Sensex scores triple ton...Nifty ends atop 5850

BSE Sensex ended at 19,470 surging 349 points. It had earlier touched a day's high of 19,485 and a day's low of 19,171. It opened at 19,274. While, the NSE Nifty shot up by 111 points to close at 5,851.

It was an impressive trading session for the Indian stock market on Wednesday amid strong gains across global equity markets, especially in Europe. In addition, forecast of normal monsoon and strong export growth added to the cheer. As a result, the news of CBI court rejecting the bail pleas of top telecom honchos didn't make any major dent, barring a brief hiccup in the afternoon session.



Markets ended with smart gains for the second straight trading session after finding strong support around the 200DMA levels. The NSE Nifty also managed to close above the 5850 levels.

Overall market breadth was quite strong today. However, stock specific action prevailed. HCL Tech was the star performer after posting strong quarterly numbers. While, Suzlon, M&M and Coal India were among the other notable gainers. Auto, IT and Metal stocks were in focus as well. Even Mid-Caps and Small-Caps witnessed smart buying.

"It was mostly a Large-Cap led rally but the non-index counters also managed to join the party. The market gave up quite a bit of ground in afternoon after a CBI court dismissed the bail applications of five accused in the 2G scam. But, the sentiment soon rebounded after European stocks accelerated on the back of stellar results from top US technology companies. The market could gain slightly more if the global rally prevails. But one has to be careful at this stage in picking the right stocks, "says Amar Ambani, Head of Research (India Private Clients) - IIFL.

The BSE Sensex ended at 19,470 surging 349 points. It had earlier touched a day's high of 19,485 and a day's low of 19,171. It opened at 19,274. While, the NSE Nifty shot up by 111 points to close at 5,851.

Among the BSE sectoral indices, the BSE Auto index was the top gainer, the index gained 2.8% followed by BSE IT index slipped 2.4%, while, BSE Metal index gained 2.3%. BSE Mid-Cap index and BSE Small-Cap index gained 1.1% and 1.2% respectively.

The European markets were trading in the green, the FTSE index was up 2%, CAC index was up 2.3% and DAX index was up 2.8%.

Outside the index, the major gainers were BF Utilities, JUB Food, Essar Oil and Apollo Tyres. Among the major losers were Concor, DB Realty, IRB Infra and HMT.