Post Market Commentary

The market made a smart recovery after the mid session due to the softening of left parties over the nuclear deal. The left parties have agreed to allow the government for negotiation with US over the nuclear agreement. This act as trigger, which set the directions for the market. At the initial stage, volatility was high but later on managed to bag huge gains on the back of heavy buying across the sectoral indices scrips. The capital goods, Bankex, Metal and Power index reported heavy buying. Finally the BSE Sensex closed higher by 298.21 points at 19,035.48 and NSE Nifty inched up by 78.3 points to close at 5,695.40. The overall the market breadth was strong as 1,859 stocks closed in green while 898 stocks closed in red. The BSE Mid Cap and Small Cap closed higher by 168.56 points and 181.65 points at 8,113.72 and 9,801.29 respectively.

The Reality index inclined by 199.60 points to close at 9,998.66. Pulling it up are Anant Raj (6.48%), Ansal Infrastructure (4.76%), DLF (3.90%), Ansal infra (4.76%) and Parsavnath (2.41%) closed in green.

The IT index fell by 39.41 points to close at 4,095.73 as Wipro (3.59%), Patni Computer (2.65%), Mphasis (2.44%), TCS (1.53%) and Infosys (0.88%) closed lower.

BSE Metal index inclined by 280.67 points to close at 17,046.73 Pulling it up are Welspan (11.45%), Jindal Steel (3.86%), SAIL (2.23%), Tata Steel (2.18%), JSW Steel (2.09%) and Sterlite Industries (1.76%) closed in red.

BSE bankex index surged by 351.73 points to close at 10,538.05. From the gainers pack are HDFC Bank (6.98%), Axix Bank (6.15%), Bank Of India (5.05%), Andhra Bank (4.25%) and Kotak Bank (4.21%) closed higher.

The oil and gas index closed up by 39.69 points at 11,408.93. Pushing it higher are BPCL (2.54%), Essar Oil (1.03%), Reliance industries (0.71%) and ONGC (0.32%) closed in green.

The Auto index inched up by 26.30 points to close at 5,136.25 as Punjab tractors (5.23%), Bharat forge (4.02%), Tata Motors (1.14%) and TVS (1.55%) closed higher.