Nifty ends above 8,150; Sensex up over 400 points

The Sensex provisionally ended higher by 416 points at 27,127 and the Nifty gained 130 points at 8,159

Markets have broken 5-day losing streak and have ended strong led by firm global cues and significant buying among banks, capital goods and metal shares.

The 30-share Sensex provisionally ended higher by 416 points at 27,127 and the 50-share Nifty gained 130 points at 8,159.


***********************************

Updated at 14:40

Markets extended gains in noon trades, on broad based buying, backed up by a global rally after Federal Reserve promised to be 'patient' in removing policy stimulus.  At 1440 hrs, the Sensex was up 418 points at 27,127 and the Nifty advanced 126 points to trade at 8,156.

Broader markets surged with the mid and smallcap indices up 3% each, outperforming the BSE benchmark index which was up 1.6%.

Adding to the optimism was the recovery seen in the Indian Rupee. The Rupee was quoting at 63.18, up 43 paise from yesterday’s close.

Sectors & Stocks

All the sectoral indices were in the green with gains of atleast 0.8%. The big movers among the sectoral indices were Consumer Durables, Power, Auto, Bankex, Capital Goods, Metal and Realty indices up 2-5%.

BHEL, Hindalco, NTPC, GAIL, Tata Power, Maruti Suzuki and ICICI Bank up 3.5-5% were the top gainers among Sensex-30.

However, Dr Reddys and HUL bucked the lager market trend and were in red down 0.5% and 0.1% respectively.

Shares of sugar companies were in focus after the government ratified the methodology used for fixing the export subsidy on raw sugar during April-September period of the 2013-14 marketing year.

The shares of Simbhaoli Sugars were up over 5%.  Balrampur Chini and Bajaj Hindusthan posted a 3% and 5% rise while Shree Renuka Sugars jumped 4.5%.

The market breadth was very positive on BSE. 2,083 stocks advanced while 670 stocks declined.