Record rally for seventh day in a row

After the Sensex breaking past 1,000-point milestone within record 6 days, the market rose for the seventh session in a row today with a gain of over 267 points to a record high of 17,188. The market opened 139 points above its previous close and zoomed to touch the early high of 17,158. The Sensex remained steady on the back of firm metal and information technology stocks. Strong support also came from Reliance Energy, Tata Steel and few IT stocks. After exhibiting some range-bound moves the Sensex rallied sharply towards the close and wrapped the session at 17,151, up 229 points. The broad based Nifty also hit the record high of 5,016 and the index ended the session by adding 60 points at 5,001.

 

However, the market breadth was negative. Of the 2,832 stocks traded on the BSE, 1,477 stocks declined, 1,298 stocks advanced and 57 stocks ended unchanged. Among the sectoral indices, the BSE Metal index flared up by 3.19% followed by the BSE IT index (up 3.149%), the BSE Teck index (up 1.72%) and the BSE Bankex index (up 1.23%). However, the BSE FMCG index ended in the negative territory.

 

Most of the index heavyweights closed with substantial gains. Reliance Energy showed solid strength today and shot up by 8.87% at Rs1,117. Among the other major gainers Tata Steel surged 5.82% at Rs795, Infosys vaulted by 4.79% at Rs1,912, HDFC Bank spurted 4.26% at Rs1,433, ONGC jumped by 3.74% at Rs972, Cipla scaled up by 3.16% at Rs176, ACC advanced by 2.82% at Rs1,189, BHEL added 2.60% at Rs2,041 and Satyam Computer rose 2.56% at Rs442. Among the laggards, HUL slumped by 2.86% at Rs219, Ambuja Cement dropped 1.69% at Rs145 and Reliance Communication slipped 1.21% at Rs583.

 

Over 6.29 crore Himachal Futuristic Communication shares changed hands on the BSE followed by Tata Teleservices (2.95 crore shares), IKF Technologies (2.85 crore shares), Reliance Natural Resources (2.42 crore shares) and Ispat Industries (1.82 crore shares).

 

Valuewise, Sintex Industries registered a turnover of Rs614 crore on the BSE followed by Reliance Natural Resources (Rs215 crore), Indiabulls Real Estate (Rs201 crore), Reliance Energy (Rs200 crore) and Tata Steel (Rs192 crore).