Sensex bounces back, ends up 703pts

Renewed buying interest at lower levels helped the index recoup losses and rebound into the positive zone. Aggressive short covering, mainly in financials and realy stocks, saw the Sensex rally to a high of 13,712 - up 889 points from the day's low.

The Sensex finally ended with a smart gain of 703 points at 13,665. The index had dropped 1,460 points in the last three trading days.

The market breadth turned positive towards the close - out of 2,737 stocks traded, 1,586 advanced, 1,094 declined and 57 were unchanged today.

The Nifty surged 197 points to end at 4,093.

INDEX MOVERS...

DLF skyrocketted 15% to Rs 424 after the company announced plans for buy-back of equity shares.

Reliance Infrastructure zoomed 12.6% to Rs 791. HDFC soared over 11% to Rs 2,039.

ONGC surged over 8% to Rs 854. Larsen & Toubro gained 7.3% at Rs 2,297.

Satyam and Jaiprakash Associates rallied 7% each to Rs 463 and Rs 145, respectively.

Mahindra & Mahindra and Infosys advanced 6.5% each to Rs 469 and Rs 1,821, respectively.

Tata Steel and Hindalco moved up over 6% each to Rs 741 and Rs 142, respectively.

Wipro, ICICI Bank, HDFC Bank and Reliance Communications were up 5.7% each at Rs 440, Rs 623, Rs 1,021 and Rs 418, respectively.

SBI, Bharti Airtel and BHEL, also, moved up over 5% each to Rs 1,079, Rs 744 and Rs 1,426, respectively.

Reliance gained 4.8% at Rs 2,143. Ambuja Cements, TCS, NTPC, Cipla and Ranbaxy were the other major gainers.

...AND THE SHAKERS

ITC slipped over 2% to Rs 180. ACC down 0.7% at Rs 502 was the only other loser among the index stocks.

VALUE & VOLUME TOPPERS

Reliance topped the value chart with a turnover of Rs 470.30 crore followed by Reliance Capital (Rs 457 crore), Reliance Petroleum (Rs 350 crore), Reliance Infrastructure (Rs 230 crore) and Reliance Natural Resources (Rs 198.40 crore).

Reliance Natural Resources led the volume chart with trades of around 3.33 crore shares followed by IFCI (2.59 crore), Reliance Petroleum (2.10 crore), Ispat Industries (1.83 crore) and Chambal Fertilisers (1.59 crore).