Sensex breaches 17,000 mark: IT stocks surge

It was a volatile session for the markets. After touching the 17,000 mark in the morning it kept moving to and fro but ended the day on a flat note. strong performance of by IT and banking stocks. However, realty and oil & gas stocks were trading under pressure on account of selling pressure.

The Sensex breached the 17,000 mark for the first time ever but could not sustain ts position at the higher levels. Suprise rally was seen in IT stocks like Wipro, Satyam, Infosys followed by select buying in bank and metal stocks

Sensex rally from 16,000 to 17,000 has been led Reliance group of stocks along with telecom pivotal Bharti, L&T, HDFC and ICICI Bank.

When we look at it in terms of sectors, energy sector is the forerunner whether it has been oil & gas major Reliance Ind or Rel Energy. Reliance Petroleum and RNRL made big moves in the last week. After the 50 bps rate cut by the Fed realty stocks were buzzing as well and among the gainers were DL, Unitech and Penisula Land. Metal stocks like Sterlite, Sesa Goa, Tata Steel, SAIL and Hindustan Zinc have been helping the uptrend.

Sensex was up 21.85 points or 0.13% at 16921.39, and the Nifty up 13.55 points or 0.27% at 4952.40.

About 1614 shares have advanced, 1347 shares declined, and 72 shares are unchanged.

The BSE Midcap Index ended at 7,352.62 up 0.54%.

The BSE Smallcap Index ended at 9,029.34 up 0.7%.

The BSE Bankex was up 1% at 8,038.07. Karnataka Bank, Kotak Mahindra, SBI, ICICI Bank, Yes Bank, Bank of India moved upwards.

The BSE Capital Goods Index was down 0.4% at 13,714.26. Kalpataru Power, Praj Industries, Kirloskar Bros, BEML, Triveni Engg closed lower.

The BSE Health Care Index was down 0.5% at 3,703.82. Orchid Chemical, Glenmark, Wockhardt, Apollo Hospital, Divis Labs closed lower.

The BSE Auto Index closed at 4,867.13 down 1%. Maruti Udyog, Apollo Tyres, Mah and Mah, Exide Industrie, Hero Honda closed higher.

The BSE Metal Index closed at 11,772.22 down 1.4%. Shree Precoated, Jindal Steel, Mah Seamless, Hindalco, JindalStainless closed lower.

The BSE FMCG Index closed at 2,098.05 down 0.7%. United Spirits, Dabur India, United Brewerie, Colgate, HUL
closed lower

BSE Oil and Gas Index closed flat at 8,260.71. RNRL, Petronet LNG, Reliance, Reliance Petro ended in red.

The BSE IT Index was up 2% at 4,470.56. Satyam, HCL Tech, Infosys, Patni Computer, Wipro, TCS closed higher

The BSE realty Index lost 1% at 7,470.27. Unitech, Ansal Propertie, Mahindra Gesco, DLF closed lower.

The NSE cash turnover was at Rs 16960.82 crore and the NSE F&O turnover was at Rs 78536.17 crore. The BSE cash turnover was Rs 7784.10 crore. Total market wide turnover was at Rs 103281.1 crore.

Asian markets trading firm, Japan''s Nikkei was flat at 16,399.96, Taiwan''s Taiwan Weighted gained 1.44% or 131.01 points at 9,236.29, Singapore''s Straits Times was up was up 0.17% or 6.23 points at 3,631.05 and South Korea''s Seoul Composite rose 0.54% or 10.29 points at 1,919.26.