Sensex ends 100 points up; Oil & gas, pharma gain

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The markets ended a volatile session on a strong note. The BSE oil & gas index outperformed the other sectoral indices; it ended up nearly 2%. Oil & gas stocks surged post cabinet approved raising regulated gas price. Buying was also seen in pharma, and banking stocks. However, realty and auto stocks ended lower. Reliance, ICICI Bank, L&T, HDFC and ITC were the positive contributors to the Sensex.

The Sensex was up 111.19 points or 0.68% at 16519.68. It has touched an intraday high of 16,617.80 and an intraday low of 16,419.10.

The Nifty was up 27.95 points or 0.57% at 4947.60. It has touched an intraday high of 4,980.25 and an intraday low of 4,924.30.

The markets breadth was positive. about 1203 shares have advanced, 1731 shares declined, and 360 shares are unchanged.

Top gainers on the Sensex were ONGC at Rs 1,118.20 up 8.72%, Sterlite Ind at Rs 652.45 up 2.35%, SBI at Rs 2,263.40 up 2.19%, Reliance Infra at Rs 984.70 up 1.97% and NTPC at Rs 204.75 up 1.76%.

Top losers on the Sensex were Jaiprakash Asso at Rs 116.65 down 3.28%, DLF at Rs 271.05 down 2.81%, Grasim at Rs 2,513.50 down 2.45%, Maruti Suzuki at Rs 1,210.45 down 1.6% and Tata Power at Rs 1,289.85 down 1.21%.

Oil & gas stocks surged post cabinet approved raising regulated gas price. The regulated gas price will be raised to Rs 6.82/cu m. Official says that government will get Rs 3,500 crore/year more from APM gas price hike. New APM gas price is equivalent to D6 price of $ 4.2/mmBtu. And the new regulated gas price is valid till March 31, 2014.

Ashith Kampani, Managing Director, (Investment Banking) of JM Financial is optimistic of Sensex regaining its erstwhile level of 20,000 on the back of strong macros. "I am pretty hopeful and have been saying this consistently that the Indian markets are here to stay because there is a huge consumption, the productions are going up, the capex are going up, the fiscal deficit is coming down. Everything is happening-infrastructure development is happening though it needs to be much more accelerated. With all these things, which are happening helping government to garner the resources, the acceleration in the infrastructure development field will fuel the growth," he said.

Index	Current Value	Chg(%)
Oil & gas	9724.78	1.79
HC	5341.86	1.14
Bankex	10451.14	0.93
FMCG	2860.48	0.84
Power	2973.06	0.23
CG	13589.53	0.19
Metal	14924.61	0.08
IT	5082.4	0.05
CD	4622.51	-0.17
Auto	7356.13	-0.53
Realty	3049.73	-2.04

In the oil & gas space, ONGC, IOC, HPCL, BPCL and GAIL gained 2-8%.

In the pharma pack, Orchid Chemical, Piramal Health, Dr Reddys Labs, Cipla and Lupin were up 2-9%.

In the banking sector, IndusInd Bank, Yes Bank, Bank of Baroda., SBI and Federal Bank were up 2-8%.

However, in the realty pack, HDIL, Orbit Corporation, DLF and Peninsula Land 2-5%.

In the auto space, Ashok Leyland, Apollo Tyres, Exide Industries and Maruti Suzuki were 2-4%.

Top gainers on the BSE Midcap - Sun Pharma Adv, IndusInd Bank, Piramal Health, Whirlpool and Sterlite Techno were up 5-9%.

Top gainers on the BSE Smallcap - Ent Network Ind, Henkel India, Orchid Chemical, Bhansali Eng and Zydus Wellness were 7-16%.

Most active shares on BSE - SJVN, Tata Steel, Piramal Health, SBI and Tata Motors.

Most active shares on NSE -ONGC, ICICI Bank, Tata Motors, Tata Steel and Reliance.

Turnover: The total turnover for the day stood at Rs 120088.84 crore. NSE F&O contributed Rs 102734.08 crore to total turnover. NSE Cash recorded turnover of Rs 13331.27 crore while BSE Cash recorded Rs 4023.49 crore turnover.

In the global front, Asian markets closed negative. Nikkei 225, Taiwan Weighted, KOSPI, SET Composite, Jakarta Composite and Shanghai Composite were down 1-2%. European markets were trading weak.