Post Market Commentary - Feb 26 2008

The Indian market rallied through the trading session to close on an upbeat note. The market opened with heavy gains on the back of favoring cues from the global markets and kept on hovering in the positive territory through out the trading session. The market however pared some of its gains soon after the firm start but gained the momentum soon after the declaration of the Union Railway Budget. The Small Caps and Mid Caps also joined the rally of the benchmark indices as they also posted handsome gains. From the sectoral front, the Capital Goods, Realty and Metal stocks remained in the limelight as most buying was seen from these baskets. The BSE Sensex closed higher by 155.62 points at 17,806.19 and NSE Nifty closed up by 69.35 points at 5,270.05. The BSE Mid Cap and Small Cap closed higher by 96.45 points and 122.21 points at 7,690.86 and 9,648.49 respectively.

BSE Metal index grew by 270.85 points to close at 16,801.01. Major gainers are NALCO (7.37%), Jindal Stainless (7.19%), Gujarat NRE (4.21%), Sterlite Industries (23.89%) and SAIL (2.57%).

BSE Oil & Gas index closed higher by 157.38 points at 11,214.76. Gainers are BPCL (5.38%), Cairn India (5.85%), HPCL (4.75%), Indian Oil (4.17%), RPL (1.51%) and GAIL India (1.93%).

BSE Bankex index closed higher by 76.34 points at 10,189.48. Gainers are Bank of India (4.75%), HDFC Bank (2.27%), Union Bank (1.36%), Kotak Bank (1.31%), Centurion Bank of Punjab (1.04%).

BSE Power index closed up by 95.62 points at 3,706.80 as Suzlon Energy (6.26%), Reliance Energy (4.59%), BHEL (4.58%), GMR Infra (3.63%) and CESC (2.07%) closed in green.

BSE IT index grew by 70.13 points to close at 4,062.67 as Karut Net (5%), HCL Tech (4.52%), I-Flex (3.12%), Infosys (3.02%), Aptech (2.54%), NIIT Tech (1.70%) closed higher.

BSE Realty index closed higher by 247.18 points at 10,016.49. Gainers Indbul Real (11.06%), Omaxe (2.43%), Unitech (2.17%), Purvankara (1.65%), Parsvnath (1.30%).