Third consecutive gain on Dalal Street, Sensex jumps 131 points

MUMBAI (Makemystocks): Indian bourses opened gap up amid strong global cues. Indices witnessed gain led by Metal, Capital Goods and IT stocks. However, markets lost strength after Supreme Court's verdict on 2G case. Supreme Court order cancelling all 122 licence issued after 2008.

Markets erased all the gain soon after Supreme Court's order. Market stabilized in afternoon session. Indices remained range bound in afternoon session. Stock specific activity was seen rest of the day. IT stocks witnessed buying while Pharma stock witnessed selling pressure in afternoon session.

Markets breadth remained positive. Both Midcap and Smallcap stocks closed with gain of 0.5% each. Benchmark indices continued its rally with gain over half percent.

BSE Sensex closed at 17431.85 with the gain of 131.27 points and at NSE Nifty closed at 5269.90 with the gain of 34.20 points at the end of the day. BSE MIDCAP index closed at 5969.76 with the gain of 32.57 points and BSE SMALLCAP index closed at 6608.97 with the gain of 35.39 points.

In percentage terms key gainers were Bharti Airtel Ltd (NSE: BHARTIARTL), HCL Technologies Ltd (NSE:HCLTECH) and Sesa Goa Ltd (NSE: SESAGOA) while key losers were Industrial Development Finance Company Ltd (NSE:IDFC), Reliance Communications Ltd (NSE: RCOM) and Dr. Reddy's Laboratories Ltd (NSE:DRREDDY).

On sectoral front almost all the sectoral indices closed in green barring Pharma and FMCG sector closed marginally in red. Major buying was seen in IT, Metal, Capital Goods and Realty sectors. Market breadth on BSE remained positive were 1560 advances against 1315 declines stocks.

From the perspective of weight in Nifty key gainers were Bharti Airtel Ltd (NSE: BHARTIARTL), ICICI Bank Ltd (NSE: ICICIBANK) and Tata Consultancy Services Ltd (NSE: TCS) while key losers were ITC Ltd (NSE: ITC), Industrial Development Finance Company Ltd (NSE:IDFC) and Dr. Reddy's Laboratories Ltd (NSE:DRREDDY).

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