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The domestic bourses ended the first trading session of the week on a robust note as the Capital Goods and IT space rallied significantly. During the morning trade, the Asian bourses traded higher as South Korea's won and crude oil touched 30-month highs on anticipation that the global economic recovery is strengthening stimulated by takeover activity. Further, the Japanese stocks rallied after the U.S. jobs report showed better than expected figures and a weakening yen boosted optimism in an economic recovery.
Soon after opening in the positive terrain, the benchmark indices started trading rangebound on the higher side. However, post mid-session a sudden surge was witnessed among the domestic bourses amidst strong buying across sectors, especially in the Capital Goods and IT space.
The strong rally followed after the foreign institutional investors purchased significantly during the session. The benchmark Nifty was seen closing above the 5,900 mark for the first time since January 7, 2011. The positive opening for the European bourses had further boosted the sentiment in the domestic front.
In the sectoral front, the Capital Goods and the IT space were the major contributors to the significant rally during today's trade, gaining by 2.38% and 2.18%, respectively. Further, the Auto, Banking and Power sectors also traded strong, advancing by 1.83%, 1.78% and 1.44%, respectively. Both the Nifty and Sensex traded on the positive terrain throughout the session with a strong buying momentum coming in post mid-session.
The positive closing for the overnight US market had boosted the morning sentiment in the domestic arena.
The Dow Jones Industrial Average (DJIA) closed with a gain of 56.99 points or 0.46% at 12,376.72, while NASDAQ index finished higher by 8.53 points or 0.31% to 2,789.6. The S&P 500 (SPX) closed up by 6.58 points or 0.5% to 1,331.41. Among the Sensex pack, 23 stocks ended in positive while 7 stocks ended in the negative terrain. The overall market breadth remained positive, as out of total 2,988 stocks traded on BSE, 2,437 stocks advanced, whereas only 477 stocks declined and 74 stocks remained unchanged.
The BSE Sensex closed at 19,701.73 up by 281.34 points or by 1.45% and NSE Nifty closed at 5908.45, higher by 82.40 points or by 1.41%. The BSE Midcap was at 7,099.69 higher by 116.75 points or by 1.67% and the BSE SmallCap closed at 8,594.69, up by 236.50 points or by 2.83%. The BSE Sensex touched intraday high of 19,729.60 and intraday low of 19,449.36.
The top gainers of the BSE Sensex pack were Mahindra & Mahindra Ltd (Rs. 743.85, 4.75%), Jaiprakash Associates Ltd (Rs. 98.40, 3.25%), Bharat Heavy Electricals Ltd (Rs. 2173.80, 2.84%), HDFC Bank Ltd (Rs. 2398.45, 2.78%) and Tata Consultancy Services Ltd (Rs. 1211.50, 2.70%) among others.
The top losers of the BSE Sensex pack were Reliance Communications Ltd (Rs. 109.15, 2.24%), Hindustan Unilever Ltd (Rs. 279.45, 1.62%), Cipla Ltd (Rs. 315.95, 1.51%), Sterlite Industries (India) Ltd (Rs. 173.10, 0.37%) and Reliance Infrastructure Ltd (Rs. 692.30, 0.30%) among others.
On the economic front, As per the CAG report, fuel and petroleum products has been the provider of 60% of the government's total revenue from excise in 2009-10, where the total collection from the Central Government in excise stood at Rs 1.02 lakh crore in 2009-10.
Besides, the report further classifies the individual contribution of motor spirit, which was 24.12%, refined diesel oil with 22.49%, other mineral oils at 12.16% and furnace oil with 2.38%. During the period, other mineral oils and products collectively provided Rs 12,510.37 crore and furnace oil contributed Rs 2,445.72 crore.
