Sensex sees biggest 1-day gain in 4 months; Bankex up 10%

Markets closed at day’s high after D day verdict as UPA government has won vote of confidence by 19 votes wherein 275 seats were in favour of them and 256 in against of them. It was biggest single intraday points gain for Sensex since March 25, 2008. In last five trading session the Sensex has recovered around 20% from its recent lows of 12576 (July 16, 2008).

All BSE sectoral indices were closed in green. Strong buying interest was seen in bank, realty, capital goods, power, metal and oil and gas sectors, which were up anywhere between 5% and 10%. The BSE midcap and small cap indices were also closed with good gains; they were up 5% and 4% respectively.

For quite some time markets were trading under pressure as political concern, rising crude price, inflation, rupee depreciation. Out of these, now political concern is out of the way after UPA government wins. There are sign of crude cooling off and which will auger well for rupee appreciation. So one can expect further rally in the coming days.

The Sensex was up 838.08 points or 5.94% at 14942.28, and the Nifty was up 236.70 points or 5.58% at 4476.80.

Market breadth was positve, about 2371 shares have advanced, 574 shares declined, and 205 shares are unchanged.

Top gainers on the bourses were Reliance Communications up 12.20%, ICICI Bank up 11.64%, HDFC up 10.92, SBI up 10.45% and Reliance Infra up 10.36%

However, top losers on the bourses were Cairn India at Rs 220.45 down 2.46%  Cipla at Rs 232.50 down 2.21% and HUL at Rs 231.05 down 0.65%.

The BSE Bankex was up 9.99% or 662.52 points at 7291.Yes Bank, Karnataka Bank, Kotak Mahindra, Federal Bank, IDBI Bank and ICICI Bank spurted up.

The BSE capital goods index was up 8.18% or 933.47 points at 12,339.77. Punj Lloyd, Siemens, BHEL, Suzlon Energy, Crompton Greave, L&T and AIA Engineering gained.

The BSE realty index was up 8.08% or 388.78 points at 5,199.27. RNRL, Essar Oil, BPCL, IOC and Petronet LNG.

The BSE power index was 7.74% or 194.43 points at 2,707.11.

The BSE metal index was up 6.85% or 838.07 points at 13,070.52. Sesa Goa, Jindal Steel, Ispat Industries, SAIL and Jindal Saw ended green.

The BSE oil & gas index was up  5.14% or 482.28 points 9,864.59. RNRL, Essar Oil, BPCL, IOC and Petronet LNG ended up.

The BSE auto index closed up with 3.86% or 140.12 points at  3,768.18. Cummins, Escorts, MRF, Hind Motors, Exide Industries and Tata Motors moved up.

The BSE IT index was up 2.35% or 85.59 points 3,733.51. Financial Tech, Aptech, HCL Tech and Wipro closed positive.

The BSE health care index was up 1.26% or 52.11 points at 4,192.94. Wockhardt, Dishman Pharma, Piramal Health, Divis Labs and Matrix Lab surged.

The BSE FMCG index was up 1.13% or 23.90 points at 2,141.84. Marico, United Spirits, Bata India and Godrej Consumer. moved up.

Turnover traded by markets has improved, which stood at Rs 95860.28 crore . This includes Rs 20400.14 crore from NSE Cash segment, Rs 68010.68 crore from NSE F&O and the balance Rs 7449.46 crore from BSE Cash segment.

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