Sensex surges 273pts on global cues

The Indian bourses ended on a buoyant note tracking firm global cues and on strength in the IT stocks.

The BSE benchmark index opened at 17,118 on firm Asian cues. The Asian stocks rose to their one-month high led by rally in the technology stocks. The Sensex continued to exhibit sideways movement till the noon trades. The markets pared gains initially after the May inflation data which was at 10.16% and on some amount of profit booking in the realty space.

However the European markets also opened in the green and it helped to boost the sentiments in the domestic markets. Major indices like the CAC, DAX and FTSE were up 1.5% each. Buying in the IT, oil&gas and metal stocks helped the Sensex to extend gains.

The Sensex finally ended at 17,338, up 273 points and the Nifty settled at 5,197, up 78 points.

The market breadth was positive, out of 2,966 shares traded, 1,869 advanced and 966 declined on the BSE.

All the sectoral indices barring the healthcare index has ended in the green. The IT index surged 3.5% to 5,351 and the oil&gas index was up 2%, respectively.

Infosys and Wipro soared 4% each to Rs 2,747 and Rs 673, respectively on the BSE IT index.RNRL zoomed 17% to Rs 61 on the oil&gas index. The midcap and the smallcap indices are up 1% each.

INDEX GAINERS...

Reliance Infrastructure and Reliance Communications zoomed 4% each to Rs 1,159 and Rs 179, respectively on the BSE. Metal scrips like Sterlite Industries, Hindalco and Tata Steel gained over 2.5% each.

The other prominent gainers on the Sensex were ITC, Reliance Industries and Larsen & Toubro, up 1.5% each.

...AND THE SHAKERS

Bharti Airtel has slipped 2% to Rs 270. Tata Motors and BHEL were down 0.5% each.

VALUE & VOLUME TOPPERS

RNRL topped the value chart on the BSE with a turnover of Rs 176.60 crore. It was followed by Reliance Capital (Rs 93.95 crore), Tata Steel (Rs 81.40 crore), Reliance (Rs 71.08 crore) and Reliance Infrastructure (Rs 66.06 crore).

RNRL led the volumes chart on the BSE with trades of 30.39 million shares. It was followed by Karuturi Global (27.64 million), HFCL Infotel (19.24 million), Spice jet (12.66 million) and Shree Astavinayak (8.62 million).

Source http://www.business-standard.com/india/news/sensex-surges-273ptsglobal-cues/97847/on