The market continued its aggressive buying in the two-hour special trading session. This was a spectacular week for the market as investors’ hunger for stocks kept rising, taking both the BSE Sensex and NSE Nifty up 2.8 percent each.
The market continued its aggressive buying in the two-hour special trading session. The Nifty closed above the 6100 for the first time since January 4, 2011. The Nifty ended the day at 6107.25, up 12.50 points while the Sensex surged 60.28 points to close at 20142.90. This was a spectacular week for the market as investors’ hunger for stocks kept rising, taking the both the Sensex and Nifty up 2.8 percent each.
Autos, FMCG, consumer durables and banking stocks led the rally. Dr Reddy’s Lab (up 3.4 percent), Sun Pharma, Sterlite Industries, Coal India and Cipla were the biggest gainers in the Sensex.
Essar Oil gained 3.4 percent after the company reported net profit of Rs 200 crore in March quarter, as against net loss of Rs 608 crore year-on-year.
Other big movers of the day were NDTV (up 8.8 percent), Zee News (up 6.4 percent).
Midcap gainers of the week included MMTC (up 23.7 percent), DB Realty (16.3 percent), Muthoot Finance(up 15.4 percent), Apollo Hospitals(up 14 percent) , MphasiS (up 13.5 percent), M&M Fin(up 10 percent), MRF(up 9.3 percent), Corporation Bank (up 9 percent).
Meanwhile, NTPC, TCS, Infosys, BHEL and HDFC were the major losers in the Sensex. Sobha Developers fell 2.54 percent as its consolidated net profit declined 28 percent to Rs 69.60 crore on 12.1 percent growth in net sales to Rs 585.40 crore in the fourth quarter of FY13, Y-o-Y.
BSE Sensex was trading firm in a special live trading session held by the bourses on Saturday. Oil marketing companies like HPCL, BPCL and IOC were in spotlight after price of diesel was hiked by 90 paise per litre.
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Like Bank Nifty; mkt has strong support at 7700: PhillipCap