At 12:01 hours IST - the 50-share NSE Nifty surged further and started trading above 5450 on support from heavyweights. Financial, oil & gas, FMCG, realty, select metal and technology companies' shares were helping the Sensex to gain nearly 150 points.
Asian markets also gained further; Shanghai was up 0.9% and Nikkei up 0.4%. Kospi was up 1.4%, Taiwan up 0.8% and Straits Times rose 0.7%.
However, the sell-off continued in Sterlite Industries (down over 3% post confirmation that Vedanta Resources is in talks to buy assets or stake in Cairn Energy PLC), Reliance Communications (ahead of numbers today), Tata Motors (profit booking after rallied in last four days), M&M, Ranbaxy Labs, Infosys, Idea, Ambuja Cements and Siemens.
The Sensex was trading at 18219, up 145 points and the Nifty was at 5464, up 48 points. Even the broader indices inched up further; gained 1% each.
Heavyweight Reliance Industries gained 1.8% and even Cairn India up 1.8%. ONGC, BPCL and GAIL went up 0.7-1%.
In financial space, SBI rallied 2.5% after strong set of numbers in Q1, showed jump of 25% in net profit; stock shot up 7% yesterday. ICICI Bank, IDFC and Kotak Mahindra Bank were up 1.8-2.4%. Axis Bank, HDFC, HDFC Bank and PNB moved up 0.8% each.
Raymond, Bombay Dyeing, SBI, Patni Computer and Reliance Industries were the most active shares on exchanges.
Patni rallied 8%, as the company announced special dividend of Rs 63/share. Patni had cash of around Rs 167/share on books. Patni Promoter holding is at 46.2% and they will get Rs 378 crore via special dividend.
In the midcap space, Bombay Dyeing, Info Edge, Indian Bank and Jai Corp were up 5.5-10% while Essar Shipping, KGN Industries, Edelweiss Capital, Dalmia Cement and Whirlpool lost 2-7.4%.
In the smallcap space, Raymond shot up 19.99%. Minda Inds, Aqua Logistics, Nirlon and Lok Housing went up 10-15.5% while Ramsarup Inds fell 15.8%. Talwalkars Fitness, REI Six Ten, Ankur Drugs and Rico Auto slipped 5-6.5%.
http://www.moneycontrol.com/news/local-markets/nifty-surges-further-oilgas-financials-lead_477814.html
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