D-Street closes at day`s high; Sensex surges 339 pts

Dalal Street closed at day`s high today, as Indian equities witnessed a magnificent rally aided by strong global cues, persistent buying seen in heavyweights like Reliance Industries, ICICI Bank and Infosys. On sectoral front, metals gained the most followed by banking, realty, oil & gas and IT stocks. Broader markets too led the upsurge. Both Sensex and Nifty at 31 month high.



After opening in the negative terrain, the Sensex moved up into the positive zone tracking strong Asian cues and proceeded to scale higher on intense buying seen across board. Moreover, it rallied further over 300 points, mounting above 18,500 and Nifty above 5,500 mark helped by strong European markets. The bulls were back in action, finally. Sensex closed on a cheerful note, hitting a high of 18,600.30.

European stocks gained for the fourth time in five days, extending a four-week high for the Stoxx Europe 600 Index, as a report on UK manufacturing eased concern that the economic recovery is faltering.

Asian stocks rose, driving up the MSCI Asia Pacific Index by the most in two months, as better- than-estimated jobs data fueled confidence the U.S. economy will skirt a recession

At the close, the benchmark 30-share index, BSE Sensex gained 338.62 points or 1.86% at 18,560.05 with 26 components posting rise. Meanwhile, the broad based NSE Nifty went up by 97.55 or 1.78% at 5,576.95 with 43 components posting rise.

Sensex Movers

Reliance Industries contributed rise of 67.3 points in the Sensex. It was followed by I C I C I Bank (53.76 points), Infosys Technologies (37.67 points), State Bank Of India (32.52 points) and Tata Steel (27.57 points).

However, Hero Honda Motors contributed fall of 4.51 points in the Sensex. It was followed by Larsen & Toubro (0.97 points), Hindustan Unilever (0.84 points), Reliance Communications (0.47 points) and Sun Pharmaceutical Industries (0.4 points).

Biggest gainers in the 30-share index were Tata Steel (6.60%), Hindalco Industries (4.78%), I C I C I Bank (3.81%), Sterlite Industries (India) (3.69%), Jaiprakash Associates (3.28%), and State Bank Of India (3.07%).

On the other hand, Hero Honda Motors (1.92%), Reliance Communications (0.31%), Hindustan Unilever (0.22%), and Larsen & Toubro (0.07%) were the biggest losers in the Sensex.

Mid & Small-cap Space

The Midcap and Smallcap index rose 1.31% and 1.83% respectively.

Sectors in Limelight

The Metal index was at 15,878.80, up by 532.24 points or by 3.47%. The major gainers were Hindalco Industries (4.78%), JSW Steel (2.92%), Jindal Steel & Power (1.68%), National Aluminium Company (1.57%) and Hindustan Zinc (1.25%).

The Bankex index was at 12,728.73, up by 257.26 points or by 2.06%. The major gainers were Federal Bank (1.34%), Canara Bank (1.12%), Bank Of Baroda (0.9%), H D F C Bank (0.55%) and Bank Of India (0.04%).

The Realty index was at 3,557.08, up by 69.19 points or by 1.98%. The major gainers were Housing Development and Infrastructure (3.59%), Indiabulls Real Estate (1.87%), D L F (1.66%), Anant Raj Industries (0.73%) and Ackruti City (0.59%).

The Oil & Gas index was at 10,178.23, up by 196.48 points or by 1.97%. The major gainers were G A I L (India) (1.43%), Hindustan Petroleum Corporation (1.4%), Essar Oil (1.19%), Aban Offshore (0.54%) and Indian Oil Corporation (0.09%).

Market Breadth

Market breadth was positive with 2,108 advances against 919 declines.

Value and Volume Toppers

Tata Steel topped the value chart on the BSE with a turnover of Rs. 2,001.47 million. It was followed by Midfield Industries (Rs. 1,685.40 million), Prakash Steelage (Rs. 1,458.19 million) and Reliance Industries (Rs. 1,321.48 million).

The volume chart was led by Cals Refineries with trades of over 54.70 million shares. It was followed by Karuturi Global (12.98 million), Prakash Steelage (8.61 million) and Ispat Industries (8.58 million).