Sensex northbound; rate sensitives gain

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At 10:17 hours IST - the benchmark Sensex added some more gains in today's trade and continued positive momentum for fourth consecutive day. Financial, capital goods, auto, realty, power and select metal companies' shares along with heavyweights Reliance Industries, HUL and Bharti were helping the markets to stay in positive terrain.

Even the Nifty has consistently been trading above 5600 level. Claiming recent inflows into the markets were the result of reallocation of existing funds, Samir Arora of Helios Capital told Udayan Mukherjee of CNBC TV18 that these flows will continue if markets grind higher. "A 10% blowout rally is possible, but 15% is rally is unlikely," he said.

However, the sell-off was seen in ONGC, Wipro, Sterlite Industries, TCS, ITC, Hindalco, ACC, Reliance Communications, Sun Pharma, Tata Power and Cipla.

The 30-share BSE Sensex was trading at 18746, up 80 points and the Nifty was at 5629, up 21 points. Even the broader indices gained 0.8% each; about 907 shares advanced while 336 shares declined on NSE. However, the Nifty September futures were trading at 12 points discount.

In financial space, HDFC Bank, SBI, ICICI Bank and Kotak Mahindra Bank gained 1.3-2.3%. IDFC and PNB were up 0.7%. DLF and Unitech from auto segment rose 0.9-1.6%. M&M, Tata Motors and Hero Honda from auto pack went up 0.7-1.5%; Maruti was up 0.4%.

Today's new listing - Gujarat Pipavav Port was trading at Rs 53, up 15.22% over its issue price of Rs 46 per share.

In midcap space, BASF, Britannia Industries, KEC International, Infotech Enterprise and BEML were up 5-9.5% while MVL fell 15%. Gammon Infra, Binani Cement, Wockhardt and Balrampur Chini lost 1.4-2%.

In smallcap space, Heritage Foods, Karuturi Global, Vindhya Telelink, Shasun Chemical and Mahindra Forg rallied 9-13%. However, Kothari Product, Maharashtra Polybutenes, Money Matters, Andhra Cement and Indo Rama Synthetic fell 3-4.8%.