Sensex regains 10K, ends up 550pts; Rel Infra soars

The Sensex opened with a significant positive gap of 421 points at 10,209 on the back of rate cut by the Reserve Bank of India (RBI) over the weekend. The RBI on Saturday announced a 100 basis points cut in cash reserve ratio (CRR), a 50 basis points cut in repo rate and also reduced the statutory liquidity ratio (SLR) by 100 basis points.

Some profit-taking in intra-day trades saw the index touch a low of 10,113. The index, however, moved back to higher levels led by solid gains in realty, capital goods and banking stocks. The Sensex touched a high of 10,363, and finally ended with a gain of 550 points at 10,338.

In the process, the index has now surged over 34% (2,641 points) from its recent low (7,697) of 7,697 in just five trading sessions. The Sensex, however, is still down over 51% from its peak (21,207) touched in January.

The BSE Realty and Capital Goods indices rallied over 8% each to 2,142 and 7,592, respectively. The Bankex gained 7.5% at 5,387.

The market breadth was fairly positive with over three advancing stocks for every declining share - out of 2,652 stocks traded, 1,970 advanced, 633 declined and the rest were unchanged today.

BIG MOVERS...

Reliance Infrastructure zoomed over 17% to Rs 535. DLF soared nearly 15% to Rs 253, and Jaiprakash Associates surged 13.3% to Rs 81.

Ranbaxy and SBI rallied around 12% each to Rs 190 and Rs 1,241, respectively.

Tata Motors and Larsen & Toubro moved up around 11% each to Rs 191 and Rs 892, respectively.

...OTHER INDEX MOVERS

ICICI Bank zoomed nearly 8% to Rs 431. NTPC soared 7.5% to Rs 151.

Grasim, Tata Steel, HDFC and Hindustan Unilever surged over 7% each to Rs 1,101, Rs 225, Rs 1,892 and Rs 238, respectively.

Maruti moved up 6.6% to Rs 602. ONGC and Bharti Airtel rallied 6% each to Rs 711 and Rs 688, respectively.

Hindalco and Reliance Communications were up 5.5% each at Rs 63 and Rs 233, respectively.

...AND THE SHAKERS

Satyam slipped 1.5% at Rs 300. Infosys, the only other loser, was marginally down at Rs 1,379.

VALUE & VOLUME TOPPERS

Reliance topped the value chart with a turnover of Rs 295.50 crore followed by HDFC (Rs 178.20 crore), ICICI Bank (Rs 148.25 crore), Reliance Capital (Rs 140.80 crore) and SBI (Rs 133.65 crore).

Reliance Natural Resources led the volume chart with trades of around 2.15 crore shares followed by Suzlon (1.55 crore), Cals Refineries (99.90 lakh), GVK Power (90.15 lakh) and Unitech (88 lakh).