Mumbai, Jul 17: The markets unwounded all the downtrend seen in the last week due to the budget disappointment and clawed back with greater force of bulls. The optimism on the street this week was on the ground of disinvestment process of government, which the markets had expected from the first Union Budget 2009-10 of UPA (United Progressive Alliance) government.
Positive global cues also brought the confidence among the traders as well as institutions, who supported this rally. The S&P 500 index surged 7 pc this week. Asian markets also saw strong rally.
Buying across the sectors pushed the Nifty close to 4400 and the Sensex towards the 15,000 mark. Both indices gained around 9 pc on week-on-week basis. Today, the 30-share Sensex touched an intraday high of 14,800.70, before closing the day at 14,744.92, up 494.67 points or 3.47 pc.
The 50-share NSE Nifty gained 143.55 points or 3.39 pc, to settle at 4374.95, after seeing a day's high of 4390.40. The Nifty July futures turned ended with 23 points premium (provisional data).
On the global front, Asian markets ended positive. Hang Seng gained 2.4 pc. Straits Times and Taiwan Weighted rose over 1 pc. Nikkei and Kospi went up 0.55 pc each. Shanghai closed with 0.2 pc gains.
At the time of closing of Indian equities, European markets rose 0.8 pc each. However, US futures were flat in trade. The market breadth was positive; about 1894 shares advanced while 888 shares declined on the BSE. Nearly 379 shares remained unchanged.
Mkts trading higher; Tata Motors, ICICI gain
At 01:04 pm, the benchmark indices extended the rally, as rate sensitives, technology, telecom and metal were witnessing huge buying interest. The broader indices were also in the limelight; up 2 pc each, as about 982 shares advanced while 219 shares declined on the NSE.
The Nifty tested the 4350 level; it was up 119 points, to 4,350.2. The Sensex rose 403 points, to 14,653. On the sectoral front, Auto and IT indices were up 4 pc each. TECk, Bank, Realty, Metal, Capital Goods and Power indices gained 2-3.9 pc.
Top gainers were Tata Motors was at Rs 315, up 6.35 pc; M&M was at Rs 764, up 6.04 pc; ICICI Bank was at Rs 730.50, up 5.10 pc; Bharti Airtel was at Rs 825.50, up 5.09 pc; TCS was at Rs 440.50, up 4.77 pc; Siemens was at Rs 450.30, up 6.32 pc; HCL Tech was at Rs 205.05, up 5.56 pc and Axis Bank was at Rs 841.50, up 5.37 pc.
Top losers - Sun Pharma was at Rs 1,212, down 0.39 pc; HUL was at Rs 265.95, down 0.32 pc; Sterlite Industries was at Rs 588.30, down 0.31 pc and Ambuja Cements was at Rs 97.50, down 0.31 pc.
In the midcap space, Exide Industries, Deccan Chronicle, Bombay Rayon, Petronet LNG and Fortis Health were up 7-9.5 pc. In the smallcap space, Himadri Chemical, Ahluwalia, Eveready Industries, Madhucon Projects and Premier gained 11-19 pc. However, Money Matters, NIIT Tech, Advani Hotels, Modern India and JK Paper lost 4-10 pc.
Mkts continue +ve; Sensex up by 281 pts
At 11:51 am, the markets were trading sharply higher on the back of uptrend in auto, technology, telecom, realty, banking, metal and infrastructure stocks. The Nifty was trading consistently above the 4300 mark as institutional buying was seen.
The Sensex rose 281 points, to 14,531 and the Nifty was up 86 points, to 4,317. The Nifty July future was trading with 3 points premium. The broader indices went up 2 pc each.
All the sectoral indices were in the green. BSE Auto, IT, TECk, Realty, Bank, Metal, Capital Goods and Power indices were up 2-3.8 pc. However, GAIL, Sterlite, HUL, Sun Pharma and Ambuja Cements were in red.
In the telecom pack, Bharti Airtel was up 4.81 pc. Idea Cellular, MTNL, Tata Communication and Tata Teleservices went up 1.5-2 pc. Reliance Communication gained 0.82 pc.
Media stocks like Deccan Chronicle shot up 9 pc. TV18, IBN18 Broadcast, UTV Software, Dish TV India, NDTV, Zee Entertainment, Zee News, Sun TV Network and Balaji Telefilm were up 2-4 pc. In the technology pack, Infosys, HCL Tech, TCS, Wipro and Tech Mahindra moved up 2-3.7pc.
Mkts open positive; infra, metals, banks up
The markets opened higher following positive SGX Nifty Index. Metal, banking, infrastructure, realty and auto stocks were witnessing buying interest. The broader indices were also following the same trend.
At 9:56 am, the Nifty rose 40 points, to 4,270 and the Sensex gained 135 points at 14,386. The CNX Midcap went up 65 points, to 5,418 and the BSE Smallcap Index rose 50 points, to 5,596. About 533 shares advanced while 63 shares declined.
Among the frontliners, Hindalco, Nalco, Reliance Infrastructure, DLF, Unitech, SAIL, Tata Motors, ABB, Ranbaxy Labs, ICICI Bank, Reliance Capital, Suzlon Energy, M&M, TCS (ahead of Q1 numbers), SBI and Cairn India were the gainers.
In Midcap space NMDC locked at 10 pc upper circuit. The government may be divested between 8.38 pc-20 pc of the company, which may fetch between Rs 10,351 crore-Rs 24,704 crore.