Sensex ends firm; M&M zooms 14.26%

The Sensex ended on a firm note as intense buying was seen in frontliners. Consumer durables, consumer goods, metal, auto and realty stocks led the advances, while FMCG stocks declined. It opened on a buoyant note, with a gain of 172.95 points, at 10,521.78 on Monday and gained further strength touching a high of Rs 10,654.89. Later, it pared some of its gains touching a low of 10,410.44.

Secondline stocks also supported the upmove. BSE Midcap and Smallcap index rose 2.48% and 3.21% respectively.

Amongst the sectoral indices, BSE Consumer durables soared 5.84%, Consumer goods, Metal and Auto surged over 3% each, Realty gained 2.97%, while FMCG was down by 1.82%.

On global front, Asian stocks rose, led by banks and carmakers and supported by the yen weakened to a five-month low and the statement by US Federal Reserve chairman Ben S Bernanke that policies to unfreeze credit markets are working. Nikkei gained 108.09 points, or 1.24%, to end at 8,857.93, Hang Seng index rose 452.35 points, or 3.11%, to close at 14,998.04 and Taiex index climbed 26.59 points, or 0.48%, to finish at 5,556.22.

European stocks advanced, as investors speculated the worst of the recession may be over. UK`s benchmark index FTSE 100 climbed 36.99 points, or 0.92%, to trade at 4,066.66. French benchmark index CAC 40 gained 33.63 points, or 1.14%, to trade at 2,992.37 and Germany`s benchmark index DAX advanced 44.70 points, or 1.02%, to trade at 4,429.69. (4.20 p.m., IST).

The Sensex ended the day with a gain of 186.04 points, or 1.80% at 10,534.87 after touching a high of 10,654.89 and a low of 10,410.44. The broad-based NSE Nifty climbed 45.55 points, or 1.42% at 3,256.60 after hitting a high of 3,303.90 and a low of 3,211.35.

Biggest gainers in the 30-share index were Mahindra & Mahindra (14.26%), Reliance Communications (11.19%), Larsen & Toubro (7.40%), Housing Development Finance Corporation (7.37%), Reliance Energy (6.47%), and Hindalco Industries (6.39%).

On the other hand, ACC (3.14%), ITC (2.49%), Ranbaxy Laboratories (2.30%), Grasim Industries (2.13%), Hindustan Unilever (1.67%), and State Bank Of India(1.43%) were the biggest losers in the Sensex.

Overall market breadth was sharply positive. Out of the total 2,567 stocks traded at BSE, 1,859 advanced, 633 declined while 75 remained unchanged.