Sensex sky rockets…Nifty ends above 6200

After trading in a narrow trading range for the past seven days, the bulls were back with a bang on Dalal-Street on Wednesday. The BSE Sensex soared over 450 points and the NSE Nifty rose by over 140 points, among the biggest single-day gains in recent memory.



Strong cues from the Asian and the European markets lifted the sentiment. World equities cheered the FOMC minutes that showed the Fed is ready to launch its second round of quantitative easing to lift the sagging US economy.

"The Indian markets seemed to have forgotten about the poor IIP data, with the benchmark indices posting their biggest single day gain in more than 5 months. The rally was led by the IT and the Telecom stocks. Even the Mid-Caps and the Small-Cap stocks participated," says Amar Ambani, Head of Research (India Private Clients) - IIFL.

The BSE Sensex surged 485 points to close at 20,688. The NSE Nifty rose 143 points to close at 6,234.

All the BSE sectoral indices ended in the green BSE IT index was the top gainer, adding by 3.1%, followed by the BSE Teck index (up 2.7%) and BSE Capital Goods index (up 2.6%).

The broader indices ended with smart gains, the BSE Mid-Cap index ended higher by 1% and BSE Small-Cap index ended higher by 1%.

The European indices were trading higher as well, the DAX in Germany was up 1.4%, the CAC 40 index in France also up 1.4% and FTSE index in UK up 1.2%.

Outside the frontline indices, the big gainers in the broader market were Vijaya Bank, Syndicate Bank, Petronet LNG and Neyvelli Lignite. On the other hand, losers included Exide Ind, Mundra Port, Shriram Trans.