Indian equities extended further gains after the government implemented its decision to allow FDI in multi-brand retail sector. Moreover, the market rallied on the newsafter Samajwadi Party leader Mulayam Singh Yadav said his party will continue to extend external support to the UPA government. Both Sensex and Nifty were trading above 12-month high.
At 1.53 p.m., the Sensex was trading up 388.78 points or 2.12% at 18,738.03 with 26 components gaining. Meanwhile, the Nifty was trading higher by 131.75 points or 2.37% at 5,686.00 with 46 components gaining.
The 30-share benchmark index, BSE Sensex opened with a gain of 61.95 points or 0.34% at 18,411.20, while the broad based NSE Nifty started with a rise of 22.75 points or 0.41%, at 5,577.00.
Sensex Movers
ICICI Bank contributed rise of 64.08 points in the Sensex. It was followed by Larsen & Toubro (41.89 points), ITC (38.08 points), HDFC Bank (37.43 points) and Housing Development Finance Corporation (37.03 points).
However, Infosys contributed fall of 9.6 points in the Sensex. It was followed by Tata Consultancy Services (9.56 points), Sun Pharmaceutical Industries (0.98 points), Tata Motors (0.9 points) and ACC (1.96 points).
Biggest gainers in the 30-share index were Bharat Heavy Electricals (7.01%), Tata Power Company (5.22%), State Bank Of India (4.74%), ICICI Bank (4.62%), Sterlite Industries (India) (4.59%), and Larsen & Toubro (4.27%).
On the other hand, Tata Consultancy Services (0.96%), Infosys (0.63%), Sun Pharmaceutical Industries (0.29%), and Cipla (0.08%) were the biggest losers in the Sensex.
Mid & Small-cap Space
The BSE Mid and small caps underperformed their larger counterparts gaining 1.49% and 1.41% respectively.The major gainers in the BSE Midcap were ABG Shipyard (4.64%), AIA Engineering (2.36%), Allcargo Logistics (1.92%), Aban Offshore (1.57%) and Alstom India (1.25%).The major gainers in the BSE Smallcap were Trident (6.36%), A2Z Maintenance & Engineering Services (5.5%), Reliance MediaWorks (4.66%), Action Construction Equipment (1.33%) and Adhunik Metaliks (0.72%).
Sectors in Limelight
The Power index was at 1,990.61, up by 83.48 points or by 4.38%. The major gainers were Reliance Infrastructure (9.69%), Bharat Heavy Electricals (7.01%), Adani Power (3.92%), ABB (3.6%) and Crompton Greaves (3.52%).
The Capital Goods index was at 10,711.84, up by 403.30 points or by 3.91%. The major gainers were A B B (3.6%), BEML (2.59%), AIA Engineering (2.36%), Bharat Electronics (2.23%) and Alstom India (1.25%).
The Bankex index was at 13,019.23, up by 488.91 points or by 3.90%. The major gainers were Canara Bank(4.84%), Bank Of India (3.93%), Federal Bank (3.78%), Bank Of Baroda (3.39%) and HDFC Bank (2.71%).
On the other hand, the IT index was at 5,996.26, down by 27.57 points or by 0.46%. The major losers were Hexaware Technologies (2.67%), Tata Consultancy Services (0.96%), Infosys (0.63%), CORE Education and Technologies (0.55%) and Mphasis (0.5%).
Market Breadth
Market breadth was positive with 1,770 advances against 1,031 declines.
Value and Volume Toppers
State Bank Of India topped the value chart on the BSE with a turnover of Rs. 1,577.92 million. It was followed by United Spirits (Rs. 703.60 million), Reliance Capital (Rs. 571.55 million) and ICICI Bank (Rs. 527.20 million).
The volume chart was led by Cals Refineries with trades of over 5.94 million shares. It was followed by Kingfisher Airlines (5.24 million), Lanco Infratech (5.12 million) and Spicejet (3.66 million).
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