Nifty ends above 4500 led by metals, realty, FMCG, auto

It was a spectacular recovery for the markets after two consecutive days of fall. Huge buying across the sectors, especially realty, metal, FMCG, auto and infrastructure, supported the Nifty to end above 4500 mark and the Sensex above 15,000 level successfully. All sectoral indices ended in the green.

Strong earnings from largecaps like Maruti Suzuki, ITC and ACC also cheered the street; respective stocks surged over 5%. Bharti Airtel's US GAAP numbers were also good but the stock tanked a bit. Today's star performer was the Mahindra Satyam, which joined the league of top 5 IT companies on market cap basis. The stock surged 14.2% on huge volumes and ended above Rs 100 mark after more than six months (It had seen Rs 100 mark on January 7, 2009) and Tech Mahindra, who bought Satyam, was just 1.87%.

The 30-share BSE Sensex shot up 387.92 points or 2.61%, to 15,231.04 and the 50-share NSE Nifty closed at 4523.75, up 2.84% or 124.85 points over previous close. The broader indices also closed 2% higher. The Nifty July futures finished with 16 points premium (provisional data).

Mitesh Thacker of Miteshthacker.com said the key factor was that the Nifty remained in an uptrend after the break above 4430. "As long as we do not break 4350-4400 on the downside, it is very likely that the Nifty will test its previous highs around 4665-4670 levels", he said.

Volumes remained above the Rs 1 lakh crore mark; total traded turnover was at Rs 1,01,981.66 crore as against Rs 1,19,647.60 crore. This included Rs 19,043.47 crore from the NSE cash segment, Rs 74,885.56 crore from the NSE F&O and the balance Rs 8,052.63 crore from the BSE cash segment.

The market breadth was in favour of advances; about 1864 shares advanced while 903 shares declined on the BSE. Nearly 398 shares remained unchanged.

Global cues:
Asian markets ended higher. Hang Seng surged nearly 3%. Shanghai, Jakarta and Straits Times were up 1-1.65%. Nikkei was up 0.7%. Kospi and Taiwan Weighted were flat.