Post Market Commentary

The market today reported handsome gains with the Sensex rallied over by 950 points, which is its highest ever-single day rally. The market toady boosted on the back of strong global cues as well as due to easing down of US credit crisis after the executives from US assured the investors that the banking system could survive from the shocks of credit losses. The buying activity is seen across the board but scrips from banking, capital goods, metal reportd the highest gains. The market opened on a strong note and keeps on marching forward through out the trading session. Finally, BSE Sensex closed with a hand some gains of 893.58 at 19,929.06 and NSE Nifty surged by 242.5 points to closed at 5,937.90. Overall, the market breadth was strong as 2,024 stocks advanced whereas 764 stocks declined. The BSE mid cap and Small cap closed higher by 171.91 points and 238.09 points at 8,285.63 and 10,039.38 respectively.

BSE oil & gas index improved by 729.94 points to close at 12,138.87 as Essar Oil (36.50%), ONGC (4.39%), Indian Oil (4.18%), Cairn (4.16%) and Gail (2.24%) closed higher.

BSE Metal index grew by 709.30 points to close at 17,756.03 as NALCO (14.71%), Jindal Saw (8.20%), Hindalco Industries (6.95%) and SAIL (5.67%) are closed in green.

BSE bankex index surged by 687.77 points to close at 11,225.82 as HDFC Bank (10.81%), PNB (9.46%), ICICI Bank (8.65%), Oriental Bank (7.60%) and AXIX Bank (4.20%) closed higher.

BSE Capital goods index surged by 574.29 points to closed at 20,866.85. Pushing it up are Siemens by (6.42%), Areva by (5.83%), BEML by (5.40%), BHEL (3.49%), L&T (2.82%) and ABB by (2.56%) closed higher.

BSE IT index closed firmly at 4,280.32 as it was up by 184.59 points. Wipro 6.84%, Infosys 4.84%, Satyam 4.92%, TCS 3.57% and Patni Computer 3.12% closed in green.

BSE Reality index closed higher by 317.70 points at 10,316.36. Leading the rally are Indbul Real by (7.65%), Ansal infra by (6.48%), Omaxe (4.24%), Unitech (2.66%) and Parsvnath (2.25%).