On track after week

After a subdued trend last week, Sensex staged a recovery today and Nifty scaled high. Bulls were back in action after closing flat on Friday, as the market registered sharp gains on the back of all-round buying support. Taking cue from buoyant international indices, Sensex resumed 129 points above its previous close at 8803 on the back of strong buying in heavyweight, metal and fast moving power stocks. This buoyancy triggered a major rally that propelled the index to an intra-day high of 9022 in afternoon. Though Sensex held firm above 8900 for a major portion of the trading session, it finally closed at 9004, up 330 points. Nifty advanced 92 points at 4261.



The breadth of the market was positive on BSE. Of the 2,484 stocks traded on BSE 1,208 stocks advanced, 1,176 stocks declined and 100 stocks ended unchanged. All the sectoral indices on BSE ended positive. BSE Metal ended firm with gains of 5.55% while BSE Power rose 4.66%. BSE Teck added 4.39% and BSE IT added 4.05%. While BSE Oil, BSE Bankex, BSE Realty and BSE Teck ended in the positive territory.

Action in several index heavyweights lifted the market. Sterlite Industries led the pack and shot up by 11.84% at Rs267.80. Reliance Energy soared 11.14% at Rs539.60, Reliance Communications surged 7.15% at Rs171.60, Sun Pharmaceutical Industries flared up by 6.43% at Rs1075.85, Reliance Industries jumped by 6.41% at Rs1227, National Thermal Power Corporation added 5.99% at Rs190.15, Ranbaxy Laboratories advanced by 5.87% at Rs198.50, Wipro moved up by 5.75% at Rs226.15 and Bharti Airtel was up 5.21% at Rs647.75.



Over 4.84 crore shares of Satyam Computer Services changed hands on BSE followed by Unitech (1.17 crore shares), GVK Power & Infrastructure (0.88 crore shares), Reliance Natural Resources (71.40 lakh shares) and United Spirits (70.60 lakh shares).


Valuewise, United Spirits registered a turnover of Rs327 crore on BSE followed by Satyam Computer Services (Rs225 crore), Reliance Industries (Rs212 crore), Educomp Solutions (Rs131 crore) and Reliance Infrastructure (Rs128 crore).