Nifty settles above 5,900; RInfra, HDFC surge

Indian markets continued to gain for the second day on Monday. The Sensex ended the volatile session on a buoyant note. Midcap and Smallcap index outperformed. Realty, metal and power were leading the sectoral space.



The market opened in the positive and soon fell into the negative region amid volatility. Later it staged a smart recovery in the second half as European market opened positive and finally closed on a strong note after touching a high of 19,710.57.

On global front, European stock-index futures rose after China refrained from raising interest rates even as inflation surged at the fastest pace in more than two years.

Asian stocks advanced, copper and rubber jumped to records, and the dollar strengthened for a sixth day after China refrained from raising interest rates and as optimism increased that the US recovery is gathering steam.

At the close, the benchmark 30-share index, BSE Sensex gained 182.89 points or 0.94% at 19,691.78 with 25 components posting rise. Meanwhile, the broad based NSE Nifty went up by 50.30 points or 0.86% at 5,907.65 with 40 components posting rise.

``Markets did witness some selling pressure after the media reports stated that South Korea begun another week-long series of live-fire military exercises along most of its coastline, despite this the Indian markets demonstrated resilience. Technically, the NSE Nifty took support at the 100 DMA,`` said Amar Ambani, Head of Research - IIFL.

Sensex Movers

Reliance Industries contributed rise of 41.33 points in the Sensex. It was followed by Housing Development Finance Corporation (40.17 points), Larsen & Toubro (16.86 points), Bharat Heavy Electricals (13.5 points) and Tata Motors (11.95 points).

However, I T C contributed fall of 19.47 points in the Sensex. It was followed by Mahindra & Mahindra (5.53 points), ACC (2.93 points), Hero Honda Motors (1.52 points) and Wipro (1.25 points).

Biggest gainers in the 30-share index were Reliance Infrastructure (3.88%), Housing Development Finance Corporation (3.60%), Hindalco Industries (3.14%), D L F (2.81%), Bharat Heavy Electricals (2.73%), and Cipla (2.37%).

On the other hand, I T C (1.68%), Mahindra & Mahindra (1.25%), Hero Honda Motors (0.67%), Wipro (0.36%), and Tata Consultancy Services (0.04%) were the major losers in the Sensex.

Mid & Small-cap Space

The BSE Mid and small caps outperformed their larger counterparts gaining 1.77% and 2.05% respectively.

The major gainers in the BSE Midcap were Core Projects and Technologies (6%), Alstom Projects India (5.52%), A I A Engineering (3.32%), Aban Offshore (1.23%) and Ackruti City (0.17%).

The major gainers in the BSE Smallcap were Abhishek Industries (4.78%), A B G Shipyard (2.3%), Aarti Industries (1.12%), A K Capital Services (0.78%) and INEOS ABS (India) (0.21%).

Sectors in Limelight

The Realty index was at 2,818.44, up by 76.39 points or by 2.79%. The major gainers were Indiabulls Real Estate (6%), Anant Raj Industries (5.68%), Housing Development and Infrastructure (3.9%), D L F (2.81%) and Ackruti City (0.17%).

The Metal index was at 16,327.38, up by 336.10 points or by 2.10%. The major gainers were JSW Steel (8.22%), Hindalco Industries (3.14%), Hindustan Zinc (1.45%), Bhushan Steel (0.85%) and Jindal Steel & Power (0.26%).

The Power index was at 2,935.40, up by 60.23 points or by 2.09%. The major gainers were Reliance Infrastructure (3.88%), A B B (2.92%), Bharat Heavy Electricals (2.73%), Crompton Greaves (0.58%) and Adani Power (0.16%).

On the other hand, the FMCG index was at 3,555.93, down by 4.56 points or by 0.13%. The major losers were I T C (1.68%) and United Breweries (0.75%).

Market Breadth

Market breadth was positive with 2,081 advances against 891 declines.

Value and Volume Toppers

State Bank Of India topped the value chart on the BSE with a turnover of Rs. 2,903.83 million. It was followed by Tata Steel (Rs. 962.47 million), Reliance Industries (Rs. 736.25 million) and I C I C I Bank (Rs. 724.93 million).

The volume chart was led by K S Oils with trades of over 10.85 million shares. It was followed by Karuturi Global (7.92 million), Jupiter Bioscience (6.53 million) and Birla Power Solutions (6.43 million).