| Gains in index heavyweights such ONGC, HLL, Cipla, Gujarat Ambuja and ICICI Bank pushed the Sensex to a new high, forcing trader who were short in the F&O segment to square off their position, brokers said. |
| The breadth of the market is getting narrower which is a sign of concern, dealers added. |
| Ved Prakash Chaturvedi, managing director, Tata Mutual Fund, said, "Investors need to be cautious at current levels, with the Sensex closing at its all-time high. There could be a correction because global factors such as rising crude prices will come into play now." |
| The breadth of the market was negative with 1,134 stocks advancing as against 1,358 stocks declining. The volumes too were moderate and accounted for Rs 2,701.22 crore on BSE and Rs 5,489.69 crore on the National Stock Exchange (NSE). |
| Among the 30 share BSE basket stocks, 24 ended positive while 6 ended lower. |
| The big gainers in the Sensex basket were-Cipla, up 7.08 per cent to Rs 304.75, Gujarat Ambuja was up 5.99 per cent to Rs 62.85, ICICI Bank was up 3.3 per cent to Rs 418.45, HLL was up 3 per cent to Rs 152.60, Maruti Udyog was up 2.58 per cent to Rs 453.75, Tata Steel was up 2.54 per cent to Rs 357.25 and ONGC was up 2.5 per cent to Rs 944.95. |
| Reliance scrip was up 2.46 per cent to Rs 645.90, while IPCL ended nearly one per cent higher at Rs 169.10. Among the Sensex losers, Reliance Energy ended marginally lower at Rs 655.30, down 0.45 per cent, while Reliance Capital ended 1.61 per cent lower at Rs 289.45. |
| BHEL lost 0.56 per cent to Rs 865.50, Bajaj Auto was down 0.62 per cent to Rs 1,248.20, ACC was down 0.74 per cent to Rs 378.15 and HDFC was down 0.82 per cent to Rs 843.35. |
| Market sources said, "Liquidity provided by foreign institutional investors is driving up the markets." Foreign institutional investors (FIIs) were net buyers of Indian shares worth Rs 461 crore on Monday, their highest single day net inflow since March 28. The domestic mutual funds were net sellers to the tune of Rs 228 crore. |
| A head of equity with a foreign MF said, "From the medium to long term perspective, the markets look positive. Valuations are still not at its peak and fundamentally there are sectors, stocks which will outperform the markets. |
| However, there may be an intermediate correction, which will be good for the markets. The Mid-cap segment is going through a consolidation phase and there will be alternate bout of buying and selling. But there is no need to press the panic button at this point of time. |
| The BSE Mid-cap index recovered a bit after a sharp correction in the last three trading sessions. Both the BSE Mid-cap and small-cap indices were up 0.6 per cent in today's trading. The biggest gainer among the indices was the Bankex, up 1.57 per cent to 3954.87. |
| Among the bank stocks, Centurion Bank, up 4.54 per cent to Rs 15.89, South Indian Bank was up 3.86 per cent to Rs 57.85, ICICI Bank was up 3.3 per cent to Rs 418.45, Union Bank was up 2.32 per cent to Rs 106 and Allahabad Bank was up 1.95 per cent at Rs 86.15. |
| Oil and gas sector stocks continue to surge with ONGC gaining 2.50 per cent to Rs 944.95 and Bongaigaon Refineries was up 0.1 per cent to Rs 95.45. |
| The top gainers in the BSE FMCG index were-Godrej India, up 6.46 per cent to Rs 218.45, Nirma, up 3.43 per cent to Rs 405.55 and Rayban Sun Opticals, up 1.84 per cent to Rs 74.65. |
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