Sensex jumps 484.54 points at close; IT stock zooms

Indian equities bounced back on Wednesday snapping earlier losses. Markets saw a stupendous rally today on the back of relentless buying seen in index heavyweights. All sectoral indices ended in the green with IT leading the space followed by teck, capital goods, realty, FMCG and banking stocks. Both Sensex and Nifty hit 32 months high. Finally, the index closed with a whopping gain of 484 points at 20,687.88 after touching a high of 20,703.97.



At the close, the benchmark 30-share index, BSE Sensex gained 484.54 points or 2.40% at 20,687.88 with 28 components posting rise. Meanwhile, the broad based NSE Nifty went up by 143 points or 2.35% at 6,233.90 with 46 components posting rise.

On global front, European stocks advanced after the US Federal Reserve published minutes showing that policy makers are prepared to buy more government debt.
Asian stocks rose, sending the regional equity benchmark to its biggest gain in five days, as reports from China, Japan and Australia showed the economic recovery is strengthening.

Sensex Movers

Larsen & Toubro contributed rise of 58.52 points in the Sensex. It was followed by Housing Development Finance Corporation (56.45 points), Infosys Technologies (48.61 points), Reliance Industries (42.6 points) and Tata Consultancy Services (32.9 points).

However, NTPC contributed fall of 5.8 points in the Sensex. It was followed by Grasim Industries (1.73 points), Reliance Communications (0.5 points), Hero Honda Motors (0.53 points) and Sun Pharmaceutical Industries (1.89 points).

Major gainers in the 30-share index were Housing Development Finance Corporation (4.60%), Tata Consultancy Services (4.56%), Wipro (4.48%), Larsen & Toubro (4.04%), Jaiprakash Associates (4.01%), and Hindustan Unilever (3.86%).

On the other hand, NTPC (1.26%) was were the major losers in the Sensex.

Mid & Small-cap Space

The BSE Mid and small caps underperformed their larger counterparts gaining 0.99% and 1.06% respectively.

The major gainers in the BSE Midcap were Core Projects and Technologies (2.5%), Alstom Projects India (1.53%), Allahabad Bank (1.44%), Aban Offshore (1.04%) and Alfa-Laval (India) (0.8%).

The major gainers in the BSE Smallcap were Abhishek Industries (3.43%), INEOS ABS (India) (2.84%), A B G Infralogistics (1.94%), Adhunik Metaliks (0.73%) and Provogue (India) (0.62%).

Sectors in Limelight

The IT index was at 6,249.20, up by 190.65 points or by 3.15%. The major gainers were Oracle Financial Services Software (4.64%), H C L Technologies (3.47%), Infosys Technologies (2.48%), Tech Mahindra (1.84%) and Mphasis (1.72%).

The TECk index was at 3,850.36, up by 101.92 points or by 2.72%. The major gainers were Bharti Airtel (2.51%), Reliance MediaWorks (1.87%), Mphasis (1.72%), Idea Cellular (1.37%) and Dish TV India (0.45%).

The Capital Goods index was at 16,426.36, up by 429.07 points or by 2.68%. The major gainers were Bharat Heavy Electricals (1.94%), A B B (1.15%), Areva T & D India (0.88%), Crompton Greaves (0.19%) and BEML (0.07%).

The Realty index was at 3,935.64, up by 96.33 points or by 2.51%. The major gainers were Indiabulls Real Estate (4%), D L F (3.24%), D B Realty (3.03%), Housing Development and Infrastructure (1.71%) and Anant Raj Industries (0.07%).

Market Breadth

Market breadth was positive with 1,967 advances against 1,098 declines.

Value and Volume Toppers

Uflex topped the value chart on the BSE with a turnover of Rs. 1,168.63 million. It was followed by J B F Industries (Rs. 1,098.23 million), Reliance Industries (Rs. 1,087.13 million) and Orchid Chemicals & Pharmaceuticals (Rs. 901.02 million).

The volume chart was led by I F C I with trades of over 6.59 million shares. It was followed by J B F Industries (5.57 million), Uflex (4.03 million) and Orchid Chemicals & Pharmaceuticals (3.01 million).