Sensex rises for 2nd straight day...Nifty ends atop 5700

The relief rally continues on Dalal Street as the Indian market ended with smart gains for the second day running. The upswing was led by IT, Metals , Pharma, FMCG, Banking and Telecom stocks. even the broader indices , which had been in doldrums lately, participated in today's rally. However, the BSE Oil & Gas index closed in the red.



Market sentiment got a boost after index heavyweight TCS beat street estimates. In addition, Gail also delivered better than expected quarterly earnings. Stable Asian markets and strong start to the European markets also lifted the mood on Dalal Street.

"The NSE Nifty gained for the second consecutive trading session. The Nifty on Monday had made a Doji pattern on the daily charts which is considered as a reversal pattern, indicating that the rally may continue for the coming days as well. Results will continue to have a bearing on the sentiment in the near term apart from next week's RBI policy review," says Amar Ambani, Head of Research (India Private Clients) - IIFL.

The BSE Sensex gained 210 points to close at 19,092 and the NSE Nifty rose 69 points to end at 5,724.

Among the BSE sectoral indices, the BSE IT index was the top gainer, the index gained 2.6%, BSE Metal index was up 2.3% and BSE Teck index was up 2%.

On the other hand, BSE Oil & Gas index lost 0.2%.

The European indices were trading with smart gains, the DAX in Germany was up 1%, and the CAC 40 index in France was up 1% and FTSE index was up 1%.

Outside the frontline indices, the big gainers in the broader market were Opto Circuit, Bajaj Fin, IndusInd Bank and Godrej Cons. On the other hand, losers included Exide Ind, Zee Ent, Glenmark and IVRCL Infra.