Mumbai: It was a roller-coster ride for the markets as they ended with hefty gain after opening with a sharp cut. In the end, the markets not only recovered the losses but also made good gains.
The Sensex hit the 20,000 level again, but ended marginally below that mark. Nifty, which had slipped below 5700 levels, clawed back in the final hour and ended above 5900 level. Short covering can also be attributed to the gains.
The cues from Asia and US were extremely weak, but the markets have shown resilience once again outperforming all Asian peers and ending near the day's high. Initially, markets have taken cues from the fall in US on account of credit concerns. Hang Seng was down 1000 points or 3 per cent.
Among the leaders, SBI was up over 5 per cent, Tata Power up over 4 per cent, Reliance Energy is up over 3.5 per cent and HDFC Bank up over 2 per cent.
All the key BSE indices are in green, BSE bank, FMCG and power stocks were among the top losers. BSE midcap and smallcap index have outperformed . This has given markets a positive breadth. Bharti Airtel, GAIL, Wipro, ICICI Bank, Hindalco, SAIL were trading weak on the bourses.
On the macroeconomic front, inflation came in at 3.02 per cent versus 3.07 per cent, which is inline with the market estimates. On a weekly basis markets ended with good gains, Sensex and Nifty put on nearly 4 per cent with Bankex up 9.5 per cent and metal index up 6 per cent.
Sensex was up 251.88 points or 1.28 per cent at 19976.23, and the Nifty up 65.95 points or 1.12 per cent at 5932.40. About 1546 shares have advanced, 1434 shares declined, and 81 shares are unchanged.
The BSE Midcap Index ended at 8,021.80 up 0.7 per cent. The BSE Smallcap Index ended at 9,742.43 up 1 per cent. The BSE Bankex was up 3.5 per cent at 11,241.53. SBI, BOB, HDFC Bank, Union Bank, Axis Bank, Kotak Mahindra, Andhra Bank, Bank of India moved upwards.
The BSE Capital Goods Index was up 1 per cent at 20,386.41. Punj Lloyd, Areva T&D, Kirloskar Oil, Bharat Bijlee, Triveni Engg closed higher.
The BSE Auto Index closed at 5,423.10 up 0.6 per cent. Bharat Forge, MICO, Maruti Suzuki, Tata Motors, Exide Industrie, Apollo Tyres closed higher. The BSE Metal Index closed at 17,693.66 up 0.6 per cent. Jindal Steel, JindalStainless, Tata Steel, SAIL, Hind Zinc closed higher.
The BSE FMCG Index closed at 2,062.04 up 1.2 per cent. Marico, Colgate, ITC, Bata India closed higher. BSE Oil and Gas Index closed at 11,736.43 up 1.7 per cent. Reliance Natura, Essar Oil, Reliance Petro, Petronet LNG ended higher.
The BSE IT Index was at 4,634.64 up 0.4 per cent. Infosys, Financial Tech, TCS closed higher. The NSE cash turnover was at Rs 20029.43 crore and the NSE F&O turnover was at Rs 76145.01 crore. The BSE cash turnover was Rs 8143.03 crore. Total market wide turnover was at Rs 104317.47 crore.
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