Indian equities rallied on Friday after theECB meeting. Oil & gas, metal and banking stocks gained ground.
European Central Bank announced an unlimited bond-buying program to reduce the borrowing costs for the region"s most indebted nations, boosting demand for riskier assets.
At 11.13 a.m., the Sensex was trading up 325.15 points or 1.87% at 17,671.42 with 30 components gaining. Meanwhile, the Nifty was trading higher by 94.20 points or 1.80% at 5,332.60 with 50 components gaining.
The 30-share benchmark index, BSE Sensex opened with a gain of 229.52 points or 1.32% at 17,575.79, while the broad based NSE Nifty started with a rise of 71.05 points or 1.36%, at 5,309.45.
Sensex Movers
ICICI Bank contributed rise of 47.41 points in the Sensex. It was followed by Reliance Industries (42.02 points), Housing Development Finance Corporation (27.11 points), Infosys (22.48 points) and Larsen & Toubro (20.3 points).
However, ACC contributed fall of 0.34 points in the Sensex. It was followed by Reliance Communications (1.52 points), Hero Motocorp (1.52 points), Wipro (1.79 points) and NTPC (1.94 points).
All shares in the Sensexare trading in green. Major gainerswere Tata Steel (4.18%), ICICI Bank (3.78%), Tata Motors (3.71%), Hindalco Industries (2.65%), Reliance Industries (2.55%), and Bajaj Auto (2.39%).
Mid & Small-cap Space
The BSE Mid and small caps underperformed their larger counterparts gaining 1.26% and 1.10% respectively.The major gainers in the BSE Midcap were CORE Education and Technologies (1.3%), Alstom India (1.11%), A B G Shipyard (1.05%), Allcargo Logistics (0.83%) and A I A Engineering (0.54%).The major gainers in the BSE Smallcap were Trident (4.68%), Styrolution ABS (India) (2.28%), A2Z Maintenance & Engineering Services (1.79%), Action Construction Equipment (1.41%) and Aarti Industries (0.74%).
Sectors in Limelight
The Metal index was at 9,703.44, up by 213.22 points or by 2.25%. The major gainers were Hindalco Industries (2.65%), Jindal Steel & Power (2.15%), Hindustan Zinc (1.63%), Bhushan Steel (0.83%) and Coal India (0.7%).
The Oil & Gas index was at 8,372.89, up by 180.25 points or by 2.20%. The major gainers were Gujarat State Petronet (2.08%), G A I L (India) (1.73%), Hindustan Petroleum Corporation (1.49%), Bharat Petroleum Corporation (1.26%) and Cairn India (1.12%).
The Bankex index was at 11,597.16, up by 245.28 points or by 2.16%. The major gainers were Bank Of India(2.33%), Canara Bank (1.88%), Bank Of Baroda (1.85%), Federal Bank (1.25%) and H D F C Bank (0.92%).
The Auto index was at 9,488.44, up by 181.30 points or by 1.95%. The major gainers were Bajaj Auto (2.39%), Ashok Leyland (1.45%), Exide Industries (1.23%), Bharat Forge (1.21%) and Hero Motocorp (0.71%).
Market Breadth
Market breadth was positive with 1,679 advances against 702 declines.
Value and Volume Toppers
United Spirits topped the value chart on the BSE with a turnover of Rs. 457.27 million. It was followed by State Bank Of India (Rs. 252.93 million), Tata Steel (Rs. 193.61 million) and ICICI Bank (Rs. 149.89 million).
The volume chart was led by Mercator with trades of over 2.14 million shares. It was followed by Kingfisher Airlines (1.04 million), Cals Refineries (0.93 million) and IFCI (0.92 million).
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