It was a good session for the benchmark indices, after three days of lacklustre sessions. The Nifty held above 2800 mark throughout the day, mainly led by heavyweights from sectors like oil & gas, banking, technology, telecom, power, cement and metal. This small rally may be ahead of likely US second stimulus package, which will be announced by Geithner (new US Treasury secretary), due to which Asian markets ended on a strong note.Reliance Industries, ONGC, Bharti Airtel, SBI, ICICI Bank, NTPC, SAIL, TCS, Infosys, BHEl and HDFC were leading contributors in today's rally. Shipping and realty stocks were also buzzing. Midcap and small cap stocks followed the same trend as well. All sectoral indices ended in green.
The 30-share BSE Sensex has touched an intraday high of 9,321.38, before ending at 9,300.86, up 209.98 points or 2.31% over previous close. The 50-share NSE Nifty closed at 2843.10, up 2.27% or 63.05 points, after hitting a high of 2852.50.
Major support was seen mainly from oil & gas exploration companies; Reliance Industries gained 4.41%. Cairn India and ONGC rose 2.4-2.7%. Oil marketing companies like IOC, BPCL and HPCL went up 0.6-1.3%. The index of BSE Oil & Gas also outperformed other indices, rose 200.30 points or 3.27%, to 6,333.86.
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