The markets traded higher throughout the day and closed with good gains ahead of the election results on Saturday. Good buying interest was seen in banks, capital goods, IT, realty, metal, power, pharma, auto and oil & gas stocks.

The Sensex closed up 300.51 points or 2.53% at 12173.42. It has has touched an intra day high of 12,219.54 and an intra day low of 11,948.70.

The Nifty ended up 78.20 points or 2.18% at 3671.65. It has touched an intra day high of 3686.25 and an intra day low of 3597.85.

The market breadth was positive, about 1576 shares advanced, 1170 shares declined, and 374 shares were unchanged.

Top gainers on the Sensex were Ranbaxy Labs at Rs 199.80 up 8.59%, ICICI Bank at Rs 574.45 up 7.03%, Grasim at Rs 1,881.60 up 4.96%, Bharti Airtel at Rs 799.80 up 4.68% and L&T at Rs 988.15 up 4.32%.

However, top losers on the Sensex were ONGC at Rs 812.95 down 2.27%, NTPC at Rs 187.60 down 0.56%, ITC at Rs 186.15 down 0.51%, Hindalco at Rs 70.40 down 0.49% and HUL at Rs 224.30 down 0.09%.

The flows were mixed at FII desk with volumes relatively low in today's trade. Aban offshore was rallying on rumors of institutional buying however delivery volumes were on the lower side. The stock was up more than 20%. Sugar stocks saw some buying interest ahead of election results tomorrow.

Nirmal Jain of India Infoline said the markets can rally if National Democratic Alliance (NDA) comes to power. "However, it will consolidate and trade rangebound if United Progressive Alliance (UPA) comes to power. If that happens, the market is most likely to await budget cues." According to him, institutions are relieved that the chance of Left coming to power has decreased. Speaking on how the markets will trade on Monday post the declaration of election results on Saturday, Jain said, "We are unlikely to see a Black Monday due to reduced speculative positions".

The BSE midcap and smallcap were up 1.33% and 0.84% respectively.

Sectoral indices

The BSE bankex was up 3.86% or 237.03 points at 6375.65. Stocks like Oriental Bank, ICICI Bank, Bank of India, Federal Bank and SBI gained 4-8%.

Capital Goods stocks like Kirloskar Bros, Usha Martin, ABB, Thermax and Praj Industries were up 5-9%. The BSE capital goods index was up 3.57% or 298.98 points at 8676.35.

The BSE IT index was up 2.47% or 68.82 points at 2850.73. Stocks like Patni Computer, TCS, Mphasis, Wipro and HCL Tech were up 3-12%.

The BSE realty index was up 2.14% or 50.31 points at 2404.87. Stocks like Unitech, DLF, Anant Raj Ind, Puravankara Pro and Akruti City gained 1-4%.

Power stocks like ABB, Siemens, Crompton Greave, GVK Power and Tata Power were up 2-6%. The BSE power index was up 1.88% or 40.96 points at 2216.53.

The BSE metal index was up 1.76% or 136.04 points at 7872.70. NALCO, Sesa Goa, Guj NRE Coke, SAIL and Tata Steel were up 3-7%.

The BSE healthcare index was up 1.49% or 46.50 points at 3161.14. Sun Pharma Adv, Ranbaxy Labs, Bilcare, Glenmark and Fortis Health were up 4-9%

The BSE oil & gas index was up 1.21% or 101.50 points at 8509.62. Aban Offshore, GAIL, Reliance Petro, Reliance and BPCL were up 2-22%.

The BSE auto index was up 1.11% or 41.23 points at 3742.86. Amtek Auto, Ashok Leyland, Bharat Forge, Apollo Tyres and Hero Honda were up 2-5%.

Turnover

Total traded turnover stood at 72746.08 versus Rs 69,116.01 crore on Wednesday. This comprised of Rs 14802.68 crore from NSE cash segment, 52853.00 crore from NSE F&O and the balance Rs 5090.40 crore from BSE cash segment.

On the Global front:

Asian markets ended higher. China's Shanghai Composite was up 0.20% or 5.376 points at 2,645.263. Hong Kong's Hang Seng surged 1.51% or 249.01 points at 16,790.70. Japan's Nikkei added 1.88% or 171.29 points at 9,265.02.

European markets are trading flat. FTSE, CAC DAX were trading with 2-10 points gains.

Market Snapshot

Nifty closes at 3671, up 78 points or 2.18%; Sensex closes at 12173, 300 up points or 2.5%

CNX Midcap up 1.7%; BSE smallcap up 0.8%, Nifty Junior up 1.37%

BSE Bankex up 3.8%, ICICI Bk up 7.17%, BOI up 5.26%, HDFC up 4.17%, SBI up 3.6%

BSE Cap gds up 3.5%: Siemens up 6.9%, LT up 4.5%, ABB up 6%

BSE IT up 2.5%: Patni up 14.5%, Wipro up 3.9%, TCS up 3.9%, HCL tech up 4.12%

Shipping gainers: Essar Ship up 6%, Mercator up 5%

Index gainers: Ranbaxy up 8.7%, Idea up 7.7%, Bharti up 4.6%, Relcap up 4%, DLF up 3.18%

Under pressure: ONGC dn 2.1%, Bharti Shipyard dn 4.5%, Gt Offshore dn 4.24%

Non Index gainers: Aban up 22%, Kingfisher up 6.27%, DCB up 4.7%, Sesagoa up 5.9%, India Info up 3.5%.

Asian markets ended higher. China's Shanghai Composite was up 0.20% or 5.376 points at 2,645.263. Hong Kong's Hang Seng surged 1.51% or 249.01 points at 16,790.70. Japan's Nikkei added 1.88% or 171.29 points at 9,265.02.