Unabated rally

The market displayed tremendous strength on firming global cues. The Sensex went into a major recovery mode after the last week’s fall and moved up more than 600 points during intra-day trades. The rally in Asian markets cheered investors back home and the Sensex opened 191 points up at 10,155. Metal and Power stocks led the rally and the respective indices posted gains of more than 7-10%. Firm close in major Asian indices and surge in European markets also helped the sentiment remain bullish, with the Sensex crossing 10,300 by afternoon and maintaining its upwards bias thereafter. Sustained buying in frontline stocks saw the Sensex surge past 10,500 to touch the day's high of 10,571 towards close. The Sensex ended 572 points or 5.74% at 10,536, while Nifty added 175 points at 3,148.

The market breadth was positive. Of the 2,622 stocks traded on the BSE 1,696 stocks advanced, whereas 853 stocks declined. Seventy three stocks ended unchanged. Among the sectoral indices, BSE Metal flared up by 10.92%, BSE Power rose 7.84% and BSE CG moved up by 6.33%. Other indices also ended with gains of more than 0.6% each.

All the Sensex stocks ended at higher levels. Sterlite Industries flared up 13.43% at Rs279.20, Tata Steel shot up by 12.81% at Rs214.45, Tata Power zoomed 11.89% at Rs825.05, Reliance Infrastructure moved up by 10.93% at Rs622.20, Hindalco Industries scaled up 10.50% at Rs471.10, Bharti Airtel surged by 9.13% at Rs709.35 and ONGC jumped by 8.65% at Rs805.

Over 3.10 crore shares of GVK Power & Infrastructures changed hands on the BSE followed by Suzlon Energy (2.07 crore shares), Unitech (1.20 crore shares), Hindalco Industries (1.06 crore shares) and Reliance Natural Resources (94.57 lakh shares).

Valuewise, Reliance Industries clocked a turnover of Rs212 crore followed by Suzlon Energy (Rs142 crore), Reliance Capital (Rs120 crore), Tata Steel (Rs112 crore) and ICICI Bank (Rs101 crore).