Post Market Review - Sep 13 2010

It was a blowout rally on the dalal street as benchmark indices surged more than 2% in today’s trade, registering highest percentage gain after 26th May 2010. Bank stocks gained across Asia after global regulator announced new capital rules that weren’t as harsh as expected. A stronger than expected 13.9% rise in August industrial production reported by China over the weekend and our own 13.8% July IIP growth reported on Friday also boosted the sentiment. Sensex gained 409 points to close at 19208 while Nifty finished at 5760, up 120 points. European markets were trading higher by more than a percent while US stock indices futures were up about 1.5%.



All the BSE sectoral indices finished in green with Bankex and Oil & Gas index gaining the most, up 3.6% and 2.6% respectively. SBI and HDFC surged 5.8% and 5.6% respectively, becoming the top gainers among the Nifty stocks while Idea Cellular and R Com were the top losers, down 2.5% and 2% respectively. BSE advance-decline ratio stood at 1.04:1.