Post Market Commentary - Feb 14 2008

The market closed with handsome gains by creating a rally across the sectoral indices. The market opened on a firm note taking the strong favoring cues from the global markets i.e. an unexpected rise in US retail sales in Janurary 2008 that gave a boost to the domestic market. In the domestic front, the central government approved the proposal for a hike in retail fuel prices i.e. Rs 2 per litre for petrol while Re 1 for diesel. The Small Cap and Mid Cap also joined the rally with the benchmark indices to post strong gains. From the sectoral front, CG, Oil & Gas and Metal remained the centre of attraction as most buying was seen from these counters. The BSE Sensex closed higher by 817.49 points at 17,766.63 and NSE Nifty grew by 272.55 points to close at 5,202. The BSE Mid Cap and Small Cap closed up by 377.19 points and 358.06 points at 7,452.72 and 9,407.76 respectively.

BSE CG grew by 1,140.36 points to close at 16,282.17. Gainers are Praj Inds (14.42%), BHEL (12.63%), Punj Lloyd (10.52%), Suzlon Ener (7.83%), L&T (7.03%), Seimens (5.90%).

BSE Metal index surged 847.58 points to close at 15,621.89 as Jindal Stainless (10.72%), Jindal Steel (10.21%), Hindalco Inds (9.20%), Bhushan Steel (9.11%) closed higher.

BSE Oil & Gas index advanced by 755.38 points to close at 10,932.36. Scrips that gained are Essar Oil (16.21%), HPCL (14.81%), IOCL (13.83%), RPL (13.56%) and BPCL (10.86%).

BSE Realty index grew by 714.66 points to close at 10,143.55 as Ansal Infra (15.73%), Phoenix mill (11.22%), Unitech (10.28%), Indbul Real (8.86%), Omaxe (8.01%) closed in green.

BSE Bankex index closed higher by 471.02 points at 10,614.09. Gainers are IOB (7.67%), Union bank (6.81%), Yes bank (6.29%), Allahabad bank (5.96%), ICICI bank (5.74%).

BSE Power index increased by 280.58 points at 3,729.16 as GMR Infra (12.41%), Reliance Ener (9.63%), Crompton Greaves (9.79%), Torrent Power (7.33%).