Post Market Commentary

The market rallied and extended its recent solid gains during the trading session, which led both the benchmark indices i.e. BSE Sensex and Nifty touched its lifetime high. The market tumbled in the mid session but manages to recover well. The BSE Sensex grew by 518.42 points to close at 17,847.04 while Nifty jumped by 141.82 points to close at 5,210.80. The benchmark indices i.e. BSE Sensex touched its lifetime high of 17,953.07, just lacks few points from the psychological mark of 18,000 during the trading session. This boost was on the back of heavy buying across almost all the sectoral indices scrips mainly from the reality index which outperformed the Sensex to close higher by 593.36 points at 9,775.19. Today''s rally in the market led the BSE to fetch a turnover of more than Rs10,000 Crore. Overall, the market breadth remains weak as 1695 stocks are closed in red while 1111 stocks are closed in green. The BSE Mid cap closed little higher by 13.36 points at 7,542 while BSE Small cap lost grounds as it closed lower by 82.21 points at 9,102.31.
BSE Reality index advanced by 593.36 points to close at 9,775.19 as DLF (16.41%), Akruti Nirma (10.96%), Unitech (3.92%) and Parsvnath (2.51%) closed higher.
The oil and gas index closed the session on a firm note as it grew by 312.68 points to close at 9,995.27. Leading this pack are Reliance Industries (4.55%), ONGC (2.76%), BPCL (2.04%), IOCL (1.88%) .
BSE Metal index surged by 261.75 points to close at 14,161.52. The main gainers are Hindalco Industries (3.83%), Sterlite Industries (3.69%), JSW Steel (3.12%) and SAIL (1.82%).
The IT index closed up by 184.89 points at 4,783 on the back of expectations of goods earnings by the companies in the second quarter. Adding to the gainers pack are Infosys (5.72%), TCS (3.99%), Wipro (3.68%), HCL tech (3.44%)
BSE bankex index jumped by 156.90 points to close at 9,552.68. Leading the rally are Kotak bank (4.54%), ICICI bank (2.83%), Federal bank (2.10%), HDFC bank (1.31%), SBI (0.84%) closed higher.