Sensex closes over 10,000

Despite subdued overseas markets and a negative opening, the BSE Sensex on Wednesday bounced back on all-round buying to close above the 10,000 level, with a gain of over 217.62 points. The broad-based Nifty closed at 2,923, up 62 points.

The global cues were indifferent, with Asian markets ending flat and the European markets opening in the red.

However, the Sensex made a hefty gain to close at 10,040.14, riding a rally that gained momentum during the final hours of trade.

The major gainers on the indices were Dr Reddy's Labs, Bharti Airtel, ITC, Infosys, Wipro, Reliance, HCL Tech, and Jet Airways. Value buying was witnessed across sectors like metal, pharma, capital goods, sugar, and technology.

Dr Reddy's zoomed 7 per cent to Rs 1,348, and Bharti Airtel surged 4.7 per cent to Rs 370. ITC, Reliance, and Reliance Energy gained 4.4 per cent each to end at Rs 169, Rs 964 and Rs 464, respectively. Wipro and Larsen & Toubro rallied nearly 4 per cent each to Rs 438 and Rs 2,028, respectively.

Gujarat Ambuja, Hindalco, Infosys, Satyam, and Tata Steel advanced over 2.5 per cent each to Rs 93, Rs 163, Rs 2,917, Rs 665, and Rs 478, respectively. TCS, RCoVL and NTPC were up over 2 per cent each to Rs 1,642, Rs 242 and Rs 114, respectively.

Among the losers, Grasim and BHEL slipped over 1 per cent each to Rs 1,780 and Rs 1,839, respectively.

The BSE small cap index closed at 5,323.89, up 210.23 points, and the midcap index ended at 4,323.64, up 111.95 points. The market breadth was positive, with 2,015 shares advancing, 349 shares declining, and 46 shares remaining unchanged.

Among sectoral indices, the BSE oil and gas index rose 2.98 per cent to 4,889.37, the IT index was up by 2.77 per cent to 3,503.16, the FMCG index was up 2.68 per cent to 1,840.89, and the metal index was up 2.5 per cent to 7,794.05.

FMCG stocks ended with gains on back of intensified buying in ITC, that rose by 4 per cent to Rs 169.

Among other stocks in this segment, Archies climbed 6 per cent to Rs116, Colgate was up by 1.1 per cent to Rs 353, McDowell surged by 5 per cent to Rs 465, and HLL advanced by 1 per cent to Rs 219.

Despite volatility in international metal prices, the metal stocks on the bourses rallied, led by Hindalco.

The scrip gained by 2.3 per cent to Rs 162, Sterlite Industries was up by 2 per cent to Rs 373, SAIL surged by 4 per cent to Rs 70, Tata Steel rose by 2.6 per cent to Rs 479, and National Aluminium gained by 1.6 per cent to Rs 222.

Reliance topped the value chart with a turnover of Rs 250.71 crore, followed by Reliance Capital (Rs 104.26 crore), SBI (Rs 88.64 crore), Mahindra Gesco (Rs 84.52 crore) and Tata Steel (Rs 69.63 crore).

Hindalco led the volume chart with trades of around 33.51 lakh shares, followed by Tata Tele (33.40 lakh), Essar Oil (31.80 lakh), Aftek Info (30.75 lakh), and Gitanjali Gems (28.55 lakh).