Markets end strong ahead of expiry day; Realty jumps 6 per cent

25 March 2009

The benchmark indices surged higher on the back of short covering in the second half of the trade, after witnessing volatility throughout the session ahead of F&O expiry day. More or the less it was a positive day for the markets, barring few blips during the day. The Sensex crossed the 9700 level during the day while the Nifty closed below the 3000 mark. Dealers expect the F&O expiry at around 2950 levels.

Buying in capital goods, metal, realty, banking, FMCG, private power companies' shares as well as Reliance Industries and Infosys helped the markets to stay higher for major part of the session. However, the sell-off in ONGC, NTPC, Bharti, HUL, Wipro, Tata Motors and Ranbaxy Labs capped the gains. Broader indices also followed the benchmark indices to some extent while the global cues were mixed today.

The 30-share BSE Sensex has touched an intraday high of 9,706.47, before closing the day at 9,667.90, up 2.08% or 196.86 points. The 50-share NSE Nifty went up 1.55% or 45.65 points, to settle at 2,984.35, after hitting a high of 2996.50.

The markets clocked turnover more than Rs 90,000 crore for the second consecutive day due to F&O turnover. Total turnover stood at Rs 90,894.52 crore. This includes Rs 12,348.98 crore from NSE cash segment, Rs 74,456.63 crore from NSE F&O and the balance Rs 4,088.91 crore from BSE cash segment.  

Jaiprakash Associates, Tata Power, Sterlite Industries, DLF, Reliance Infrastructure, Reliance Industries and PNB were top gainers, went up 5.6-8.5%. Unitech was the biggest gainer, jumped 16.87%.

Market breadth was slightly in favour of declines; about 1447 shares advanced while 1475 shares declined. Nearly 151 shares remained unchanged.