Markets end strong led by commodity stocks; realty up 12.5 per cent

10 December 2008

It was a strong session for the benchmark indices and that continued for the second consecutive day. Huge buying in metal, oil, telecom and capital goods stocks boosted the markets. Realty, auto, power, banking and technology stocks were also on buyers' radar.

Volumes were also pretty high as compared to last few sessions. The Nifty closed above 2900 mark while the Sensex crossed 9600 level. Strong Asian markets was another reason for today's rally. US markets futures also jumped up on hopes of tentative auto rescue package.

Reliance Industries, DLF, Bharti Airtel, SAIL, Reliance Communication, ONGC, Wipro, ICICI Bank, HDFC, BHEL, Tata Steel and L&T were leaders in today's trade.

The Sensex had hit an intraday high of 9,678.70, before closing the day at 9,654.90, up 492.28 points or 5.37% over previous close. The 50-share NSE Nifty shut shop at 2928.25, up 5.18% or 144.25 points over previous close. It has touched a high of 2940.15.

Broader indices also followed the same trend. BSE Midcap Index gained 63.21 points or 2.19% at 2,948.24 and Small Cap Index was up by 52.25 points or 1.56% at 3,395.45.

Volumes were very high in today's trade, markets clocked turnover of Rs 59,269.1 crore. This includes Rs 11,501.3 crore from NSE Cash segment, Rs 43,597.57 crore from NSE F&O and the balance Rs 4,170.23 crore from BSE Cash segment.