The benchmark indices ended the session at nine-month high on the back of positive global cues. Shares of oil & gas, realty, cement, metal, power and select technology companies helped the indices to remain on the higher side. However, the sell-off in banks and select telecom stocks capped some of the gains.

The markets saw this positive trend for the fourth consecutive day. The broader indices witnessed sharp rally and outperformed the benchmark indices; hotel and fertiliser stocks were the biggest contributors in trade today.

The 50-share NSE Nifty closed above 4510 and touched an intraday high of 4545.40. It was up 1.82% or 80.95 points, to settle at 4529.90. The Nifty June futures ended with 20 points premium.

The 30-share BSE Sensex touched an intraday high of 14,906.81, before closing the day at 14,840.63, up 1.47% or 215.38 points. The broader indices - the BSE Midcap Index was up 2.92% or 147.47 points, to close at 5,204.21 and the Smallcap Index rose 3.51% or 209.96 points, to 6,196.78.

Suzlon Energy, Unitech, Cairn India, Tata Steel, Sterlite, Tata Steel, ACC, NTPC and Jaiprakash Associates were the top gainers, went up 6-16%.

Hotel stocks witnessed huge buying interest and helped the broader indices to some extent. Asian Hotels, EIH, EIH Associated Hotel, Hotel Leela, Indian Hotels, Kamat Hotels, Oriental Hotels, Royal Orchid and Taj GVK Hotels were up 10-20%. Advani Hotels, Bhagwati Banquet, Jaypee Hotels and Viceroy Hotels gained 5% each.

Shipping stocks were in the limelight due to gains in the Baltic Dry Index, which was up 196 points or 5.94%, to 3,494. Mercator Lines shot up 14.91%. ABG Shipyard, Essar Shipping, Garware Offshore, GE Shipping, Seamec, Shipping Corporation, Shreyas Shipping and Varun Shipping gained 3-8%.

Bharati Shipyard was up 10.01% and Great Offshore rose 2.79%, Bharati Shipyard will make an open offer to acquire another 20% stake in Great Offshore.

In the fertiliser space, Chambal Fertilisers, Deepak Fertilisers, Fertiliser and Chemical, Mangalore Chemical, Nagarjuna Fertiliser, National Fertiliser and Rashtriya Chemical shot up 7-10%. Coromandel Fertiliser, GNFC and Oswal Chemical gained 2.4-4.3%.

Cement stocks like ACC and Ambuja Cements were up 6-7%. Grasim, India Cements, Mangalam Cement, Prism Cement, Shree Cements and UltraTech Cement gained 2.6-6%. JK Cement, JK Lakshmi Cement, Dalmia Cement and Heidelberg Cement were up 10-19%.

Sectoral indices
The BSE Realty Index outperformed the other indices; went up 215.70 points or 5.65%, to 4,035.59. Unitech shot up 15.61%. Orbit Corporation, HDIL, Peninsula Land, Akruti City, Puravankara Projects, Parsvnath and Ansal Properties were up 5-9%. DLF gained 2.86%.

Metal stocks ended in the green; Jindal Saw, Jindal Steel, Tata Steel and Sterlite surged 6.8-8.9%. Hindalco, JSW Steel, Sesa Goa, SAIL, NALCO and JSL were up 1-3.6%. Respective Index was up 5.32% or 578.85 points, to 11,457.27.

Technology stocks witnessed buying interest as well; Tech Mahindra shot up 10.28%. Infosys and Wipro were up over 4%. The BSE IT Index rose 3.95% or 118.42 points, to 3,115.97. However, TCS fell 1%.

In the FMCG space, ITC and United Spirits rose 4.61-5%. Respective Index went up 2.76% or 57.97 points, to 2,154.61.

Power stocks also charged up; Suzlon Energy surged 15.98%, as the company revised its payment schedule to Martifer for stake in REpower.

GMR Infra and NTPC were up 6% each. Power Grid Corp, CESC, Torrent Power, Reliance Infrastructure, Tata Power and Reliance Power gained 1-4.9%. The BSE Power Index closed 75.69 points or 2.63% higher at 2,957.05.

In the telecom pack, Reliance Communication and MTNL were up 4-4.9% while Bharti Airtel and Idea Cellular declined over 1.6%.

The BSE Auto Index rose 1.94% or 89.44 points, to settle at 4,700.05, as M&M, Ashok Leyland, Amtek Auto, Hero Honda and Maruti Suzuki were up 1.8-5%. Tata Motors was up 0.37%. Maruti and Hero Honda jumped on good May Auto sales numbers.

Buying was also seen in oil & gas space; Cairn India surged 12.79% on jump in oil prices. Goldman Sachs reiterated Buy on Cairn India with new NAV-based 12-month target price of Rs 290/share (Rs 240 earlier).

Crude July contract was trading at USD 68.06 a barrel, up USD 1.75 or 2.61%% on the NYMEX. BPCL was up 1.37%. Reliance Industries and ONGC were flat. Respective Index went up 81.89 points or 0.79%, to 10,501.36.

Stocks like Suzlon Energy rallied; ABB, Punj Lloyd and Siemens were up 0.7-3%, which helped the Capital Goods Index to close 83.45 points or 0.7% higher at 12,004.84. However, BHEL fell 2.27% and L&T declined 0.56%.

The BSE Healthcare Index closed flat at 3,434.81. However, banking stocks saw selling pressure in trade today; Axis Bank, ICICI Bank and PNB lost 1-5%. HDFC Bank was down 0.65%. The BSE Bankex fell 0.85% or 70.22 points, to 8,188.21.

Total traded turnover stood at Rs 91,474.41 crore. This included Rs 24,841.97 crore from the NSE cash segment, Rs 58,484.39 crore from the NSE F&O and the balance Rs 8,148.05 crore from the BSE cash segment.

The market breadth was strong; about 2335 shares advanced while 569 shares declined on the BSE. Nearly 231 shares remained unchanged.

Among the midcap stocks, Voltas surged 20.43%. Welspun Gujarat, Rei Agro, Rolta and Adlabs Films were up 12-14.6%. In the smallcap space, OCL India and KRBL were up 20% each. Timken, Balaji Telefilm and JSW Holdings gained 16-17.3%.

Global cues
At the time of closing of Indian equities, European markets were trading strong. The FTSE was up 70 points, to 4,487. The CAC rose 75 points, to 3,352 and the DAX gained 163 points at 5,104.

Among the US futures, the Dow Jones futures went up 121 points, to 8,609 and the Nasdaq futures rose 20.75 points, to 1,456.25.

Asian markets saw sharp rally. Hang Seng shot up 3.95% and Shanghai Composite rose 3.36%. Jakarta Composite gained 4.26%. Nikkei went up 1.63% and Straits Times gained 2.19%. Kospi and Taiwan Weighted were up 1.38% and 0.92%.