Indian markets gained nearly 1% on Friday tracking gains in the global markets. The market pared some of the gains after hitting intra-day high of 18,870 as investors booked profit on the last day of the week. Despite some profit-booking, market breadth was positive though volumes were lower than last trading session. At the close, the benchmark 30-share index, BSE Sensex added 183.24 pointsor 0.99% at 18,762.74 with 24 components posting rise. Meanwhile, the broad based NSE Nifty climbed by 53.80 pointsor 0.95% at 5,703.30 with 37 components registering rise.World stocks rallied on reports of the awaited Spain"s economic reform plan wherein it has planned to control excess expenses and cut the deficit by at least 18 billion euros next year, which has eased the worries about Eurozone"s finances for the time-being.
FIIs have been net buyers of nearly Rs 180 billion as per provisional data in the month of September 12. This has been the highest in last 7 months. Mutual Funds, like earlier months, remained net sellers and opted for profit-booking on rallies.
Media shares rose after the cable TV digitization has been made mandatory in four metros viz. Delhi, Mumbai, Kolkata and Chennai, with the deadline fixed till October 31, 2012. The stocks also gained buying interest after the government approved higher foreign investment in the broadcasting sector last week.
Commenting on the technical outlook for next week, Rakesh Goyal, senior vice president, Bonanza Portfolio said, "5,740 shall hold the key deciding point for further trend. Above 5,740, market can move upto 5,850-5,950 levels in coming sessions. Short positions must be avoided in such an uptrend and Investors may also book partial profits at current levels. On the downside, 5,640-5,580 shall be support levels."Sensex Movers
ITC contributed rise of 34.33 points in the Sensex. It was followed by Housing Development Finance Corporation (22.35 points), Tata Motors (18.24 points), Tata Consultancy Services (17.56 points) and Reliance Industries (13.96 points).
However, Infosys contributed fall of 8.61 points in the Sensex. It was followed by State Bank Of India (2.69 points), HDFC Bank (1.99 points), Bharat Heavy Electricals (1.32 points) and Reliance Infrastructure (1.31 points).
Major gainers in the 30-share index were Hindalco Industries (3.39%), Tata Motors (2.96%), Cipla (2.50%), Sun Pharmaceutical Industries (2.44%), Tata Power Company (2.30%), and NTPC (2.10%).
On the other hand, Infosys (0.58%), Bharat Heavy Electricals (0.56%), State Bank Of India (0.39%), Hero Motocorp (0.27%), GAIL (India) (0.22%), and HDFC Bank (0.14%) were the biggest losers in the Sensex pack.
Mid & Small-cap Space
The BSE Midcap and Smallcap index rose 1.14% and 0.85% respectively.
Sectors in Limelight
The Auto index was at 10,413.19, up by 193.18 points or by 1.89%. The major gainers were Exide Industries (3.68%), Cummins India (3.52%), Bharat Forge (1.85%), Bajaj Auto (0.89%) and Ashok Leyland (0.84%).
The Consumer Durables index was at 6,939.84, up by 111.53 points or by 1.63%. The major gainers were Whirlpool Of India (1.85%), Rajesh Exports (1.05%), Bajaj Electricals (1%), Gitanjali Gems (0.35%) and C.Mahendra Exports (0.33%).
The FMCG index was at 5,507.36, up by 77.37 points or by 1.42%. The major gainers were Dabur India (3.31%), Jubilant FoodWorks (2.28%), I T C (2.03%), Hindustan Unilever (1.57%) and Colgate-Palmolive (India) (0.53%).
On the other hand, the Realty index was at 1,847.00, down by 6.93 points or by 0.37%. The major losers were D B Realty (2.26%), Indiabulls Real Estate (1.87%), Housing Development and Infrastructure (1.51%), D L F (0.87%) and Oberoi Realty (0.34%).
Market Breadth
Market breadth was positive with 1,687 advances against 1,269 declines.
Value and Volume Toppers
United Spirits topped the value chart on the BSE with a turnover of Rs. 1,662.13 million. It was followed by State Bank Of India (Rs. 1,038.61 million), I C I C I Bank (Rs. 586.70 million) and Housing Development and Infrastructure (Rs. 536.84 million).
The volume chart was led by Cals Refineries with trades of over 5.92 million shares. It was followed by Housing Development and Infrastructure (5.50 million), Lanco Infratech (5.44 million) and Shree Renuka Sugars (4.92 million).
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