Sensex gains 107 points; Auto, Metal shine

MUMBAI (Makemystocks): Indian bourses opened flat amid mixed global cues. Indices soon dragged in negative territory led by IT and Financial stocks. On the other hand Auto stocks remained strong in opening session.

Markets made low in afternoon session. However, indices recovered all the losses tracking strong European cues. European markets opened positive and extended gain which led strong buying in local markets. Markets closed near day high back of firm buying in closing session.

Markets breadth remained positive on broad base buying. Midcap and Smallcap indices closed with gain of 1.1% and 1.7% respectively while benchmark indices closed with gain over half percent.

BSE Sensex closed at 17300.58 with the gain of 107.03 points and at NSE Nifty closed at 5235.70 with the gain of 36.45 points at the end of the day. BSE MIDCAP index closed at 5937.19 with the gain of 65.49 points and BSE SMALLCAP index closed at 6573.58 with the gain of 110.28 points.

In percentage terms key gainers were Jindal Steel & Power Ltd (NSE: JINDALSTEL), Tata Power Company Ltd (NSE: TATAPOWER) and Hindalco Industries Ltd (NSE: HINDALCO) while key losers were Coal India Ltd (NSE: COALINDIA), Bharat Petroleum Corporation Ltd (NSE: BPCL) and ICICI Bank Ltd (NSE: ICICIBANK).

On sectoral front almost all the sectoral indices closed in green barring IT and FMCG sector closed marginally in red. Major buying was seen in Metal, Capital Goods, Auto, Realty and Oil & Gas sectors. Market breadth on BSE remained positive were 1864 advances against 995 declines stocks.

From the perspective of weight in Nifty key gainers were Reliance Industries Ltd (NSE: RELIANCE), Larsen & Toubro Ltd (NSE: LT) and Tata Steel Ltd (NSE: TATASTEEL) while key losers were ICICI Bank Ltd (NSE: ICICIBANK), ITC Ltd (NSE: ITC) and Housing Development Finance Corporation Ltd (NSE: HDFC).

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