Nifty ends above 5400; Oil & gas surges 3%

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The market witnessed smart rally on F&O expiry day and the benchmark indices ended with over 1% gains at close. The NSE Nifty closed above its psycological 5400 mark. Strong buying was seen in oil & gas, auto, realty, metal and capital goods stocks. However, broader indices were ended flat.

The BSE oil & gas index has outperformed the other sectoral indices; it was up over 3%.

It was disappointing May series for the market, with the Nifty and Sensex ending the series down 5.5% each.

And looks like the next quarter will be no different. Market veteren Nirmal Jain of IIFL feels the market will continue to remain under pressure in the first quarter of FY11-12 due to earnings downgrade. Going forward, he sees market consolidating in a tight range.

The Sensex closed up 197.40 points or 1.11% at 18044.64, and the Nifty was up 59.65 points or 1.12% at 5408.60.

The market breadth was positive; about 1534 shares have advanced, 1291 shares declined, and 818 shares are unchanged.

Top gainers on the Sensex were ONGC at Rs 273.70 up 4.21%, DLF at Rs 217.65 up 3.59%, Hero Honda at Rs 1,862.15 up 3.37%, Reliance at Rs 933.30 up 2.92% and Cipla at Rs 320.25 up 2.83%.

However, top losers on the Sensex were ITC at Rs 187 down 1.06%, Wipro at Rs 433.50 down 0.42%, Infosys at Rs 2,783.80 down 0.4% and HDFC at Rs 642.55 down 0.32%.

Most active shares on BSE were Power Finance, SBI, Jubilant Food, Sanghvi Forging and Tata Steel.

Most active shares on NSE were SBI, Reliance, Power Finance, ICICI Bank and L&T.

Top percentage gainers on the BSE - Kamat Hotels, Zicom Security, Guj Auto Gears and UTI Sunder were up 19-20%.

Top percentage losers on the BSE - Lancor Holdings, Muthoot Cap, Gandhinagar Hot, Aarvee Denim and WH Brady were down 8-16%.

Top percentage gainers on the NSE - Kamat Hotels, Zicom Security, Dolphin Offshore, Precot Meridian and GSS America Inf were up 9-20%

Top percentage losers on the NSE - Karur KC, NCL Industries, Celestial Labs, WS Industries and Nagreeka Export were down 6-8%.

Turnover: NSE Cash & BSE Cash segment clocked Rs 14092.65 crore and Rs 2665.51 crore turnovers respectively. NSE F&O segment recorded Rs 212284.41 crore. The total turnover for the day stood at Rs 229042.57 crore.

Crude: Brent crude rose above USD 115 a barrel on Thursday due to a softer dollar and as an unexpected drop in US distillate stocks overshadowed gains in gasoline and crude inventories.

Asian Market: The Nikkei share average climbed 1.5% on Thursday from a two-month closing low hit the previous day, boosted by short-covering in battered shares such as Komatsu as well as the launch of two investment trusts this week. The Nikkei closed up 139.17 points at 9,562.05, after marking its lowest finish since March 18 the day before.

 

With inputs from Reuters