Bulls rock the market: BSE gains 317 pts; Nifty surges 93 pts
The Indian market finally breaks its three days losing streak, and settled the day with handsome gains.
On Thursday, the domestic benchmark Index opened the day marginally up, but suddenly it turned volatile tracking mixed cues from the markets all over the world.
However, after touching intraday low, the benchmark indices bounced back on good buying interest. After that, the market didn't turn back and continued to extend its gains tracking recovery in the Asian markets.
During final trading hours, market reported sharp rise to close in strong increase. The BSE Sensex closed today at 11,134.99, higher by 317.45 points while NSE Nifty ended up by 93.40 points at 3,423.70.
On the other hand, BSE Mid Caps and Small Caps also closed the day with gains of 51.40 and 37.10 points at 3,534.18 and 3,999.78 respectively.
On sectoral front, IT (+5.22%), Metal (+5.20%), Reality (+4.21%), Auto (3.92%), Bank (+3.16%), Teck (+3.12%), Capital Goods (+2.83%), Power (+2.26%) and Oil & Gas (+2.25%) stocks contributed to most of the market rally.
However, Consumer Durable index (-0.06%), FMCG (+0.09%) and Health care Index (+0.83%) remained out of favour, and ended the day with little buying interest.
In today's trading session, Gainers from the BSE Sensex pack were Wipro Ltd (11.11%), Tata Steel (8.98%), Grasim Industries (7.21%), Reliance Infra (6.67%), Sterlite Industries (6.02%), Maruti Suzuki (6.02%), ICICI Bank (5.85%), Tata Motors (5.64%), Infosys Tech (5.11%), DLF Ltd (4.84%) and RCom (4.77%).
While, Losers from the BSE Sensex pack were Sun Pharma (0.42%), HUL (0.31%) and Bharti Airtel (0.25%).
As per the latest available government data, the inflation for the week ended 11th April 2009, rose 0.26% in the 12 months as compared to the previous week's annual rise of 0.18%.