The Sensex began the day on a positive note backed by strong cues from the overseas markets. The index rallied to a high of 16,738, as higher advance tax number for the third quarter of the current fiscal also cheered the market.
The market exhibited firm trend throughout the day. The Sensex finally ended with a gain of 91 points at 16,692.
The Nifty too reversed its trend, and ended with a gain of 33 points at 4,986, after a gap of three trading days.
BSE metal, PSU, realty and bankex gained in trades today. However, some counters slipped. Cement was one of the losers. IT stocks also dropped after gaining in the last few sessions.
Market heavy-weight, Reliance ended flat at Rs 1,019 - paring some of its early gains.Earlier in the day, the stock jumped to a high of Rs 1,029 after discovering oil in the KG gas basin for the third time.
Telecom stocks, Bharti Airtel and Reliance Communications gained. Bharti Airtel added 4% to Rs 322. Reliance Communications moved up 1.5% to Rs 171.
Metal stocks gained as metal prices rose in the London Metal Exchange. Tata Steel surged 4% to Rs 578. Hindalco jumped 3.6% to Rs 142. Sterlite ended nearly unchanged at Rs 807.
Banking stocks - ICICI Bank and SBI advanced 1-2% each. PSU stock, NTPC gained 3% to Rs 215.
Meanwhile, cement stocks slipped in trades today. ACC shed 2% to Rs 838. Grasim was down 1% at Rs 2,374.
Other losers included ONGC, Mahindra & Mahindra, TCS and Jaiprakash Associates.
BSE market breadth was fairly positive. Out of 2,885 stocks traded, 1,693 advanced while 1,109 declined on the BSE.
VALUE & VOLUME TOPPERS..
Tata Steel topped the value chart on the BSE with a turnover of Rs 148.76 crore, followed by Zandu Pharma (Rs 148.31 crore), Suzlon (Rs 80.67 million), Reliance (Rs 78.95 crore) and Aban Offshore (Rs 73.50 crore).
The volume chart was led by Suzlon with trades of over 9.71 million shares, followed by Kaashyap Technologies (7.98 million), Austral Coke (7.04 million), Unitech (6.85 million) and Ispat Industries (6.42 million).
