Markets end positive; Nifty above 3,200

Mumbai, Apr 2: Backed by strong global cues Indian stock markets staged a spectacular rally. Due to some positive announcement from the G-20 meeting, markets all over the world witnessed positive surge.

The 30-share Sensex surged 530 points, to touch an intraday high of 10,432.31 during the day, before closing the day 4.51 per cent or 446.84 points higher at 10,348.83. The 50-share NSE Nifty shut shop at 3,211.05, up 4.92 per cent or 150.70 points over previous close, after hitting a high of 3228.75.

Key players who were behind the upward rally were FIIs, who covered their short positions aggressively.
04:30 PM

Nifty holds 3200; RIL, L&T lead

The benchmark indices at 2.28 pm were witnessing huge buying interest on the back of strong global cues.

Rate sensitive, infrastructure, metal, oil & gas and technology stocks surged higher followed by midcap and small caps. The Sensex was hovering around the 10400 level while the Nifty held above the 3200 mark.

Reliance Industries, L&T, Infosys, SBI, HDFC, ICICI Bank, ONGC, Bharti, HDFC Bank, BHEL, TCS and NTPC were the leading counters in this rally.

The Sensex was trading at 10,378, up 476 points and the Nifty was trading at 3,210, up 150 points, at 2:28 hrs IST. Broader indices - BSE Midcap and Small cap indices gained 3.4-4 per cent.

Among the frontliners, DLF, Tata Motors, Jaiprakash Associates, Reliance Communication, Tata Steel, SAIL and Suzlon Energy surged 9-14%. However, ITC, HUL and Hero Honda were in the red.

Benchmarks rally in line with markets
Benchmarks rallied in line with Asian markets on Thursday, Apr 2 as sentiments in global markets turned bullish after the US factory and home sales data raised hopes the economic downturn is moderating.

Rally was seen in sectors like realty, banks and metals while healthcare and FMCG were modestly higher.

At 10:40 am, National Stock Exchange"s Nifty was at 3178.65, up 118.30 points or 3.87 per cent. The index touched a high of 3189.65 and low of 3061.05.

Bombay Stock Exchange"s Sensex was at 10293.70, up 391.71 points or 3.96 per cent. The broader index touched a high of 10327.40 and low of 10107.25.

Amongst the sectoral indices, BSE Realty Index was surged 5.90 per cent, BSE Bankex gained 5.16 per
cent and BSE Metal Index moved up 4.69 per cent.

Tata Motors (9.42pc), DLF (8.81pc), Suzlon Energy (7.41pc), Reliance Capital (7.35pc) and Reliance Infrastructure (7.31pc) were the top Nifty gainers and no losers.
11.51 AM

Mkts open higher; banks, metal lead

The markets opened higher and continued their uptrend for the third consecutive day on the back of good global cues.

The Nifty crossed the 3150 level while the Sensex moved back above the 10250 level. Financials, oil & gas, metals, technology and infrastructure stocks were witnessing huge buying interest.

The Sensex was trading at 10,251, up 365 points and the Nifty was trading at 3,168, up 108 points, at 9:56 am. The CNX Midcap went up 2%, to 3,501. The advance:decline ratio stood at 12:1 in the early trade.

Suzlon Energy, Reliance Infrastructure ICICI Bank, Reliance Capital, PNB, L&T, SBI, Tata Steel, HDFC, Axis Bank, Unitech, DLF, HDFC Bank, BHEL, SAIL, TCS, Wipro and Infosys were leading players in the early trade. Not a single stock was trading in the red on the NSE Nifty 50 list.

In the midcap space, UCO Bank, IFCI, Yes Bank, Voltas, Bajaj Hindusthan, Opto Circuits, RNRL, Firstsource, ABG Shipyard and Mercator Lines were the major gainers.

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