Mumbai, Jan 14: Markets closed near the day"s high on Wednesday, Jan 14 led by heavy buying activity in Reliance Industries and other Reliance Group (Mukesh and Anil Ambani) stocks. There are rumours that warring brothers may head for some amicable settlement bringing end to their business rivalry over gas dispute.
Sustained buying activity was also seen in IT and metal stocks. Bombay Stock Exchange"s Sensex ended at 9,409.18, up 337.82 points or 3.72 per cent. The index touched an intra-ay high of 9,409.18 and low of 9202.57.
National Stock Exchange"s Nifty was at 2852.65, up 107.70 points or 3.92 per cent. The broader index touched a high of 2853.25 and low of 2748.55.BSE Midcap Index was up 2.16 per cent and BSE Smallcap Index gained 1.38 per cent.Biggest Sensex gainers were Reliance Communications (13.1 per cent), Reliance Infrastructure (12.04 per cent), Reliance Industries (10.93 per cent), Infosys Technologies (6.23 per cent) and Tata Steel (5.79 per cent).
Infosys, Reliance drive Sensex higher
Benchmarks outperformed broader markets Wednesday as traders bought heavily in index beavyweights like Infosys Technologies and Reliance Industries. All the sectoral indices were in the green led by IT, metals and oil &gas stocks.
Market was also taking support from positive Asian markets and Europe was also likely to open higher. At 1 pm, Bombay Stock Exchange"s Sensex was at 9311.31, up 239.95 points or 2.65 per cent. It touched a high of 9387.60 and low of 9207.52.
National Stock Exchange"s Nifty was at 2814, up 69.05 points or 2.52 per cent. The broader index hit an intra-day high of 2823.20 and low of 2748.40.
BSE Midcap Index was up 1.35 per cent and BSE Smallcap Index was up 1.03 per cent. BSE IT Index jumped 5.17 per cent, BSE Metals Index gained 3.86 per cent and BSE Oil &gas Index moved 3.76 per cent higher.
Sensex near day's high; metals, IT up
Buying continues in the benchmark indices and upsurge is seen in shares of oil exploration, telecom, capital goods, power, metal, banking and technology stocks. Midcap and small cap stocks also gained.BSE IT and Metal indices surged 4 per cent. Oil & Gas and Bankex rose 3-3.5 per cent. Capital Goods, Power, Healthcare and Auto indices gained 1.4-1.9 per cent.
Market breadth is in favour of advances; about 1517 shares have advanced while 1248 shares declined. Nearly 144 shares are unchanged. Among the frontliners, Reliance Industries, Reliance Infrastructure, TCS, ICICI Bank, Jaiprakash Associates, HCL Tech, Siemens, SAIL and Sterlite Industries rose 5-8 per cent.
The Sensex went up 242 points to 9,314 and the Nifty rose 63 points to 2,808, at 11:09 hours IST. BSE Midcap gained 1.7 per cent and Small Cap Index up 1.2 per cent.
OneIndia News (With inputs from Agency)