Nifty ends above 200 DMA of 4230; broader markets outperform
15 Jul 2009
It was another day of strong performance from the benchmark indices on the back of positive global cues and huge buying in the high beta stocks. The Nifty closed successfully above the 200 DMA (daily moving average) of 4230 and the Sensex sustained above the 14000 mark in the second half of trade.
The rally was led by infrastructure (capital goods + power), metal, rate sensitive and oil & gas stocks; respective indices shot up 2.5-8%. All the BSE sectoral indices ended in the green. Only Infosys and Ambuja Cements closed in red among the Nifty 50 and Sensex 30 stocks.
The broader indices outperformed the benchmark indices in today's trade as well. The market breadth was strong; about 2097 shares advanced while 621 shares declined on the BSE. Nearly 441 shares remained unchanged.
The 30-share BSE Sensex closed at 14,253.24, up 399.54 points or 2.88% and the 50-share NSE Nifty surged 2.97% or 122.10 points, to settle at 4233.50. The Nifty July futures closed in premium. Among the broader indices, the BSE Midcap Index went up 4.15% and Smallcap Index rose 4.6%.
On the global front, Asian markets ended 1.4-3.4% higher barring Nikkei, which closed flat. At the time of closing of Indian equities, European markets were trading with 1.5-1.9% gains. The US futures went up nearly 0.8-2%.
Hindalco, Jaiprakash Associates, DLF, Hero Honda, BHEL, Reliance Power and Idea Cellular were top gainers, went up 6-8.5%.