Unabated rally

The market displayed tremendous strength on firming global cues. Sensex went into a major recovery mode after last week’s fall and surged by over 250 points during intra-day trades. Rally in Asian markets cheered investors and Sensex had a gap-up opening at 9078, up 74 points. Realty, metal and banking stocks led the rally and the respective indices posted over 3-6% gains on BSE. Firm open in major European indices and positive close in European markets also helped the sentiment remain bullish, with Sensex crossing 9200-mark by afternoon and maintaining upwards bias thereafter. Sustained buying in frontline stocks saw Sensex surge past 9250 mark to touch the day's high of 9271 towards close. Sensex ended the session by gaining 253 points or 2.81% up at 9257, while the Nifty added 78 points 2850.



The breadth of the market was positive. Of the 2,529 stocks traded on the BSE 1,406 stocks advanced, 1,023 stocks declined and 100 stocks ended unchanged. Among sectoral indices BSE Realty flared up by 6.32%, BSE Metal rose 4.44% and BSE Bankex moved up by 3.79%. Other indices also ended with gains over 1-3% each.



All Sensex stocks except a few ended at higher levels. Ranbaxy Laboratories flared up 7.56% at Rs213.50, ICICI Bank shot up by 7.08% at Rs408.35, DLF zoomed 6.63% at Rs177.70, Tata Motors moved up by 4.60% at Rs146.75, Mahindra & Mahindra scaled up 4.28% at Rs283.85, HDFC surged by 4.02% at Rs1,504.60, Reliance Industries jumped by 3.76% at Rs1273.15 and Wipro gained 3.63% at Rs234.35. While Maruti Suzuki India lost 3.15% at Rs520.50, Reliance Communications slipped 3.03% at Rs166.40 and Sterlite Industries moved down 0.41% at Rs266.70.



Over 8.19 crore shares of Satyam Computer Services changed hands on the BSE followed by Unitech (2.54 crore shares), Suzlon Energy (1.16 crore shares), HDIL (92 lakh shares) and Reliance Natural Resources (81 lakh shares).