Sensex surges over 450 points; all sectoral indices in green
25 Mar 2011
Equity benchmarks extended gains in the afternoon trade - the Sensex added around 450 points and the Nifty was just shy of 5650 level at 14:48 hours. About 45 stocks out of Nifty 50 were in green - Infosys, TCS, NTPC, L&T, Reliance Industries, ICICI Bank, HDFC Bank, Wipro, ONGC, SBI, L&T, ITC and HDFC were the frontrunners, with gaining 1-5%.
The 50-share NSE Nifty added 125 points to 5,648 and the 30-share BSE Sensex surged 447 points to 18,798, outperforming the broader indices.
Devang Mehta of Anand Rathi Financial Services said the Nifty range now shifted to 5350-5750 from earlier 5200-5600.
"We are seeing a lot of strong buying as well as market breadth has been strong and it is encouraging that FIIs and DIIs both have been buying in the last two-three days. Though the low market volumes have been a little bit of a concern but my sense is that it should be cautiously positive," he said.
The BSE Midcap & Smallcap indices rose 1% each. Even the Nifty March futures were trading at 30 points premium ahead of expiry next week.
The BSE IT Index was heading the markets from front, with shooting up 4% followed by Realty, Bank, Capital Goods, FMCG, Power, Oil & Gas and Auto, which were up 1-2.5%.