Market extends its winning streak

The market extended its winning streak for the fifth consecutive session, as firm Asian indices and strong buying in frontline stocks helped the sentiment remain bullish for the better part of the trading session. After accumulating over 1,500 points in the last four sessions, Sense opened well above its previous close and rallied sharply above 13,800. While, the market remained well above 14,800 mark in the first half, it gained further as buying continued and touched the intrude high of 14,980, up 876 points. However, the Sense finally ended the session with a gain of 838 points at 14,942, while Nifty added 237 points to close at 4,477.

The market breadth was extremely positive. Of the 2,257 stocks traded on the BSE, 2,257 stocks advanced, 442 stocks declined and 59 stocks ended unchanged. Among the sect oral indices, BSE Banked jumped 9.99% at 7,292 followed by BSE CG index (up 8.18% at 12,340), BSE Realty index (up 8.08% at 5,199) and BSE Power index (up 7.74% at 2,707).

Most of the heavyweights ended with solid gains, however, select frontline stocks closed with marginal losses. Among the blue chips, Reliance Communications shot up by 12.20% at Rs525.25, ICICI Bank soared 11.64% at Rs738.25, BHEL surged 10.92% at Rs1,772, HDFC gained 10.92% at Rs2,380, SBI moved up 10.45% at Rs1,543 and Reliance Infra advanced by 10.36% at Rs1,014.50. HDFC Bank added 9.57% at Rs1,205.75, DLF moved up 9.12% at Rs495.55, JP Associates scaled up 8.37% at Rs172.80 and L&T was up 7.58% at Rs2,766.65. Among the laggards Copal dropped 2.21% at Rs232.50 and HUL slipped 0.65% at Rs228.15.

Banking stocks closed with strong gains. Yes Bank vaulted 16.76% at Rs140, Karnataka Bank soared 14.68% at Rs142.60, Kodak Bank surged 13.46% at Rs578.80, Federal Bank gained 12.55% at Rs202.30 and Canada Bank advanced by 10.22% at Rs188.75.

Over 5.55 crore Reliance Natural Resources Ltd (RNRL) shares changed hands on the BSE followed by IFCI (2.13 crore shares), Reliance Petroleum (1.69 crore shares), Spat Industries (1.42 crore shares), Reliance Power (1.39 crore shares) and IDFC (1.06 crore shares).

RNRL clocked a turnover of Rs480 crore on the BSE followed by Reliance Capital (Rs476 crore), Reliance Petroleum (Rs286 crore), Reliance Industries (Rs278 crore) and Reliance Communications (Rs259 crore).