Indian Market Has Biggest Rise Since June 9th On Higher Asian And European Peers

–Free float methodology from today increases support

Sensex rose 419.02 points or 2.9% to 14764.64
Nifty rose 133.65 points or 3.2% to 4375.50.
Mid Cap index rose 2.4%. Small Cap rose 1.9%.
BSE 500 was up 2.7%. Sensex gainers: 27

Of 13 BSE Sectoral indices, 12 posted gains
Advancers: 1692, Decliners: 935, Unchanged: 105
Advance/Decline ratio: 7:4

Sensex Day’s Range: 14781.94 - 14373.57
Nifty Days Range: 4383.75 - 4243.95
52-Week Range: 15600.30 - 7697.39
52-week change: -5.4%

Sensex gainers include ICICI Bank +8%, Sterlite Ind +6.1%, Larsen & Toubro +5.5%, TCS +4.4%, Infosys +4.4% and Reliance Communications +3.9%.

Sensex losers were: Sun Pharma -12.2%, Tata Steel -2.5% and Mahindra & Mahindra -0.7%.

Bankex climbed 4.3% led by ICICI Bank +8%, Kotak Mahindra Bank +5.3%, Axis Bank +5.3%, IndusInd Bank +4.4% and Punjab National Bank +4.1%.

Capital Goods index gained 4.2% aided by Kirloskar Oil +9.7%, Kirloskar Bros +7.1%, Larsen & Toubro +5.5%, Jyoti Structure +5% and Suzlon Energy +4.7%.

IT index surged 3.6% supported by Mphasis +4.9%, TCS +4.4%, NIIT +4%, Infosys +3.9% and Patni Computer +3.7%

Realty index moved up 3.1% backed by HDIL +11.3%, Indiabulls Realty +5%, Akruti City +5%, Orbit Corp +5% and Anant Raj Ind +5%.

Oil & Gas index moved up 2.9% helped by Aban Offshore +4.1%, Cairn India +4.1%, Reliance Natural +3.6%, Relinace Industries +3.5% and Reliance Petro +3.2%.

Metal index climbed 2.7% assisted by Sterlite Ind +6.1%, Jindal Steel +5.8%, Ajmera Realty +5.3%, JSW Steel +5.1% and Hind Zinc +3%.

Other sectoral movers were: Teck +2.8%, Power +2.4%, PSU +1.8%, FMCG +1.7% and Auto +1.1%.

Heathcare was the only sector, which fell 1.5% led by Sun Pharma -12.2%.

Volume Shockers on the BSE:
IFCI 25.05 million shares, Ispat Ind 18.36 mln shares, Suzlon 16.88 mln shares and Unitech 15.89 mln shares.

Turnover:
Volumes were lower and the total traded turnover stood at Rs 71,092.23 crore as against Rs 1,24,076.92 crore on Thursday. This included Rs 17,507.32 crore from NSE cash segment, Rs 48,071.62 crore from NSE F&O and the balance Rs 5,513.29 crore from the BSE cash segment.

Buzzers:
Nesco +20% at Rs 906.90, Rallis India +18.3% at Rs 680.05, CMC +14% at Rs 790, Advanta +13.2% at Rs 695.75, Spice +13.2% at Rs 166.50 and Bhagiradha Chem +11.9% at Rs 48.

Heavy Losers:
Sun Pharma -12.2% at Rs 1140.45, Apar Ind -7.9% at Rs 115.95, IFGL Refractories -7.3% at Rs 23.65, Savera Hotels -7.1% at Rs 32.20 and Bodal Chemicals -6.6% at Rs 28.55.

Agri commodities shares move up:
In wake the good monsoon start, some agri sector shares moved up sharply. Rallis India was up 18.3% at Rs 680.05, Advanta +13.2% at Rs 695.75, Bhagiradha Chemicals up 11.9% at Rs 48, Insecticides India +10.9% at Rs 75.10, Basant Agrotech +9.8% at Rs 34.70 and Sabero Organics moved up 6.8% to Rs 29.85.

Sterlite Industries moves up 6 pct:
Non-ferrous metals firm Sterlite Industries rose 6.1 percent to Rs 612.05 after copper prices in Shanghai rose for a fourth straight session on Friday.

Tata Steel attracts sellers:
Tata Steel ended 2.5 percent lower at Rs 387.90 after the world’s sixth-largest steelmaker reported a 60 percent drop in 2008/09 consolidated net profit, missing market forecasts.

Market this week:
Sensex up 1.7%
Nifty +1.4%

Asian Markets:
Asian markets ended on a positive note. Hang Seng was up 1.78%. Nikkei and Straits Times gained 0.7-0.8%. Kospi, Taiwan Weighted, Shanghai and Jakarta closed flat.

European Markets:
European markets were quoting: FTSE 100 was +0.3%. The CAC 40: +0.4% and the DAX was -0.1%.

Crude:
Crude was quoting at $69.27 per barrel.

Optimism:
Investors are, however, pinning hopes the government’s budget on July 6 will unveil pro-market reforms such as privatisations and relaxation of foreign investment rules.

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