Markets close higher; banks, power, realty, telecom gain

It was an extremely volatile session for the markets. However, the benchmark indices managed to stay on the higher side in the second half of the trade. The Nifty surpassed the 4350 level during the day. Education, sugar, brokerage and oil marketing companies' shares witnessed huge buying interest in today's trade.

Upside in telecom, realty, banking, power, technology and select metal stocks along with Reliance Industries helped the markets. Positive global cues were also being supportive. However, selling in ONGC, Power Grid, Cipla, Nalco, Hindalco, Grasim and Maruti added some volatility.

The 50-share NSE Nifty remained ranged at 4300-4350 and the 30-share BSE Sensex at 14600-14700 in the second half of the trade. Former Index closed at 4340.90, up 1.16% or 49.80 points and later one went up 151.63 points or 1.05%, to settle at 14,645.47.

In the sugar space, Bajaj Hindusthan, Balrampur Chini, Dhampur Sugar, Dharani Sugars, Dwarikesh Sugar, Sakthi Sugars, Shree Renuka Sugars, Thiru Arooran and Triveni Engineering jumped 1-7%.

Education stocks like Educomp Solutions, Everonn Systems, Aptech and NIIT surged 10-14.6%. Brokerage stocks like India Infoline, Khandwala Securities, Motilal Oswal, Apollo Sindhoori and Consol Finvest gained 4-9%.

Sectoral indices
All sectoral indices ended in the green. The Realty Index outperformed other indices while the same index underperformed other indices. The Index gained 4.25%. Among others, TECk, Bank, Auto, Oil & Gas, Power and IT indices were up 0.9-1.6%.