Among the sectoral indices, it was IT that stole the show with rise of 3.23%; TECk went up by 2.79%, Consumer Durables 2.74% and Bankex increased by 2.31%. All indices saw upward growth, the slowest among all was Capital Goods which went up by only 0.28%.
On the stock side, the biggest gainers among the large cap was Reliance Capital by 5.27% followed by Reliance Power 5.01%. Cairn, TCS and RCom went up by 4.83%, 4.51% and 4.32%.
The stock that fell the most was ONGC -2.76%. This state owned oil company went into tail spin after media reports stated that the company will have to share more part of the oil-subsidy. The stock that slid maximum agter ONGC was BHEL as it was down by 0.60%.
European markets like France's CAC, Germany's DAX and Britain's FTSE gained 1.5-2.5%. The Indian rupee depreciated to 48.23 per dollar during the day. It was trading at 47.93, down 0.1350 from previous closing value.
Fall in rupee brought technology stocks on buyers' radar. The BSE IT Index surged over 3% to 5,200 level as Infosys, TCS and Wipro rallied 3-4%.
European recovery supports further. Sensex up by 247 points
The stock market continued its bull run as the 50 stock index on the NSE, Nifty, went up by 80.70 points or 1.60% to 5,112.65 levels. Meanwhile on the BSE, Sensex was trading at 16,991 with gains of 246.16 points or 1.47%.
Among the sectoral indices the information technology continued as being the best sector as it climbed 2.78% followed by TECk, that was up by 2.35%. The worst performing sector was Capital good with gains of 0.03%.
TCS, Infosys, Wipro and HCL Tech rallied 2.5-3.5%. Tata Motors surged nearly 3% due to rupee depreciation. Other largecaps like NTPC, SBI, HDFC, ICICI Bank and HUL moved up over 1.5%.
ITC, Bharti Airtel and HDFC Bank gained 0.8% each. From metal space, SAIL, Sterlite, JSPL and Tata Steel rose 1-2%.
However, ONGC slid further; the stock lost 3%. BHEL, Maruti and BPCL were down 0.7-1%.
Markets continue to be in the green. Sensex up 197 points
The indices went up as investors look forward at the Federal Open Market Committee (FOMC) meeting in US. Many among the invesment community are of the opinion that the federal reserve will announce another round of quantitative easing (QE3).
With this upmove the stock market recovered most of the losses it had suffered day before.
This upmove was mostly on support from technology for depreciating rupees, along with banking, metal and FMCG sectors.
Nifty was up by 57.30 or 1.14% to 5,089.25; meanwhile Sensex was up by 1.18% or 197 points to 16,942.94 level. In the meantime Indian rupee fell further to Rs 48.22 per dollar.
Among the Nifty stocks, Tata Motors, TCS, wipto and Infosys were top gainers, these stocks went up by 2-3%. ONGC was hit on news report that the goivernment will increase its share of subsidy. The stock was doeb by 2.76%. Meanwhile, BHEL fell 1.38%; Maruti Suzuki, BPCL, and Tata Powers were other losers in trade.
Gravita India, SBI, Infosys, VIP Industries, L&T, Engineers India and Tata Motors were most active shares on exchanges.
The BSE Midcap and Smallcap indices were up 0.55% and 0.77%, respectively. About two shares gained for every share falling on BSE.
Investors upbeat despite weak rupees. Nifty up by 1.26%
The Indian stock market gained reflecting confidence of Indian investors. The BSE benchmark, i.e. Sensex gained 0.87% or 146 points to 16,891. Meanwhile the NSE benchmark, Nifty went up to 5,095 and gained 63.25 points or 1.26%.
Although the Indian currency depreciated to 48.18 per dollar, down 0.38 from previous closing value.
Buyers showed interest in Technology stocks as the Indian currency depreciated. The BSE IT sectoral index was up by by 2.02%.
Reliance Communications, HUL, NTPC and SIL gained in the market. Although, Maruti Suzuki went down after the conflict escalated, as govt pulled out of talks. Negotiations broke down after union leaders arrest.
Approximately 371 shares advanced as against 281 shares declined on NSE. IVRCL fell hard by 6%, on revelation that the company is under CBI enquiry for alleged irregularities found in Tsunami housing project.
On the otherside of the sphere Everonn Education was locked at 5% upper circuit. The company will issue 26 lakh shares to promoter on preferential basis at Rs 528 per share.
Subex rose 5.5% as company is in pact to sell activation biz to NetCracker.
EID Parry gained 1.5% as the company is in share-purchase pact with arm US Nutraceuticals LLC.
Oil India lost 1.5% on rumours that company may face higher subsidy sharing burden.