Sensex ends above 11k; Wipro soars 11.11%

The Sensex rallied at the end on relentless buying seen in frontliners. Metal, IT, realty, auto and banking stocks also led the upsurge. It opened positive with a gain of 24.03 points, at 10,841.57 today and after few minutes of trading, the index slipped into negative, touching a low of 10,758.97, to again bounce back into the positive amid volatility. As the day progressed, the benchmark index gained further ground, breaching 11,000 level and touching a high of 11,203.28 to finally close on a strong note.

BSE Midcap and Smallcap index rose 1.48% and 0.94% respectively.

Amongst the sectoral indices, BSE IT and Metal soared over 5% each, Realty surged 4.21%, Auto and Bankex rose over 3% each, while Consumer durables dipped 0.06%.

Asian stocks gained, on takeover speculation in the beverage industry and a buy recommendation on Japanese automakers from Goldman Sachs Group. Nikkei gained 119.71 points, or 1.37%, to end at 8,847.01, Hang Seng index rose 336.01 points, or 2.26%, to close at 15,214.46 and Shanghai Composite advanced 2.61 points, or 0.11%, to settle at 2,463.95.

European stocks fell as unexpected losses at Akzo Nobel and Logitech International offset better-than-estimated earnings from Credit Suisse Group. FTSE 100 gained 11.35 points or 0.28, to trade at 4,042.01, CAC 40 rose 10.90 points, or 0.36%, to trade at 3,036.14 and DAX fell 20.19 points, or 0.44%, to trade at 4,574.23. (4.20 p.m., IST)

The Sensex ended the day with a gain of 317.45 points, or 2.93% at 11,134.99 after touching a high of 11,203.28 and a low of 10,758.97. The broad-based NSE Nifty climbed 93.40 points, or 2.80% at 3,423.70 after hitting a high of 3,439.90 and a low of 3,310.50

Major gainers in the 30-share index were Wipro (11.11%), Tata Steel (8.98%), Grasim Industries (7.21%), Reliance Energy (6.67%), Sterlite Industries (India) (6.02%), and Maruti Suzuki India (6.02%).

On the other hand, Sun Pharmaceutical Industries (0.42%), Hindustan Unilever (0.31%), and Bharti Airtel (0.25%) were the biggest losers in the Sensex.

Overall market breadth was extremely positive. Out of the total 2,600 stocks traded at BSE, 1,441 advanced, 1,056 declined while 103 remained unchanged.

Corporate result

Reliance Petroleum (RPL) has posted a net profit after tax of Rs 840 million for the quarter ended Mar. 31, 2009. Net sales of the company during the quarter stood at Rs 36,780 million while total income stood at Rs 37,020 million.