Stock Market Review

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It was a very cheerful day in Indian Stock Market.
Nifty made 30 months high, it reached 5500 mark and sustain above it for the first time since February 5, 2008. Global sentiments were okay but the action in our market was more stock specific and heavyweights saw broad gains. Sectors that saw big buying today were banks, metals and FMCG though realty looked a bit weak. Sensex shut shop at 18454, up 197 points and Nifty at 5540, up 61 points from the previous close. CNX Midcap index was up 1% and BSE Smallcap index was up 0.8%. The market breadth was positive with advances at 801 against declines of 483 on the NSE. Top Nifty gainers were Ambuja Cements, ACC and ICICI Bank while losers included Unitech, ONGC and Tata Power.


A firm trend in Asian markets and expectations of a sustained growth of the Indian economy buoyed up stock prices.


The Sensex, which spurted to 18,475.27, ended at 18,441.34 (provisional) with a gain of 184.22 points or 1.01%.


The Nifty closed at 5537.90, up 58.75 points or 1.07%.


Bank, FMCG, capital goods, metal, cement and healthcare stocks moved higher.