Positive movements continued in the markets, as the Sensex gained 130 points at 19,980, while the Nifty moved up 37 points at 5,998. Market sentiments look upbeat, in general. "An important level on the Nifty Futures is 6040-6060. Once the market goes above this, we could see 6180 soon," said Rakesh Gandhi of LKP Shares on NDTV Profit. "Uptrend in the market remains above 5880 and we could see new highs being created in three months," he added.
Top gainers on the Sensex were Wipro, Reliance Communications and ONGC, all up 3%. Scrips trailing at the negative end were Hero Honda Motor, down 5% on talks of paying Honda a royalty worth Rs 2,300-2,400 crore, followed by NTPC and Tata Power, both down 1%.
The broader indices continued to perform well, with the BSE Midcap up 1% at 8,082, while the Smallcap index was up 2% at 10,210. Top midcap gainers were Arss Infrastructure Projects up 13%, followed by Dishman Pharma and Dewan Housing, both up 10%. Dewan Housing stocks rallied on news the company is to acquire Deutsche Bank's Indian operations for Rs 1,080 crore. At the helm of the Smallcap index were Mastek up 16%, followed by Goenka Diamond & Jewels and Rollatainers, both up 10%.
Amongst the sectoral indices, the Consumer Durables index led the pack at 6,643 up 2%, followed by the Realty index, also up 2% and the IT index up 1%. Realty stocks saw a substantial bounceback after getting considerably hammered in the light of last week's multi-crore housing loan scam.
BSE's Capital Goods and Auto indices were trading marginally down 10 points at 15,479 and 10,282 respectively.
An optimistic outlook prevailed in the markets, with a majority of the sectoral and broader indices treading in the green.
