Nifty hits 4700; RIL, Infy, ICICI Bk, DLF, Sterlite up 5-7%

At 14:24 hours IST, the Nifty was trading strong and touched the 4700 mark on the back of institutional buying in heavyweights like Reliance Industries, Infosys, ICICI Bank, DLF, TCS and Sterlite Industries, which rose 5.2%, 5%, 5.42%, 7%, 3.3% and 5.4%, respectively.

All the sectoral indices were in the green. The BSE Realty Index shot up 7%. IT and Metal indices gained 4% each. Oil & Gas, TECk, Auto, Bank and FMCG indices were up 2-3.3%. Healthcare and Power indices gained over 1%.

The benchmark indices were outperforming the broader indices; the Sensex was trading at 15,880, up 475 points and the Nifty was at 4,700, up 137 points. The BSE Midcap Index rose 2.5% and Smallcap Index up 1.5%.

The market breadth was positive; about 1,727 shares advanced while 1,228 shares declined on the BSE. Nearly 808 shares were unchanged.

On the global front, European markets were up 0.7-1.1%. US index futures rose 0.3-0.5%

In the largecaps, Jaiprakash Associates, Hindalco and Unitech gained 7-8%. However, Suzlon Energy tanked 5.58%. ABB, Sun Pharma, Reliance Communication and Grasim fell 0.6-1.6%.

In the midcap space, Indiabulls Real and Educomp Solutions were up 11-13%. LIC Housing Finance, Anant Raj Industries and Dish TV India went up 7.6-8%. However, Andrew Yule, KGN Industries, Ipca Labs, REI Six Ten and Blue Dart slipped 2-4%.

In the smallcap space, Entertainment Network India, Tata Coffee, Glodyne Techno, Sanwaria Agro and Sasken Communication gained 9.5-10%. Webel SL Energy, Shree Ram Urban, Prime Securities, Garden Silk Mills and Disa India lost 7-10%.

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