Nifty ends above 6100; autos, FMCG, banking stocks rally

The market continued its aggressive buying in the two-hour special trading session. The Nifty closed above the 6100 for the first time since January 4, 2011. The Nifty ended the day at 6107.25, up 12.50 points while the Sensex surged 60.28 points to close at  20142.90. This was a spectacular week for the market as investors' hunger for stocks kept rising, taking the both the Sensex and Nifty up 2.8 percent each.

Autos, FMCG, consumer durables and banking stocks led the rally. Dr Reddy's Lab (up 3.4 percent), Sun Pharma, Sterlite Industries, Coal India and Cipla were the biggest gainers in the Sensex.

Essar Oil gained 3.4 percent after the company reported net profit of Rs 200 crore in March quarter, as against net loss of Rs 608 crore year-on-year.

Other big movers of the day were NDTV (up 8.8 percent), Zee News (up 6.4 percent).

Midcap gainers of the week included MMTC (up 23.7 percent), DB Realty (16.3 percent), Muthoot Finance(up 15.4 percent), Apollo Hospitals(up 14 percent) , MphasiS (up 13.5 percent), M&M Fin(up 10 percent), MRF(up 9.3 percent), Corporation Bank (up 9 percent).

Meanwhile, NTPC, TCS, Infosys, BHEL and HDFC were the major losers in the Sensex. Sobha Developers fell 2.54 percent as its consolidated net profit declined 28 percent to Rs 69.60 crore on 12.1 percent growth in net sales to Rs 585.40 crore in the fourth quarter of FY13, Y-o-Y.

Key equity benchmarks were trading flat in a special 90-minute trading session on Saturday. The market will remain open till 12.45 pm. The Dow and S&P 500 ended at record highs on Friday, and stocks posted a third consecutive week of gains.

Selective buying was seen in pharma, metal and FMCG stocks. IT and auto stocks were marginally down.

Key gainers in the Nifty were Dr Reddys Labs, BPCL, Sun Pharma, Coal India and Cipla, up between 1 to 3 percent.

Laggards included Coal India, Jindal Steel, UltraTechCement, NTPC and PNB, down over a percent each.

Diesel prices were on Friday, hiked by Rs 1.02 per litre, the fourth increase in rates this year. The companies have made up for skipping the April revision by increasing rates by Rs 0.90 per litre, excluding local sales tax or VAT. HPCL, BPCL and IOC were up one percent each.

Reliance Communications was up 0.5 percent after the company posted flat sales growth and three-fold jump in its net profit boosted by other income.

Media stocks that were buzzing in trade on Friday saw some profit booking today. TV Today and NDTV lost over 2 percent each.

In the midcap space, shares of DB Realty, HMT, Essar Oil and RCF made smart moves today.