Volatile but buoyant

The market wiped out losses of over 20 points incurred in the first half, after a strong bout of buying led by Tata Motors, JP Associates and Tata Steel triggered wide-spread buying. In a highly volatile trading session, the Sensex resumed 32 points higher at 8,779, but soon turned negative following weakness in global indices and crashed to the day's low of 8,727 on relentless selling. While the market was on a recovery path thereafter, the Sensex witnessed a sharp turnaround in afternoon, as gains in heavyweights, realty, metal and capital goods stocks propelled it to an intra-day high of 9,245. After gyrating 518 points during the intra-day trades, the Sensex gained 482 points to close at 9,230, while Nifty ended 132 points higher at 2,788.

The market breadth ended Positive. Of the 2,231 stocks traded on the BSE 1,503 stocks advanced, 668 stocks advanced and 60 stocks ended unchanged. All sectoral indices ended in the positive territory. The BSE Realty led the pack and gained 12.44% followed by BSE Metal (up 7.93%), BSE CG (up 6.91%), BSE Oil & Gas (up 5.86%) and BSE Power (up 5.64%).

Tata Motors was the star performer among the heavyweights and the stock soared 13.44% at Rs151.10. Among the other major gainers, JP Associates advanced 12.42% at Rs185.15, DLF jumped 11.93% at Rs214.80, Sterlite Industries rose 8.38% at Rs253.50, ICICI Bank moved up by 8.38% at Rs362.95, Reliance Industries advanced 8.37% at Rs1,159 and Larsen & Toubro added 7.95% at Rs745. While the rest of Sensex stocks ended positive.

Realty stocks were in demand and scaled higher. Anant Raj soared 20% at Rs58.50, HDIL flared up 18.47% at Rs92.35, Orbit added 18.20% at Rs46.75, Indiabulls Real Estate gained 17.17% at Rs109.85, Unitech, Parsvnath and DLF were up 11-15% each. In metal pack, JSW zoomed 19.50% at Rs219.35, Tata Steel shot up by 13.84% at Rs187.50, Welspun rose 11.33% at Rs87.95 and SAIL gained 9.90% at Rs70.60.

Over 3.19 crore Unitech shares changed hands on the BSE followed by Suzlon Energy (2.46 crore shares), GVK Power & Infrastructure (1.81 crore shares), HDIL (1.10 crore shares) and JP Associates (0.82 crore shares).