Markets see a secular rally

The markets have rallied across the board, with all the benchmark indices gaining in the region of half a percent each and every sectoral index on the BSE trading in the green. The Sensex is quoting at 17537, higher by 95 points and the Nifty is at 5263, up 27 points. The midcap index is at 7175, higher by 36 points and the smallcap index is at 9189, up 56 points.

The leading gainers on the Sensex are TCS (strengthened by 1.8% at Rs 753), Jindal Street (added 1.4% at Rs 625) and M&M (up 1.3% at Rs 618). And index heavyweight RIL has added 0.4% at Rs 1072.

In the BSE midcap space, Geekay Finance has strengthened by 4.9% at Rs 25, IOB has added 4.8% at Rs 107. Thermax, Bombay Dyeing and Thomas Cook have added between 3% and 4% each.

The smallcap space has seen the likes of Swaraj Engines soaring by 10% at Rs 450, Delta Corp zomming by 9% a Rs 37, and Swaraj Mazda and TTK Prestige adding between 8% and 9% each at Rs 343 and Rs 874 respectively.

Among the major Sensex losers, RCom has weakened by 1.6% at Rs 182, Hero Honda has shed 0.8% at Rs 2005 and Jaiprakash Associates has lost 0.7% at Rs 125.

The market breadth is positive. Out of 2780 stocks traded on the BSE, there are 1625 advancing stocks as against 1048 declines.