Markets end on strong note; Bank, Realty up over 5 per cent

Markets closed with strong gains. It has recovered almost all the losses what it had in yesterday's trading session due to hike in Repo rate. Nifty closed above 4300. Except FMCG all the BSE indices closed in green. There was a huge buying interest seen in realty, bank, metal, IT, power, oil & gas, capital goods and auto stocks. The BSE midcap and smallcap indices gained over 1.5% each. Rate sensitive sector stocks witnessed short covering in today's trade.

After having a good opening on the back of positive global cues and declined crude price, the Sensex and the Nifty traded high through out the day. Yesterday, crude hit a three-month low at USD 121.90 per barrel and the Dow gained 2.39%, to 11,397.56 and the Nasdaq advanced 2.45% to 2,319.62.

Fresh long buying was seen by funds in select large cap stocks. Rate sensitive sector stocks witnessed short covering in today's trade. Stocks like Tata Steel, MTNL, Ranbaxy witnessed fresh buying today.

The Sensex was up 495.67 points or 3.59% at 14287.21, and the Nifty was up 123.70 points or 2.95% at 4313.55.

Markest breadth was exteremly positive, about 1915 shares have advanced, 1016 shares declined, and 223 shares are unchanged..

Amongst midcap stocks, Thomas Cook, AstraZeneca, Dishman Pharma, Puravankara Proj, Sterling Bio and Godfrey Phillip rose 10-20%.
 
In the small cap space, SEL Manufacturing, Usher Agro, Suprajit Eng, FDC, Sujana Towers and Asian Star shot up 12-20%. 
 
Axis Bank, Bank of Baroda, Union Bank, HDFC Bank, Bank of India, SBI, Kotak Mahindra, ICICI Bank and Yes Bank have gained 4.5-10%.
 
Realty stocks like Indiabulls Real, Puravankara Proj, Anant Raj Ind, Ansal Properties, DLF, Akruti City and Unitech shot up 3.4-13.5%.
 
Jindal Steel, Tata Steel, Hind Zinc, Sterlite Ind, Guj NRE Coke, JindalStainless, SAIL and Bhushan ended with a gain of 3.5-9%.
 
Technology stocks like Wipro, Tech Mahindra, Rolta, Infosys, Mphasis, TCS and Satyam rose 3-5%.
 
Amongst telecom stocks, Tata Comm, MTNL, Bharti Airtel, Reliance Comm, Idea Cellular and Tata Teleservices have gained.
 
In the oil and gas space, RNRL, BPCL, IOC, Reliance Ind, GAIL, Cairn India and Reliance Petro surged 3-11%.
 
Power stocks also charged up heavily. Tata Power, Reliance Infra, Reliance Power, GMR Infra, Power Grid Corp and Suzlon Energy shot up 3-7%.
 
Auto stocks like Hero Honda, Tata Motors, Maruti Suzuki, M&M and Escorts spurted up 2-6%.
 
Capital Goods Index rose due to buying in Punj Lloyd, Kirloskar Oil, Kirloskar Bros, BHEL, Crompton Greaves, Jyoti Structure and Thermax, which gained 3-12%.
 
Dishman Pharma, Sterling Bio, Matrix Lab, Ranbaxy Labs and Lupin have gained.

Total turnover stood at Rs 76598.03 crore. This includes Rs 12718.05 crore from NSE Cash segment, Rs 58543.91 crore from NSE F&O and the balance Rs 5336.07 crore from BSE Cash segment.

Asian markets were trading higher. Hang Seng, Nikkei, Straits Times, Kospi and Taiwan gained 1-2%.