Markets end strong; Nifty above 5100, cap gds, realty up

15 May 2008

It was a spectacular session for the markets as it opened on a strong note and sustained at higher levels through the day. In late trade, it shot up to the roof and gained further; the Nifty touched 5100 mark and the Sensex remained above 17300. Capital Goods, realty, oil & gas, banking, power and metal stocks played the key role today. Midcap and small cap maintained upmove for the whole day. Market breadth was strong. On the global front, Asian markets ended mixed. Europe were trading mixed at the time of writing market report.

The Sensex has hit an intraday high of 17,366.19 and low of 17,079.94 before closing the day at 17,353.54, up 2.21% or 375.19 points. The Nifty surged by 2.07% or 103.5 points to settle at 5115.25 and hit high/low of 5118.55 and 4999.60, respectively. Market breadth remained positive;

Midcap and small cap stocks also finished higher, both indices were up 1.3% each. Midcap stocks like Mercator Lines, Lupin, Madras Alumini, Triveni Engg, Ashapura Mine, Bajaj Hind, Tanla Solutions, Monsanto India, Nava Bharat Ven, Shree Renuka and Castrol were up nearly 6-11%.

Biggest gainers were Hindalco, Reliance Communications, L&T, Reliance and PNB while losers - Satyam, HUL, Tata Motors, Dr Reddy's Labs and Hero Honda.

Capital goods stocks outperformed the markets led by Triveni Engg, Crompton Greaves, Kalpataru Power, Larsen, Alstom Projects, BHEL and Kirloskar Bros. The BSE Capital Goods Index went up by 3.46% or 454.74 points at 13,600.80.

Realty stocks rallied higher, index up 3.41% or 264.87 points at 8,042.52 due to Phoenix Mills, Omaxe, HDIL, Parsvnath, Akruti City, Unitech and DLF.