Markets end higher led by realty, banks, IT, power, metal stocks

16 June 2008

It was a smart pullback rally for the markets on the back of buying in realty, banking, technology, power, FMCG and metal stocks. Markets finished the day on a positive note though there was selling in some oil, capital goods and auto stocks in late trade. The volumes remained low through the day. Positive cues from Wall Street and Asian markets also played a key role. Midcap and small cap stocks also remained in the limelight.

The Sensex has crossed 15500 mark again and hit an intraday high of 15,553.37. It has closed at 15,395.82, up 206.20 points or 1.36% but lost 157 points from day's high. The Nifty has hit 4600 mark and touched a high of 4617.70. It was up 55.4 points or 1.23% to settle at 4572.50 but lost 45 points from day's high.

Most beaten down sector like Realty has shown smart recovery and outperformed other indices. Index jumped by 3.54% or 200.64 points to close at 5,870.87 due to buying in Indiabulls Real, Unitech, Puravankara Proj, HDIL and DLF.

Market breadth was positive; about 1905 shares have advanced while 1039 shares declined. Nearly 176 shares remained unchanged.

Amongst frontliners, Unitech was up 5.89%, ICICI Bank 4.43%, Reliance Infra 3.97%, Bharti Airtel 3.15%, NTPC 3.07%,  PNB 4.27% and Tata Power 3.99% while Hindalco was down -2.31%, BHEL -2.15%, Reliance Communication -1.52%, SBI -0.61%, Hero Honda -2.49% and Dr Reddy's Labs -1.73%. 

Banking stocks like Axis Bank, ICICI Bank, Bank of Baroda, PNB, Union Bank, Kotak Mahindra and HDFC Bank have helped the Bankex to shot up by 2.83% or 199.69 points to settle at 7,255.63.