Sensex closes above 19,500; DLF, Bharti surge

Indian equities continued to rise for the second day on Tuesday. After a bleak start, the Sensex made a smart recovery in the wake of better than expected GDP numbers which lead the indices to close the volatile session in green, after touching a high of 19,610.46. Realty gained the most followed by consumer durable, power, PSU and FMCG.



Moreover, Indian economy registered a remarkable 8.9% growth in the quarter ended July to September as against 8.6% in the same period, previous fiscal year. The consensus estimate was for a GDP growth of 8.2-8.3% in the second quarter of FY11 with the broad range of 8-8.5%. Meanwhile, the GDP figure for the April to June 2010-11, period was revised to 8.9% versus a preliminary estimate of 8.8%.

On global front, European stocks increased as investors awaited economic reports that may provide more evidence of the health of the global economy. US stock-index futures were little changed.

Asian stocks dropped, with the regional benchmark falling to its lowest level in eight weeks, amid concerns Europe`s debt crisis may spread and China may raise interest rates to curb inflation. Exporters rose after a report showed US consumers increased holiday spending.

At the close, the benchmark 30-share index, BSE Sensex gained 116.15 points or 0.60% at 19,521.25 with 19 components registering rise. Meanwhile, the broad based NSE Nifty climbed by 32.70 points or 0.56% at 5,862.70 with 32 components registering rise.

Sensex Movers

State Bank Of India contributed rise of 41.94 points in the Sensex. It was followed by Bharti Airtel (37.04 points), Tata Motors (21.7 points), I T C (17.32 points) and D L F (11.07 points).

However, Reliance Industries contributed fall of 25.57 points in the Sensex. It was followed by I C I C I Bank (15.04 points), Larsen & Toubro (12.19 points), Infosys Technologies (9.64 points) and Housing Development Finance Corporation (8.54 points).

Biggest gainers in the 30-share index were D L F (7.00%), Bharti Airtel (6.45%), Tata Motors (4.31%), State Bank Of India (3.97%), Reliance Communications (3.41%), and Jaiprakash Associates (2.75%).

On the other hand, Tata Steel (1.48%), Reliance Industries (1.14%), I C I C I Bank (0.90%), Larsen & Toubro (0.89%), Tata Power Company (0.85%), and ACC (0.80%) were the biggest losers in the Sensex.

Mid & Small-cap Space

The BSE Mid and small caps outperformed their larger counterparts gaining 1.39% and 1.90% respectively.

The major gainers in the BSE Midcap were Core Projects and Technologies (16.82%), Alstom Projects India (5.1%), Aban Offshore (1.93%), Allcargo Global Logistics (1.03%) and A I A Engineering (0.18%).

The major gainers in the BSE Smallcap were INEOS ABS (India) (7.32%), A B G Infralogistics (3.81%), Abhishek Industries (3.67%), A B G Shipyard (0.38%) and A K Capital Services (0.13%).

Sectors in Limelight

The Realty index was at 2,925.40, up by 156.88 points or by 5.67%. The major gainers were Indiabulls Real Estate (8.43%), D L F (7%), Anant Raj Industries (6.75%), Housing Development and Infrastructure (5.46%) and D B Realty (5%).

The Consumer Durables index was at 6,434.44, up by 130.99 points or by 2.08%. The major gainers were Rajesh Exports (8.9%), Blue Star (5.94%), Videocon Industries (1.95%), Titan Industries (0.64%) and Bajaj Electricals (0.5%).

The Power index was at 2,891.48, up by 52.33 points or by 1.84%. The major gainers were Adani Power (3.3%), Reliance Infrastructure (2.6%), A B B (2.56%), Bharat Heavy Electricals (2.35%) and Crompton Greaves (1.48%).

On the other hand, the Oil & Gas index was at 10,062.08, down by 56.3 points or by 0.56%. The major losers were Reliance Industries (1.14%), Bharat Petroleum Corporation (0.62%) and G A I L (India) (0.44%).

Market Breadth

Market breadth was positive with 2,035 advances against 939 declines.

Value and Volume Toppers

L I C Housing Finance topped the value chart on the BSE with a turnover of Rs. 2,473.68 million. It was followed by State Bank Of India (Rs. 2,289.84 million), Gravita India (Rs. 1,866.93 million) and Core Projects and Technologies (Rs. 1,461.38 million).

The volume chart was led by Ispat Industries with trades of over 26.79 million shares. It was followed by Cals Refineries (22.63 million), Birla Power Solutions (20.14 million) and Hindustan Construction Company (10.33 million).