Indian equities gained further momentumafter 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.At 2.54 p.m., the Sensex was trading up 426.27 points or 2.32% at 18,775.52 with 26 components gaining. Meanwhile, the Nifty was trading higher by 134.90 points or 2.43% at 5,689.15 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 58.43 points in the Sensex. It was followed by Larsen & Toubro (41.62 points), ITC (38.84 points), Housing Development Finance Corporation (37.76 points) and HDFC Bank (37.39 points).
However, Tata Consultancy Services contributed fall of 12.03 points in the Sensex. It was followed by Infosys (4.47 points), Sun Pharmaceutical Industries (1 points), ACC (1.81 points) and Hindustan Unilever (2.28 points).
Major gainers in the 30-share index were Bharat Heavy Electricals (6.20%), Sterlite Industries (India) (4.90%), Tata Steel (4.67%), Jindal Steel & Power (4.40%), Larsen & Toubro (4.23%), and ICICI Bank (4.21%).
On the other hand, Tata Consultancy Services (1.21%), Dr Reddy"s Laboratories (1.11%), Sun Pharmaceutical Industries (0.30%), and Infosys (0.29%) were the major losers in the Sensex.
Mid & Small-cap Space
The BSE Mid and small caps underperformed their larger counterparts gaining 1.70% and 1.68% respectively.The major gainers in the BSE Midcap were A B G Shipyard (4.64%), Aban Offshore (3.46%), Allcargo Logistics (1.96%), A I A Engineering (1.84%) and Alstom India (1.8%).The major gainers in the BSE Smallcap were Trident (5.9%), A2Z Maintenance & Engineering Services (4.4%), A B G Infralogistics (3.81%), Aarti Industries (1.1%) and Styrolution ABS (India) (0.4%).
Sectors in Limelight
The Power index was at 1,986.41, up by 79.28 points or by 4.16%. The major gainers were Reliance Infrastructure (9.88%), Bharat Heavy Electricals (6.2%), Crompton Greaves (4.28%), Adani Power (4.26%) and A B B (2.31%).
The Capital Goods index was at 10,728.76, up by 420.22 points or by 4.08%. The major gainers were BEML (3.88%), A B B (2.31%), Bharat Electronics (2.22%), A I A Engineering (1.84%) and Alstom India (1.8%).
The Bankex index was at 13,040.57, up by 510.25 points or by 4.07%. The major gainers were Bank Of India(5.85%), Federal Bank (5.58%), Canara Bank (5.38%), Bank Of Baroda (4.63%) and H D F C Bank (2.7%).
On the other hand, the IT index was at 6,004.91, down by 18.92 points or by 0.31%. The major losers were Hexaware Technologies (3.36%), CORE Education and Technologies (1.29%), Tata Consultancy Services (1.21%), Infosys (0.29%) and Mphasis (0.04%).
Market Breadth
Market breadth was positive with 1,812 advances against 1,101 declines.
Value and Volume Toppers
State Bank Of India topped the value chart on the BSE with a turnover of Rs. 1,689.72 million. It was followed by United Spirits (Rs. 850.21 million), Reliance Capital (Rs. 684.31 million) and ICICI Bank (Rs. 682.71 million).
The volume chart was led by Cals Refineries with trades of over 6.50 million shares. It was followed by Lanco Infratech (6.02 million), Kingfisher Airlines (5.94 million) and Spicejet (5.01 million).
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