Market near 4900

On a good start, the market capitalised on strong sentiments to trade higher all the day for an excellent finish. The session was market with glitches and snags only to see buying emerge at lower levels. Buying across the sectors especially realty and metal scrips saw Sensex close 240 points higher at 16454 and Nifty while the Nifty 83 points up at 4892.

Advancing shares outnumbered the declining by almost 2:1. All the 13 sectoral indices on the BSE were up. BSE Realty and BSE Metal topped the chart moving 3.91% and 3.74% respectively up. Rest of the 10 sectoral indices were up in the range of 0.5-3%.

Most of the heavyweights had a good outing. Copper major Sterlite Industries gained 3.34% to quote at Rs743.50, India’s largest aluminium maker Hindalco Industries moved up 3.30% to Rs125.10 and , conglomerate Grasim Industries increased 0.59% to Rs2,612.35. ADAG’s , Reliance Communications was up by 2.80% to Rs300.65, Realty company DLF gained 5.20% to Rs412.40, India’s largest engineering and construction company Larsen & Toubro added 1.35% to trade at Rs1,629.40 and private sector lender ICICI Bank gained 2.03% to Rs842.30. World’s sixth largest steel company, Tata Steel advanced 2.54 to Rs491.25, India’s largest truck maker Tata Motors added 1.33% at Rs569.25, the largest public sector bank State Bank of India gained 2.71% to trade at Rs2,009.25 and FMCG major Hindustan Unilever lost 0.31% to Rs259.30. ITC, ACC, HDFC, Infosys Technologies all showed upward movement. Among select losers, National flagship oil company ONGC declined 0.93% to Rs1,150.70 and telecom major Bharti Airtel lost 0.80% to Rs416.05.

Unitech was the largest traded shares with over 1.26 crore shares hands on the BSE followed by Spicejet (1.23 crore shares), IFCI (1.08 crore shares), Suzlon Energy (1.04 crore shares) and Ispat Industries (0.83 crore shares).