Q2 GDP nos lift Sensex over 300 pts; metals, realty gain

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At 11:11 hours IST, the Nifty rallied further post better-than-expected Q2 GDP (gross domestic product) numbers. The benchmark indices jumped nearly 1.9% each as GDP for the second quarter came in at 7.9% as against 6.1% in previous quarter and 7.7% in same quarter of last year. Earlier, CNBC-TV18 was expecting at 6.3%.

April-September GDP growth was at 7% as against 7.8% YoY (on year-on-year basis). Mining sector growth increased at 9.5% versus 3.7% and manufacturing sector growth was at 9.2% versus 5.1% while construction growth slipped to 6.5% versus 9.6% and Farm sector growth was at 0.9% versus 2.7% (YoY).

Buying was seen across all the sectors; the BSE Metal, Realty, Auto, Capital Goods and Bank indices gained 1.5-3%. Other sectoral indices went up over 1%. However, only Power Grid Corporation was down nearly 2%, as MSCI removed the stock from MSCI India Index.

The Sensex was up 303 points at 16,935 and the Nifty gained 92 points at 5,033. About 1085 shares advanced while 135 shares declined on the NSE.

Cairn India, ONGC, Reliance Industries and GAIL were up 1-2% in the oil & gas space. BPCL and HPCL were marginally up.

Banking stocks like Kotak Mahindra, ICICI Bank and Union Bank gained 2-3.7%. PNB was up 1.31% and HDFC Bank up 0.66%. SBI and Bank of Baroda increased 0.35% each.

In the metal space, NMDC, Hindustan Zinc, JSW Steel, Hindalco, Sterlite Industries, Tata Steel and Jindal Saw were up 3-5%. Gujarat NRE Coke, Sesa Goa, NALCO, SAIL and Jindal Steel moved up 1-2.5%.

In the capital goods segment, Suzlon Energy shot up 3.58% as MSCI added the stock in its MSCI India Index. Siemens, L&T, ABB, BHEL and Punj Lloyd were up 1-2%.

HDIL surged 4.82% as MSCI included the stock in the MSCI India Index. Indiabulls Real, DLF and Unitech went up 2.2-3.8% in the realty space.

In the midcap space, GMDC, Thomas Cook, Wockhardt, Shriram City and Spice Communications gained 5-9.4% while Glenmark lost 2.8% as MSCI removed the stock from its India Index. Nagarjuna Construction, Omaxe, Emami and ING Vysya Bank went down 0.9-1.4%.

In the smallcap space, Resurgere Mines, Cambridge Solutions, Atlanta, Ganesh Housing and Goodricke Group were up 7-12% while Zodiac Clothing, Ushdev International, Advani Hotels, Lloyds Metals and Orissa Sponge lost 2-4.6%.

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