Sensex ends higher; CD, Metal surge

Indian equities continued to rally for the second day on Wednesday. The Sensex ended on a higher note aided by consumer durable, metal and banking stocks except realty. It opened positive amid strong global cues and continued to rally further as buying intensified across all counters to finally close on a strong note after touching a high of 16,480.89.

At the close, the benchmark 30-share index, BSE Sensex gained 202.23 or 1.25% at 16,428.91 with 22 components registering rise. Meanwhile, the broad based NSE Nifty climbed by 58.25 or 1.20% at 4,914.00 with 34 components registering rise.

On global front, European stocks gained for a third straight day after results from BNP Paribas and Deutsche Boerse beat analysts` estimates. US index futures advanced. BNP Paribas rose 2% after France`s largest bank posted its fourth straight quarterly profit. Deutsche Boerse climbed almost 2.5% after reporting a smaller-than-expected loss.

Sensex Movers

Reliance Industries contributed rise of 32.18 points in the Sensex. It was followed by Tata Steel (29.01 points), HDFC Bank (24.62 points), Larsen & Toubro (20.31 points) and Hindalco Industries (13.66 points).

However, Infosys Technologies contributed fall of 10.26 points in the Sensex. It was followed by DLF (2.35 points), Oil & Natural Gas Corporation (1.64 points), NTPC (1.35 points) and Hero Honda Motors (0.2 points).
Biggest gainers in the 30-share index were Tata Steel (6.37%), Hindalco Industries (5.20%), Sterlite Industries (India) (3.54%), HDFC Bank (2.95%), Bharti Airtel (2.44%), and Reliance Communications (1.97%).

On the other hand, D L F (1.34%), Infosys Technologies (0.62%), NTPC (0.39%), Oil & Natural Gas Corporation (0.26%), Hero Honda Motors (0.09%), and ACC (0.08%) were the major losers in the Sensex.

Mid & Small-cap Space

Andrew Yule and Company (1.67%), Astrazeneca Pharma India (1.22%), Aurobindo Pharma (0.75%), Reliance MediaWorks (0.24%) and Ackruti City (0.2%).

Sectors in Limelight

The Consumer Durables index was at 4,117.02, up by 133.02 points or by 3.34%. The major gainers were Videocon Industries (8.67%), Titan Industries (3.8%), Gitanjali Gems (0.93%) and Blue Star (0.84%).

The Metal index was at 16,435.14, up by 515.14 points or by 3.24%. The major gainers were Hindalco Industries (5.2%), Gujarat N R E Coke (3.45%), Hindustan Zinc (2.74%), Jai Corp (2.17%) and Jindal Steel & Power (0.28%).

The Bankex index was at 9,605.45, up by 165.45 points or by 1.75%. The major gainers were HDFC Bank (2.95%), Bank Of India (2.05%), Bank Of Baroda (1.08%), Federal Bank (0.14%) and Allahabad Bank (0.07%).

On the other hand, the Realty index was at 3,372.49, down by 33.94 points or by 1%. The major losers were Indiabulls Real Estate (3.29%), Ansal Properties and Infrastructure (1.59%), D L F (1.34%), Mahindra Lifespace Developers (0.51%) and Ackruti City (0.2%).

Market Breadth

Market breadth was positive with 1,690 advances against 1,131 declines.

Value and Volume Toppers

Tata Steel topped the value chart on the BSE with a turnover of Rs. 1,972.25 million. It was followed by Ruchi Soya Industries (Rs. 1,210.20 million), V I P Industries (Rs. 953.36 million) and Reliance Industries (Rs. 925.98 million).

The volume chart was led by Ruchi Soya Industries with trades of over 13.43 million shares. It was followed by Mahindra Satyam (7.89 million), Dynamic Infotel (6.67 million) and K Sera Sera Productions (5.42 million).