Post Market Commentary

The market closed on an upbeat note by creating a rally across the sectoral indices scrips. The market opened firmly backed by favoring cues from the global markets and keeps on marching forward through out the trading session to close with handsome gains. The cues from the domestic market was good as the BJP got a comfortable victory in the Gujarat state election that wiped off the worries of early national election by the ruling Congress. The IT scrips remained in the limelight today on the back of heavy buying from these baskets ahead of Q3 December 2007 earnings. Both the BSE Mid cap and Small Cap closed higher by 186.17 points and 167.25 points at 9,211.71 and 11,980.57 respectively. The BSE Sensex closed with strong gains of 691.55 points at 19,854.12 and NSE Nifty closed higher by 218.6 points at 5,985.10. The BSE Sensex touched its intraday high of 19,879 and low of 19,308.20 during the trading session. Overall, the market breadth was strong as 1,966 stocks are closed in green while 941 stocks are closed in red.

BSE IT index grew by 260.98 points to close at 4,581.61. Scrips that gained are Wipro (8.86%), Edocomp Sol (7.86%), Infosys (6.63%), Satyam (6.28%), TCS (6.07%) and HCL Tech (5.39%).

BSE Metal index closed higher by 547.79 points at 18,820.79. Scrips that gained are Hindal Saw (6.93%), NALCO (5.49%), Sterlite Industries (4.56%), Tata Steel (4.57%) and Sesa Goa (4.51%).

BSE Capital goods index inclined by 498.19 points to close at 19,223.88. Scrips that grew are Areva (10.50%), Punj Lloyd (5.39%), BHEL (5.08%), Alstom Project (4.62%) and SKF India (2.70%).

BSE Oil & Gas index advanced by 432.28 points to close at 12,678.32 as GAIL (9.01%), ONGC (4.75%), BPCL (4.36%), Cairn India (4.19%), RPL (4.11%) and Essar Oil (3.83%) closed higher.

BSE Bankex index advanced by 363.15 points to close at 11,101.74 as PNB (6.53%), IOB (5.69%), ICICI bank (4.40%), Oriental bank (3.66%), BOB (2.92%), HDFC bank (2.89%) and SBI (2.86%) closed in negative.