The market snapped four-day losing streak on Tuesday after rallying 500 points intra-day, aided by strong global support and short covering in the most beaten down stocks. Expectation of a well co-ordinated bailout plan for Europe triggered a rally across globe. The 30-share BSE Sensex shot up 472.93 points or 2.95%, to close at 16,524.03 and the 50-share NSE Nifty rose 135.85 points or 2.81%, to end at 4,971.25 led by broadbased buying.
Experts, however, remained nervous despite today's rally. Mehraboon Irani of Nirmal Bang Securities said the bounce could stretch a little bit further. But the trend remains down, he says. Abhijit Paul of Brics Securities said the market has been in a wide range of 5200 on the upside and 4700 on the downside as a support. He still feels a possible test of 4430-4480 for the Nifty Future is very likely. There were reports that some portion of bailout plan (European Financial Stability Fund) may be used for Europe Central Bank and other portion for European Investment Bank as a seed capital. Other reports suggested that Greek's debt may be waived partially by European banks. European markets like France's CAC, Germany's DAX and Britain's FTSE were trading 2-3% higher. Even the Dow Jones and Nasdaq futures too rose 1% each. Asian markets gained 3-5% at close; only Shanghai rose just 0.9%. Commodities bounced back sharply as well after yesterday's sell-off. Precious metals like gold rose 5% to USD 1674.85 an ounce and Silver shot up 9.7% to USD 32.88 an ounce in the international market. Among others, copper gained 3.3%. Brent Oil rose 1.26% to USD 105.25 a barrel and NYMEX crude oil surged 2.5% to USD 82.26 a barrel. On the home turf, every sector joined the bulls' party and even 48 out of 50 stocks were on buyers' radar. The BSE Realty Index jumped 4.66%. IT and Oil & Gas indices rose 3.5% each. Bank, Auto, Metal, Power and FMCG indices gained 2-2.7%. Heavyweight Reliance Industries was the real hero today; it shot up 5% to near Rs 800 level. TCS, Infosys, BHEL, Cairn India, ICICI Bank, HDFC and HUL gained 3-4%. ITC, ONGC, Bharti Airtel and HDFC Bank were up 1.6-2.7%. DLF was the biggest gainer on Nifty led by short covering; the stock rallied 8%. Tata Motors and Jaiprakash Associates climbed 6% each. However, Cipla and BPCL were only losers. About two shares gained for every share falling on BSE. The broader indices gained 1.4-1.6%. Today's volume was low as compared to previous day. Total traded turnover was more than 1.78 lakh crore as against more than Rs 2 lakh crore seen yesterday. _PAGEBREAK_ At 14:36 hours IST : Sensex adds 450 pts; SBI, RIL, Reliance Cap most active A likely bailout plan for Europe has caught bears on the wrong foot. Indian equities saw mammoth gains on a pullback rally following steep global upmoves. The 30-share BSE Sensex surged 457 points to 16,508 and the 50-share NSE Nifty was trading at 4,970, up 135 points on support from 49 stocks. European markets like France's CAC, Germany's DAX and Britain's FTSE rallied 2-3%. The Dow Jones and Nasdaq futures moved up 1% each. Asian markets gained 3-5% at close; only Shanghai rose just 0.9%. On the home turf, DLF, Tata Motors, Jaiprakash Associates, Reliance Industries, BHEL, Infosys and TCS were top gainers among frontliners - surged 4-6%. Not a single sector showed a red tick; the BSE Realty and IT indices shot up 3.6% each. Oil & Gas, Bank, Auto, Power, Metal and Capital Goods were up 2-3%. Most active shares on exchanges were PG Electroplast, Reliance Capital, SBI, Godrej Properties, Reliance Industries and Infosys. About 2.5 shares gained for every share declining on BSE. Among midcaps, Hathway Cable shot up 17.5%. Rajesh Exports, Hexaware Tech, Sun Pharma Advanced and Sujana Towers were up 7-10%. However, Shree Global crashed 10%. Pipavav, Jyothy Labs, Ipca Labs and Manappuram Finance were down 2-4%. In the smallcap space, Den Networks rallied 16%. Symphony, Jamna Auto, ICSA and Money Matters rose 8-10% while Marathon Nextgen, Emami Paper, Zenith Infotech and Modern India lost 6-10%. At 13:30 hours IST : Sensex surges 400 pts; RIL, ICICI Bank gain 4% Consistent buying across sectors and strong global trend strengthened Indian equity market and pushed them 2.6% higher. The 30-share BSE Sensex climbed 414.5 points to 16,465.61 and the 50-share NSE Nifty jumped 125 points to 4,960.20. Nifty 4800 Put shed 2 lakh shares in open interest, which indicates huge put writing. Nifty September 5000 call added 4 lakh shares in open interest, which indicates huge buying or call writing happening. Heavyweights Reliance Industries and ICICI Bank shot up more than 4%. Technology stocks like TCS and Infosys rallied 3.5% each; Wipro rose 3%. BHEL too gained 3.5%. SBI, ONGC, ITC, Bharti Airtel, HDFC and HDFC Bank were up 1.5-3%. Tata Motors was the biggest gainer on Nifty - surged 6%. DLF, Jaiprakash Associates, Reliance Communications, Hindalco and SAIL moved up 4.5-5.5%. However, only Cipla was trading in the red tick. About 3.5 shares gained for every share falling. Among European markets, France's CAC rose 2.7% and Germany's DAX went up 3%. Britain's FTSE climbed 2%. The Dow Jones futures gained 89 points and the Nasdaq futures moved up 20 points. At 12:34 hours IST : Sensex rises over 350 pts; European markets gain 2-3% Indian equity benchmarks rallied 2% on hectic buying in major sectors like oil & gas, financial, technology, metal and capital goods. Strong global cues played a key role in the upmove. The 30-share BSE Sensex was trading at 16,425, up 374 points and the 50-share NSE Nifty moved up 110 points to 4,945. Asian markets too extended their gains - Kospi shot up 5%. Taiwan, Hang Seng and Nikkei jumped 3% each and Shanghai rose over 1%. Even European markets like France's CAC, Germany's DAX and Britain's FTSE climbed 2-3% in the opening trade on progress over bailout plan. On the sectoral front, the BSE Realty Index surged 3%. Bank, IT, Oil & Gas, TECk and Metal indices were up 2-2.5%. Heavyweights Reliance Industries, TCS and ICICI Bank shot up 3-3.5%. SBI, Infosys, Wipro, HDFC and BHEL went up 2-3%. Tata Motors and Jaiprakash Associates were biggest gainers - rallied 5% each. Bharti Airtel, ITC, HDFC Bank and L&T rose 1.5%. PG Electroplast, Reliance Capital, Godrej Properties, SBI, Reliance Industries and JSW Steel were most active shares on exchanges. About three shares advanced for every share falling. The broader indices jumped 1.5%. At 11:30 hours IST : Nifty sees triple digit rally on broadbased buying Indian markets extended rally on the back of broadbased buying and short covering after sharp fall in previous three sessions. The 50-share NSE Nifty jumped 101 points to 4,937 and the 30-share BSE Sensex moved up 334 points to 16,385, led by support from 29 stocks. Jaiprakash Associates, Tata Motors, DLF, ICICI Bank, Hindalco and Cairn India were top gainers among largecaps - shot up 3-5%. Reliance Capital surged 5% as founder Anil Ambani said he would consider bonus issue & special dividend for company. "We may seek to unlock value in general insurance business. We are in advanced stage to sell stake in Reliance Capital AMC to Nippon," he said. Heavyweights Reliance Industries, TCS, SBI, Infosys, Wipro, HDFC and BHEL gained 2-3%. HDFC Bank, ITC, L&T and Bharti Airtel rose 1-1.7%. However, only Cipla was in the red. Godrej Properties, Reliance Capital, SBI, Reliance Industries and Infosys were most active shares on exchanges. About three shares gained for every share declining on BSE. Midcaps like Rajesh Exports, Hathway Cable, Rallis India, Sun Pharma Advanced and Ruchi Soya shot up 6-10%. However, Shree Global plunged 10%. Pipavav Shipyard, Manappuram Finance, Standard Chartered IDR and Fortis Health lost 1-4%. At 10:23 hours IST : Nifty holds on to early gains; all sectoral indices up The equity benchmarks continued to trade higher on the back of strong global cues. CNBC learned that Eurozone officials are planning for an European investment bank already in existence to use special purpose vehicles to issue bonds that would help finance the purchase of debt. The 30-share BSE Sensex rose 82 points to 4,917 and the 50-share NSE Nifty jumped 276 points to 16,327 led by upmove in 48 stocks. Shruti Vora, technical analyst of equity and derivative group at Antique Stock Broking said, "If the Nifty holds 4,650 levels, the market can expect an upmove till about 5,100-5,200 levels." She also stated that if the Nifty tends to hold 4,650 levels, a bullish reversal is expected and one can play long. On the upside, 5,250 levels is a gap area resistance, before which one should book longs. Appreciation in rupee was also quite supportive; the Indian rupee was trading at 49.23 per dollar, up 0.21. All the sectoral indices were in the green. The most beaten down (in yesterday's trade) BSE Realty Index outperformed other indices today; it rallied nearly 3%. The BSE Bank, Oil & Gas and Metal indices were up 2%. IT, Power, Capital Goods and Auto indices moved up around 1.5%. Heavyweights like Reliance Industries, TCS, Infosys, ICICI Bank, Wipro, SBI and HDFC shot up 2-3%. However, only ACC and Sesa Goa were under selling pressure. About 5.5 shares advanced for every share falling on NSE. The broader markets like BSE Midcap and Smallcap indices rose 1.5% each. On the global front, Asian markets continued to trade higher. Kospi and Jakarta rallied 3.5-4%. Hang Seng and Taiwan jumped 2.5%. Nikkei and Straits Times were up over 1%. Meanwhile, Shanghai gained just 0.3%. At 9:20 hours IST : Global rally sends Sensex 250 pts higher Indian equity benchmarks bounced back sharply following recovery across the globe on hopes of finalization of European Financial Stability Fund. All sectoral indices were in the green on the back of further short covering. Even the broader indices were following the same trend. At 9:20 hours IST : the 30-share BSE Sensex surged 252 points to 16,303 and the 50-share NSE Nifty jumped 77 points to 4,913, led by buying in all stocks. Sterlite, Hindalco, Tata Motors, DLF, Jaiprakash Associates, Reliance Industries (up 2.5%), Reliance Capital, Reliance Communications, Reliance Infra, Reliance Power, ICICI Bank, SBI, Axis Bank, PNB and TCS, Wipro (up 4%) and Bharti Airtel gained 1.5-3.5%. The CNX Midcap rose 95 points to 7,167 and the BSE Smallcap Index was up 32 points at 6,955. About six shares gained for every share falling. DCB, Titan Industries, UCO Bank, Delta Corp, Orchid Chemical and Yes Bank gained 2-3%. Kingfisher Airlines surged 4%. Dish TV and Hathway Cable were up 1.5-2%. Pipavav Shipyard plunged 4% as Defence Ministry puts Pipavav Defence-Mazagon Dockyard JV on hold. Sun TV fell nearly 3% as CBI is likely to file chargesheet against Maran Brothers, reports CNBC-TV18 quoting sources. Global cues: Asian markets were trading higher. Kospi, Taiwan and Jakarta Composite rallied 3.5-4%. Hang Seng, Nikkei and Straits Times gained 1.5-2.5%. Shanghai rose just 0.4%. Global markets recovered after massive fall on Monday on hopes of finalization of European Financial Stability Fund. CNBC learned that Eurozone officials are planning for an European investment bank already in existence to use special purpose vehicles to issue bonds that would help finance the purchase of debt. The EFSF would also be used to shore up bank capital. The Dow Jones Industrial Average ended up 273 points at 11,044. NASDAQ Composite was up 33 points at 2,517 and S&P 500 Index rose 26.5 points at 1,163. Commodities Gold was down 2.7% at USD 1594.8/ounce on Monday after hitting a fresh 3-month low of USD 1535 an ounce. Gold has recovered some losses and now was trading at USD 1632 an ounce in early trade today. Silver fell 0.6% at USD 29.97/ounce yesterday; it was now trading at USD 30.8 an ounce today. Crude oil rose 0.5% at USD 80.24/barrrel Natural gas was up 2.1% at USD 3.78 per MMBtu F&O cues: Total stock futures OI add 2 cr shares in OI Nifty futures OI shed 2.4 lakh shares in OI, prem up at 9 pts vs 3 pts Nifty Open Int PCR at 1.20 vs 1.27 Total Put sheds 1.38 lakh shares, call adds 38.49 lakh shares Highest OI outstanding at 4800 put, 4700 put and 5000 call Nifty 4800 call adds 10 lakh (29%) shares in Open Int Nifty 5000 call adds 8.6 lakh (15%) shares in Open Int Nifty 4700 call adds 6 lakh (67%) shares in Open Int Nifty October 4800 call adds 5.2 lakh (87%) shares in Open Int Nifty October 5000 call adds 4.5 lakh (28%) shares in Open Int Nifty 5100 call sheds 7.13 lakh (12%) shares in Open Int Nifty 4900 put sheds 5.35 lakh (10%) shares in Open Int Nifty 5000 put sheds 4.82 lakh (10%) shares in Open Int Nifty 5100 put sheds 3.82 lakh (17%) shares in Open Int Nifty 5200 call sheds 3.70 lakh (6%) shares in Open Int India VIX up 0.77% at 35.43Discover the latest Business News, Sensex, and Nifty updates. 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