed back in the last hour of trading and ended above 5900 level. This sudden recovery of the market is also attributed to the short covering done by the traders. All the indices made a smart recovery & finally ended in green. Atlast, the benchmark index Sensex ended up with the gain of 251.88 points at 19,976.23, whereas Nifty also closed with a gain of 65.95 points to close at 5,932.40. Further, BSE Midcap and BSE Smallcap also closed higher by 55.26 points and 95.82 points at 8,021.80 & 9,742.43 respectively. The market breadth stood flat with 1399 stocks on the advancing side and 1340 stocks on the decline side & 63 unchanged.

BSE Bankex stood as the top gainer for the day with the smart gain 389.84 points to close at 11,241.53. Scrips gained are State Bank of India (8.74%), Bank of Baroda (6.54%), Union Bank (5.92%), HDFC Bank (4.97%) & Allahabad Bank (3.59%).

BSE Capital goods stood in the second position with the gain of 245.22 points at 20,386.41. Pushed it up are Punj Lloyd up by (6.30%), Areva (5.97%), Kir Oil Engineering (5.54%), Lakshmi Machinery Works (3.37%) and Siemens (3.04%).

BSE Oil & Gas also shared the gaining rally with 196.59 points to close at 11,736.43. Scrips gained mainly are Essar Oil by (5.04%), RPL (2.88%), ONGC (2.70%), IOC (2.61%) and Cairn India Ltd (2.12%).

BSE Metal also gained 111.12 points to close at 17,693.66. Scrips surged are, Jindal Steel up by (4.59%), Jindal Stainless (1.56%), Tata Steel (0.98%) & Bhusan Steel (0.94%).