Market Close: Reliance stocks uproars for the day..

Friday's rally continued in the market as buying was seen across all the sectors. Today markets rallied despite some mixed global cues where Asia ended mixed. Sectors like Auto, Power, metal and capital good stocks were in the limelight for the day while Telecom and Banking stock were under pressure. In the mid session markets traded stable at the higher levels without showing any sign's of weakness. In mid cap space stock like Essar Oil, Videocon Ind, IFCI, Gitanjali Gems and Dish TV were garnering interest in investors. Both mid caps and Small caps ended up by 2.5% higher outperforming the heavyweights. IT pivotals advanced well on value buying seen across the counter. Market during the final hours managed to sustain its accumulated gains and closed at higher level. Auto Stocks come out with their November sales number which were mixed as two wheelers had slight dip in sales while 4 Wheelers managed cheer with the festive Season. Reliance pack were all on fire from Reliance Industries to RNRL but RPL was out of the race.

Sensex ended up by 240 points at 19603.41. It was helped up by gains in Rel Energy (1900.15,+9 percent), Wipro (493.4,+7 percent), RCVL (711.8,+5 percent), TCS (1052.95,+4 percent) and Hindalco (191.55,+3 percent). Restricting the gains were Hero Honda (705.3,-2 percent), ICICI Bk (1165.25,-2 percent), Bharti Tele (924.3,-2 percent), HDFC (2746.25,-1 percent) and HDFC Bk (1701.2,-1 percent).

Auto companies were much in action as they came out with their Numbers. In the two wheelers segment: Bajaj Auto sales for two wheeler in November stood at 2.11 lakh units Vs 2.14 lakh units (YoY). Its total November sales stood at 2.35 lakh units? Vs 2.43 lakh units (YoY) which was down nearly 3%. TVS Motors November motorcycle sales stood at 57,113 Vs 68,874 units which fell by 17%. TVS Motor's two wheeler sales slipped by 5% to 1.12 lakh units on yoy basis. In the four wheelers segment: Maruti Udyog witnessed a good sales growth mainly on the back of performance in Swift & SX4. Total sales stood at 69,699 Vs 55,033 vehicles (YoY) for November. Its November passenger cars sales at 64,885 Vs 52,333 vehicles (YoY). Exports were at 4,483 Vs 2,459 vehicles, YoY. Mahindra & Mahindra also reported its vehicle sales which were up by 37% to 18,585 units on YoY basis. This includes utility vehicles, light commercial vehicles and three-wheelers up by 36 % to 17,846 units. Exports sales were up to 739 units from 443 units. Logan sales were 1,561 units. Sedans numbers were also in line the with expectation in November. Mahindra tractor sales were up by 1% up to 8,066 units on YoY basis. In overall growth two wheelers failed to perform for the festival season as major concern was on interest rates which are still high when compared to what they were about a year ago. Industry is still in hope that it will start growing and hopefully the interest rates will come down. Major auto stocks ended marginally up by 2%.

Lok Housing and Construction Ltd, a prominent player in real estate in and around Mumbai was in limelight for the day. Lok Housing caters to the housing needs of the middle-income group, mainly in the suburbs of Mumbai. It is planning to commence premium projects in Mumbai and at other places like Pune, Vasai, Bangalore, Turbhe.Till date Lok Housing has completed 31 projects over 17,000 units and 9mn sq.ft area. Report says that land bank of group companies will be merged into Lok Housing subject to approval. Lok is managing to cap the real estate bhoom in India with its up coming projects in major Tier 2 cities. One can bet on the value of the land bank it holds which gives more space to have positive out look for the company. We are positive on the company business. Do read our detailed research note to know our view. Stock ended up by 9%.

Technically Speaking: Markets traded strong followed by positive momentum continued with strong positive breadth. Sensex touched intraday high of 19619 and low of 19447. Overall market turnover was good at Rs 9264 Cr. Market breadth was in favor of Advances, where the Decliners stood at 710, Advances were stood at 2057. Sensex has taken resistance on the rising trend line at 19620. This will remain a crucial level to watch tomorrow. If markets fail to hold above this, we might correct upto 19200.