The Sensex today opened down 53 points at 11,630, and touched a low of 11,625. The index soon rebounded into the postive zone range bound till noon. Poor IIP numbers triggered a fresh round of selling which saw the index slip briefly into red only to bounce back stronger.
The buying gained momentum in the last session as the index rallied past the 12,000-mark to a high of 12,195 - up 570 points from the day's low.
The Sensex finally ended with a solid gain of 475 points at 12,158. In the process, the index has more-than recouped its losses suffered in the last two days. The index had dropped 434 points in the last two days.
IT and banking stocks led the rally today. The BSE IT index soared over 5% to 2,837, and the Bankex rallied 4.8% to 6.,251.
The market breadth was positive- out of 2,586 stocks traded, 1,410 advanced while 1,101 declined.
INDEX MOVERS
HDFC and Wipro soared 7.5% each to Rs 1,841 and Rs 375, respectively. ICICI Bank surged 7% to Rs 559.
Bharti Airtel rallied 6% to Rs 794. Infosys, Reliance, Hindalco and BHEL gained 5% each to Rs 1,598, Rs 1,958, Rs 70 and Rs 1,688, respectively.
Jaiprakash Associates, Mahindra & Mahindra, Reliance Communications, HDFC Bank, Tata Motors, Reliance Infrastructure, TCS, DLF and Maruti Suzuki added 3-4% each.
OTHER PROMINENT GAINERS...
Kotak Bank zoomed over 9% to Rs 483. Axis Bank and HDIL rallied over 8% each to Rs 668 and Rs 180, respectively.
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Jaiprakash Hydropower, RECL and Allahabad Bank surged 7% each. Fortis Healthcare, Welspun Gujarat Stahl Rohren, Punjab National Bank, Idea Cellular and Financial Technologies advanced 5-6% each.
...AND THE LOSERS
Essar Oil and United Phosphorus shed 4% each at Rs 146 and Rs 115, respectively.
Tata Chemicals, GMDC, IVRCL Infrastructure & Projects and EIH slumped 3% each.
Bajaj Holdings and Investment, Madras Cements, Cadila Healthcare, Dabur India, Container Corporation of India, Aditya Birla Nuvo, Jet Airways and Hero Honda Motors also declined.
MOST ACTIVE COUNTERS
Reliance topped the value chart with a total turnover of Rs 253.59 crore on the BSE today. It was followed by ICICI Bank (Rs 222.20 crore), Reliance Capital (Rs 192.47 crore), HDIL (Rs 191.35 crore) and Suzlon (Rs 166.69 crore).
Cals Refineries led the volume chart with trades of 36.72 million shares, followed by Unitech (30.19 million), Suzlon (21.60 million), HDIL (11.11 million) and Ispat Industries (10.44 million).