Markets end higher; Realty index up 8 per cent, midcaps outperform

18 March 2009

The benchmark indices resumed their uptrend and closed higher. Short covering, positive Asian and US cues helped the markets. The Sensex traded above the 9000 mark while the Nifty traded above the 2800 level for most of today's session.

But the fall in European markets from the day's high and profit booking at higher levels in the last one hour wiped out some of the gains. Both the indices struggled at pivotal points of 9000 and 2800 in the last one hour, respectively.

Shares of realty, oil & gas exploration, capital goods, metal and technology companies remained supportive throughout the session. However, the sell-off in the shares of oil marketing companies, FMCG, select power companies and in stocks like Bharti Airtel, HDFC, ACC, Ambuja Cements and M&M capped the gains.

The 30-share BSE Sensex fell nearly 144 points from the day's high of 9,120.46, before closing the day at 8,976.68, up 112.86 points or 1.27% over previous close. The 50-share NSE Nifty shut shop at 2794.70, up 1.35% or 37.25 points, after shedding over 41 points from the day's high of 2836.05.

Broader indices outperformed the benchmark indices in today's trade. The BSE Midcap Index was up 2.36% or 63.55 points, to 2,759.90 and the Small Cap Index closed at 3,064.48, up 1.8% or 54.17 points. The CNX Midcap went up 3.29%, to settle at 3267.40.

Volumes have increased by Rs 1700 crore as compared to previous session; total traded turnover stood at Rs 69,908.44 crore. This includes Rs 10,895.55 crore from NSE Cash segment, Rs 54,871.64 crore from NSE F&O and the balance Rs 4,141.25 crore from BSE Cash segment.