The markets recovered the losses of the day gaining strength in the last hour of the trade on the back of government's announcement of the budget date. The strong rally was lead by infrastructure (capital goods and power), telecom, pharma, banking, realty and select cement stocks, which helped the Sensex to close above the 15,000 mark for the first time since Sep 2008.
The broader indices outperformed, the BSE Midcap Index surged 2.26 per cent or 120.54 points, to 5,446.08 and the Smallcap Index ended at 6,525.19, up 140.27 points or 2.2 per cent.
Due to the gains in the broader indices, the market breadth was positive. About 2164 shares advanced while 717 shares declined and nearly 257 shares remained unchanged.
Mkts choppy, broader indices outperform
At 12:40 PM, the Sensex was up 13 points, to 14,884 while the Nifty fell just 2 points, to 4,528. Despite recovering marginally, the markets were still trading lower. Markets are recovering on the back of the Buying seen in power, telecom, FMCG, realty and major auto counters, and stocks like HDFC, SBI, L&T, ABB and HDFC Bank.
However, markets are marginally lower due to the selling in shares of oil & gas exploration, metal, and individual stocks like ICICI Bank, Infosys, ICICI Bank, BHEL, Tata Power, Power Grid, Wipro and Ambuja Cements.
The broader indices continue to outperform, BSE Midcap and Smallcap indices gained 1.25 per cent each.
The gainers among the midcaps were Nirma, Tata Teleservices, JM Financial, Gillette India and Atlas Copco surging 9 to 12.7 per cent. Going up by 12 to 17 per cent, the gainers among the smallcaps were Infomedia 18, Sunflag Iron, Vesuvius India, Zodiac Clothing and Savita Chemical.
Among the sectors, FMCG and Healthcare indices were up 2 per cent each. Capital Goods Index was up 1.5 per cent. Realty, Power and TECk indices gained 0.5 to 0.9 per cent. However, Metal, Oil & Gas and IT indices fell 1 to 1.5 per cent.
Market breadth was in favour of advances
Mkts under pressure, sell-off in metals, banking
At 12:03 PM the Sensex had dropped down by 158 points, to 14,712 and the Nifty lost 45 points, to 4,485. However, broader indices surged around 0.3 to 0.5 per cent outperforming the benchmarks.
The benchmark indices experienced pressure due to the sell-off in shares of metal, banking, capital goods, oil & gas exploration, select power and technology companies.
Draggers were Reliance Industries, ONGC, Sterlite, SAIL, Cairn, ICICI Bank, Infosys, Reliance Petroleum, Tata Steel, SBI, BHEL, L&T, Wipro, Tata Power and Hindalco falling 1 to 6 per cent. The gainers were NTPC, HUL, Reliance Communication, ITC, Bharti, Suzlon, HDFC, Ranbaxy, TCS and BPCL.
Among the sectors, Metal and Oil & Gas indices were down 2 to 2.5 per cent. IT and Bank indices fell 1 to 1.5 per cent. Auto and Capital Goods indices declined 0.5 to 0.6 per cent. However, FMCG and Healthcare indices gained 1.5 per cent each.
Inflation for the week-ended May 23 came in at 0.48 per cent as against 0.61 per cent from the previous week.
Market breadth was positive. About 1698 shares advanced while 1141 shares declined and nearly 299 shares were unchanged.
Mkts open low; RIL, Tata Steel, DLF, PNB dip
The markets opened in the red on the back of weak global cues. At 9:56 AM, the Sensex was down 102 points, to 14,768 and the Nifty fell 24 points, to 4,506. Metals, banking and realty stocks saw profit booking.
CNX Midcap Index was up 0.39 per cent, to 5,568 while the BSE Smallcap Index rose 0.13 per cent, to 6,393.
The losers were PNB, Sterlite, Cairn, Hindalco, Nalco, Siemens, DLF, Axis Bank, ICICI Bank, Unitech, Reliance Industries, Tata Steel, SBI, HDFC and L&T; while ITC, ONGC, NTPC, BPCL, HUL, M&M and Hero Honda gained in early trade.
In the Midcap arena, TTML, Satyam and ITI gained 5 per cent each and Tech Mahindra and GVK Power were up 0.5 per cent and 3.5 per cent, respectively. Alok Industries, Arvind, WWIL and Dish TV emerged losers.
Asian Markets were trading lower and the Wall Street retraced on Wednesday, Jun 3 due to the weak economic reports.