The markets gained strength from the better-than-expected Index of Industrial production data for Apr 2010, positive global cues and buying in heavyweights like Reliance Industries, BHEL, ICICI Bank, HDFC, TCS, HDFC Bank and SBI.
BSE Sensex shut shop at 17,064.95, up 142.87 points; while NSE Nifty closed at 5119.35, up 40.75 points.
4: 40 PM
Benchmarks hold on to psychological levels
With the European markets opening on a flat note, the upward trend of the Indian markets slowed down massively. At 2 pm, BSE Sensex was trading at 17,048.23, up 126.15 points while NSE Nifty was at 5115.60, up 37.00.
Sell-off in Bharti, ONGC, Sun Pharma, Sterlite Industries, Infosys, Unitech, IDFC, Reliance Infrastructure, Power Grid, Axis Bank, BPCL, Reliance Communications, Reliance Capital, Maruti and ACC. The global cues as well as the selling pressure forced Nifty erase majority of its early gains.
However, buying interest was seen in banking, FMCG, capital goods, select technology, auto and metal companies' shares. Markets also gained support from the index heavyweight Reliance Industries, which continued its rally and was up nearly 2.5 per cent.
Sensex surges 200 pts on IIP; RIL rallies 2pc
After opening the day on a strong note on positive global cues, the Sensex surged yet another 200 points celebrating the better-than-expected Index of Industrial Production (IIP) data. Growth across sectors took the Apr 2010 IIP to 17.6 per cent versus 13.5 per cent recorded in Mar 2010.
At 12: 40 pm, BSE Sensex was at 17,107.34, up 185.26 points, while Nifty gained 50 points to trade at 5128.60.
Markets were gaining support from Financial, technology, capital goods, FMCG, auto, metal, cement and select oil & gas companies' shares.
Among the gainers index heavyweight Reliance Industries surged 2.7 per cent, HDFC, TCS, ICICI Bank, Wipro, SBI and HDFC Bank rose 1 to 2 per cent.
The only losers were ONGC, Bharti, Reliance Communications, Sun Pharma, Unitech, Power Grid, IDFC, Axis Bank, Idea and BPCL.
12: 44 PM
Mkts begin day on +ve note on strong global cues
Riding on the rally in the global markets, the Indian indices opened the day on a strong note. While Nifty jumped above the 5100 level, the Sensex began the day at the 17000 mark.
At 9:02 am, NSE Nifty was trading at 5125, up 47 points; BSE Sensex was at 17077, up 155 points. The CNX Midcap too went up by 62 points to 7943.
The global markets are responding to better-than-expected US jobless claims, Australia's unemployment data and good numbers from China on trading front and Spanish bond auction.
The early gainers among the frontliners were Sterlite Industries, SAIL, Reliance Industries, HDFC, ICICI Bank, HDFC, M&M, HCL Tech, Wipro, DLF, Unitech, Reliance Power, Reliance Capital, Hindalco and Suzlon Energy.
RIL rose 1.5 per cent post upgrading the stock by brokerage firm on M&A news.
The newly listed Standard Chartered Bank IDR was trading close to its issue price of Rs 104.
Among the midcaps and smallcaps, the gainers were Tata Metaliks, Videocon Industries, DCB, Indiabulls Financial, Karnataka Bank, Jet Airways, HCC while KPIT Cummins lost.