Markets put a brave front

The market wiped out a loss of over 363 points incurred during intra-day trades after a strong bout of buying led by DLF, Reliance Infrastructure and Reliance Industries in afternoon changed the sentiment to bullish. The 50-stock benchmark of the BSE, Sensex, was 274 points down at 9,371 at the opening bell taking cues from weak Asian indices, and crashed to the day's low of 9,282 on relentless selling pressure amid high volatility. The market showed strong optimism thereafter and the Sensex witnessed a sharp turn-around as gains in heavyweight, reality, oil and consumer durable stocks propelled it to an intra-day high of 9,746. The market turned extremely choppy and gyrated between the positive and negative territories for the later part of the trading session and the Sensex closed with a gain of 45 points at 9,690. Nifty ended a point up at 2,921.

The market breadth was marginally positive. Of the 2,479 stocks on the BSE, 1,547 stocks advanced, 851 stocks declined
and 81 stocks ended unchanged. Most of the sectoral indices ended in the green. BSE Realty advanced 3.94% followed by BSE CD (up 2.93%) and BSE Oil & gas (up 2.34%). However, BSE IT slipped 2.88%, BSE Teck (down 1.70%) and BSE HC (down 0.32%).

Among the Sensex stocks, DLF was the leading gainer and its stock price soared 7.73% at Rs276.50, Reliance Infrastructure advanced 7.25% at Rs648.30, Reliance Communications jumped 4.18% at Rs249.20, Reliance Industries gained 3.76% at Rs1,306.20, Hindalco Industries moved up by 3.12% at Rs52.90, Tata Power added 2.71% at Rs750.80 and Mahindra & Mahindra surged 2.32% at Rs292.95. Among the laggards, Tata Consultancy Services slipped 5% at Rs482.25, Wipro shed 4.52% at Rs238.70, Tata Motors declined by 4.02% at Rs154.10, ONGC fell by 2.72% at Rs646.45 and Bharti Airtel lost 2.69% at Rs722.30.

Over 2.37 crore shares of Reliance Natural Resources Ltd (RNRL) changed hands on the BSE followed by IFCI (1.87 crore shares), Suzlon Energy (1.75 crore shares), Unitech (1.49 crore shares), Reliance Petroleum Ltd (1.41 crore shares) and GVK Power & Infrastructure (1.22 crore shares).

Reliance Industries registered a turnover of Rs499 crore on the BSE followed by RNRL (Rs300 crore), Reliance Capital (Rs299 crore), DLF (Rs207 crore) and Reliance Infrastructure (Rs185 crore).