Markets end higher amid volatility; realty jumps 10.6 per cent

19 December 2008

Overall, it was a day of volatility, where in the benchmark indices managed to end higher. Shares of realty, auto, capital goods, power, metal and major telecom companies supported the markets. However, selling was seen in ONGC, Cairn India, Satyam as well as cement and select banking stocks. Reliance Industries played a key role a bit in today's volatility.

The 50-share NSE Nifty has touched a 3100 mark during the day. It has touched an intraday high of 3106.80 and low of 3036.30, before closing with a gain of 16.75 points or 0.55% at 3077.50. The 30-share BSE Sensex went up just 23.48 points or 0.23% to 10,099.91, after hitting a high/low of 10,188.54 and 9,987.42, respectively.

A bit of effect of expectations of rate cut, due to decline in inflation numbers, on realty, auto and infrastructure stocks continued in today's trade as well. Banking stocks were also up during the day, but in last couple of hours, they turned into red due to profit booking.

BSE Realty Index surged 241.35 points or 10.57% to 2,525.34. Unitech shot up 16.14%. Indiabulls Real and DLF gained over 10.6%.

Auto stocks like Amtek Auto rose 8.14%. M&M, Tata Motors and Maruti Suzuki jumped 2.5-4%. Index was up 45.14 points or 1.79% at 2,561.63.

Power Index closed with a gain of 18.67 points or 1.01% at 1,863.67. GVK Power, Power Grid Corp, CESC, GMR Infra, Reliance Infrastructure, Tata Power and Reliance Power were up 1-8%.