Post Market Commentary - Feb 15 2008

The market closed on a strong note by posting good gains across the sectoral indices. The market opened on weak note taking the unfavoring cues from the global markets but the market got the momentum towards the mid session to pare all its initial losses to close with handsome gains. The market also got the momentum as the India''s wholesale price index rose 4.07% in the 12 months to 2 February 2008, marginally lower than the previous week''s rise of 4.11%. The Mid Cap and Small Cap also joined the rally of the benchmark indices to post strong gains. From the sectoral front, most buying was seen from the metal, realty, oil & gas and bankex space. The BSE Sensex closed higher by 348.62 points at 18,115.25 and NSE Nifty grew by 100.9 points to close at 5,302.90. The BSE Mid Cap and Small Cap closed up by 139.36 points and 213.37 points at 7,592.08 and 9,621.13 respectively.

BSE Realty index grew by 353.72 points to close at 10,497.27 as Unitech (6.72%), Ansal Infra (4.98%), Penland (4.03%), Mahindra Life (2.81%), Omaxe (2.42%) closed in green.

BSE Metal index surged 545.27 points to close at 16,167.16 as Hindalco Inds (9.01%), Tata Steel (5.12%), Hind Zinc (4.53%), Ispat (3.69%), Nalco (3.52%), SAIL (3.32%) and Sterlite (2.93%).

BSE CG grew by 136.13 points to close at 16,418.30. Gainers are SKF India (4.54%), ABB (2.82%), Punj Lloyd (3.07%), Kalpataru Power (2.20%), AIA Eng (2.41%) and BHEL (1.31%).

BSE Oil & Gas index advanced by 336.73 points to close at 11,269.09. Scrips that gained are Essar Oil (9.77%), IOCL (4.45%), GAIL India (4.15%), HPCL (3.75%), RNRL (3.71%).

BSE Bankex index closed higher by 270.33 points at 10,884.42. Gainers are SBI (4.21%), Yes bank (3.94%), Kotak bank (3.65%), BOB (3.29%), Axis bank (3.26%) and Canara bank (2.90%).

BSE Power index increased by 39.68 points to close at 3,768.84 as ABB (3.82%), GMR Infra (3.32%), Power Grid (2.91%), CESC (2.50%), Tata Power (1.48%) and Torrent Power (1.30%).