Nifty ends above 5750...SBI, RIL lead

Bulls went on rampage today, extending last weeks solid gains, as world markets roared back to life amid easing concerns over the ongoing economic recovery. Better than expected July IIP data, coupled with encouraging Chinese economic reports over the weekend lifted the mood on Dalal Street. Banks led from the front on optimism that lending will pick up in a fast-growing Indian economy and that they are well capitalised.



The rally was led mainly by the index heavyweights like SBI, Reliance Industries, HDFC, Hindalco and ICICI Bank.

"Technically, the NSE Nifty has breached the channel resistance prevailing at 5520 levels last week. This is likely to act as a catalyst for continuation of the current positive momentum," says Amar Ambani, Vice President, Research – India Private Clients, IIFL.

The BSE Sensex closed at 19,208, up 408 point or 2.17% from the previous close. It had earlier been as high as 19,243 after opening at day's low of 18,845.

The NSE Nifty closed 119 points up or 2% at 5,759 after touching a high of 5,770. It opened at day's low of 5,639.

The BSE Small-Cap index and the BSE Mid-Cap index were up by 0.2% and 0.7% respectively.

In terms of Sectors, Banking stocks led the rise today. Select Oil & Gas, Metal, Realty, PSU, Power, Capital Goods, Pharma and IT stocks were up 1-2% respectively. FMCG stocks were also up marginally.

SBI, HDFC, Hindalco, Reliance Infra, ICICI Bank, DLF, RIL, Jaiprakash Associate, NTPC, HDFC Bank, Infosys, ONGC, L&T, Unitech, Axis Bank, Ambuja Cement and GAIL were the top gainers in the Sensex and Nifty.

Bharti Airtel, Hero Honda, RCOM, Wipro, IDEA, Suzlon, ABB and Jindal Steel were among the top losers in the Sensex and Nifty.

Outside the two main indices, the key losers were Shree Global, Ruchi Soya, Finolex industries, Karuturi Global, Gujarat State Petronet, Assam Company and Bilcare.

VIP, Shree Ashtavina, Berger Paints, BASF India, SBI, UTV Software, Kotak Mahindra Bank, Adani Enterprises and Jet Air india were among the notable gainers in the broader market.

State Bank of India (SBI) surged to a new all-time high and its market capitalisation crossed the Rs2 lakh crores. SBI closed at Rs3,147.25 up Rs164.75 or 5.52% over the previous close.

Kale Consultants surged on NSE after Accelya Holding World SL has signed an agreement with the Promoters, Narendra Kale and Vipul Jain to acquire their entire shareholding at a price of Rs. 172 per share. The stock closed at Rs161, up Rs17.35.

Shree Ashtavinayak climbed 9% on the NSE today after its recently released "Dabangg" received very good box office response last week. The stock closed at Rs25, up Rs2.05 from the previous close.

Aqua Logistics closed at Rs594.85, up Rs5.60 or 0.95%, after the company announced the acquisition of Star Distributor Logistics Pvt, Ltd.

IFGL Refractories closed at Rs59.65, up Rs8.15 or 15.83% over the previous close, after the company announced that its wholly owned subsidiary, IFGL Inc. in the US has acquired 100% Interest of El Ceramics LLC and CUSC International Ltd. both based in Cincinnati (Ohio - USA), as going concerns, for total purchase consideration of US$ 13, free of long term debt.

Vishal Retail closed at Rs54.25, up Rs3.40 or 6.69%, after its board of directors approved the sale of its retail trading business to Shriram Group.

HCL Infosystems rose by 5% after the company said it has bagged order worth Rs1bn for re-structured accelerated power development and reform program from Himachal Pradesh State Electricity Board. The stock closed at Rs131, up Rs6.40.

Omaxe gained 3% after the company said it has bagged a contract for construction of Residential Accommodation at Nagrota. The stock closed at Rs137, up Rs3.45.

Brahmaputra Infraproject hit a new 52 week high today. Shares rose as much as 20%, after company bagged order of Rs885mn from Meghalaya Infratech Pvt. Ltd for the construction of Building and other Civil work. The stock closed at Rs138.70, up Rs23.10.

Gateway Distriparks rose as much as 6.5% after its subsidiary company has constructed two new rail lines / siding for running additional container trains at Garhi Harsaru Rail Terminal. The stock last closed at Rs116.30, up Rs4.20.

Crisil hit a 52 week high. The stock rose as much as 7%, after company's board approves share buyback at a maximum price of Rs6500 per share. The stock closed at Rs6130.60 up Rs292.40.