Post Market Commentary - Feb 21 2008

The market made a smart recovery towards the final trading hours of the session to close with handsome gains. The market opened on a strong note by taking the favoring cues from the global markets and rallied across the sectoral indices. Due to high volatility, the market dipped into the negative territory by paring all its initial gains but managed to made a good recovery at the end on the back of heavy buying across the counters. The Small Cap and Middle Cap also registered good gains as the investors also showed heir confidence in buying from these baskets. From the sectoral front, the IT stocks and Metal stocks remained the centre of attraction as most buying was seen from these counters. The BSE Sensex closed higher by 117.08 points at 17,734.68 and NSE Nifty closed up by 37.35 points at 5,191.80. The BSE Mid Cap and Small Cap closed higher by 79.54 points and 61.73 points at 7,668.93 and 9,692.99 respectively.

BSE Metal index surged by 605.85 points to close at 16,439.38 as Gujarat NRE (7.72%), Hindalco Industries (7.22%), NALCO (6.73%), SAIL (5.63%), Tata Steel (4.33%), Jindal Saw (3.14%) and Jindal Steel (2.89%) closed higher.

BSE IT index closed higher by 184.14 points at 4,041.97 as Satyam Comp (8.45%), Rolta India (7.13%), NIIT Ltd (6.84%), Mphasis (5.59%), HCL Tech (5.98%), Infosys (3.96%) and Wipro (4.95%) closed in green.

BSE CG closed lower by 94.97 points at 15,837.90 as ABB (4.02%), BEML (3.61%), Bharat Electrical (3%), BHEL (1.51%), Crompton Greaves (1.25%) and Siemens (0.69%) closed lower.

BSE Bankex index closed lower by 130.87 points at 10,478.94. Losers are Bank of Baroda (5.19%), PNB (5.09%), Union Bank (4.58%), Canara Bank (4.41%).

BSE Realty index grew by 29.53 points to close at 9,738.77. Gainers are Penland (7.22%), Purvankara (6.52%), Anant Raj (3.10%), DLF (2.58%).

BSE Oil & Gas index grew by 28.26 points to close at 10,912.26 as Aban Offshore (3.35%), Cairn India (2.23%), RNRL (2.34%), Reliance Inds (0.78%) and RPL (0.46%) closed higher.