The Indian bourses made a tremendous bounceback after Tuesday's fall on the Sensex helped by global markets and strength in metal and realty stocks.
The index opened at 16,070 owing to strong Asian cues. The Hang Seng, the Straits Times, Seoul Composite Index and Taiwan Weighted indices were up 1% each.
Tremendous strength in the realty, IT and metal stocks helped the BSE benchmark index to keep the upward momentum alive throughout the day.
Positive opening of the Euroepan markets helped the Sensex extend its gains further to touch a high of 16,410, up 388 points. Major European indices like the FTSE, CAC 40 and DAX are up over 1.5% each.
The markets which are reeling under the euro debt crisis fear found some breathing space today. The Sensex finally ended at 16,387, up 365 points. The NSE Nifty settled at 4,917, up 110 points.
ICICI Bank which opened at Rs 815 ended at Rs 847, up 5% from its previous close taking cues from the strong global peers.
Grasim Industries ended at Rs 1,845, down 20%, the price been adjusted post demerger of cement business.
The market breadth was positive, out of 2,885 shares traded, 1,860 advanced and 909 declined on the BSE.
All the sectoral indices ended in the green, IT and the realty indices led the bounceback. It was followed by metal, auto and FMCG indices, up over 2% each.
TCS zoomed 5% to Rs 736 and HCL Technologies advanced 4%, respectively on the BSE IT space.
The BSE Midcap and the smallcap indices, however, underperformed the Sensex, up 1.5% each.
Shree Global TradeFin and Gujarat Mineral Development Corporation advanced over 9% each on the midcap index.
Thiru Arooran and Hanung Toys rallied 16% each to Rs 155 and Rs 206, respectively on the smallcap index.
INDEX GAINERS...
Hindalco Industries zoomed 7% to Rs 147. TCS, Tata Motors and Jaiprakash Associates advanced over 5% each to Rs 736, Rs 709 and Rs 122, respectively.
The other prominent gainers were ICICI Bank, Infosys, HDFC, DLF and ITC, up 2-3% each on the Sensex.
...AND THE LOSERS
Reliance Communications slipped 2.5% to Rs 135 and ACC was down 1% at Rs 831.
VALUE & VOLUME TOPPERS
Sesa Goa topped the value chart on the BSE with a turnover of Rs 209.24 crore. It was followed by Tata Steel (Rs 155.54 crore), Piramal Healthcare (Rs 136.08 crore), Tata Motors (Rs 85.31 crore) and SBI (Rs 75.48 crore).
Birla Power led the volume chart on the BSE with trades of 40.52 million shares. It was followed by Sesa Goa (6.56 million), RNRL (5.33 million), Unitech (5.23 million) and Shree Ashtavinayak (4.57 million) shares
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