Bulls on the rampage, Sensex up 344 points, NIFTY up 112 points

Markets pulled back smartly after remaining jittery for the past few days. The market came back well in the second half of trading on Tuesday. But, managed to close up only by 50 points. The markets had fallen by around 800 points in the past few days trading. Short-covering and Indian mutual funds buying propelled the Sensex and NIFTY to close higher.

Across the board buying in all sectors including Metals, Banking, Oil, Auto, FMCG and IT contributed to the soaring Sensex. BSE Sensex surged past 12200 and closed at 12217.81, up by 344 points and NIFTY up by 111.8 points to close at 3635.1.

BSE Small Cap Index, Sensex, BSE Mid cap Index all moved up nearly 3% during the day´s trading which shows the bullishness across the board.

Among the sectoral indices the BSE Metal Index flared up by 5%, the BSE Oil & Gas Index rose 4.35%, the BSE Auto Index moved up by 3.40% and the BSE CD Index was up 3.49%. The other indices also ended with sharp gains.

Out of 30 stocks in Sensex, all the stocks ended higher except Cipla, NTPC and Grasim. SBI zoomed 7.24% to Rs.990. ONGC flared up by 5.83% to Rs.1441, Reliance Industries recovered 4.2% to close higher at Rs.1087. Tata Steel closed higher at Rs.612, up by 6,8%. Tata Steel´s results will be declared on Thursday.

ITC (Rs.205, up by 5.35%), Hero Honda (Rs.894, up by 5.31%), Bajaj Auto (Rs.3268, up by Rs.4.65%), Tata Motors (Rs.962, up by 3.47%), BHEL (Rs.2325, up by 2.78%), HLL (Rs.275.35, up by 2%), ICICI Bank (Rs.626.35, up by 2.06%), Infosys (Rs.3211.75, up by 2.17%), L&T (Rs.2702.3, up by 2.85%), Maruti (Rs.911.35, up by 2.34%), Ranbaxy Laboratories (Rs.489.65, up by 2.43%), Reliance Energy (Rs.597.9, up by 2.93%) and Satyam Computers (Rs.768.15, up by 2.98%), TCS (Rs.2015.7, up by 1.86%), WIPRO (Rs.543.75, up by 1.72%) were the other major gainers in Sensex.

Source : Equity Bulls

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