Sensex surges 536 points on oil fall, global cues

Ranbaxy, Tata Steel hammered even as 28 stocks end in green.

Overcoming sustained selling pressure of the past five sessions, the Bombay Stock Exchange (BSE) benchmark Sensex surged on Thursday by over 530 points to regain the 13,000-level with buying activity picking up on strong global cues and easing of crude oil prices.

The 30-share BSE barometer, which has lost nearly 1,350 points in the past five trading sessions, gained 536.05 points at 13,111.85 points. It touched the day's high of 13,150.35 and a low of 12,843.79 points. 
 

Top 5 BSE Sectoral Gainers
Index	Close	% Change*
Bankex	5727.60	6.06
Cap. Goods	10762.01	5.92
Realty	4428.02	4.95
Power	2302.77	4.20
Auto	3535.78	4.16

Market breadth was impressive with 28 stocks out of the 30-scrip Sensex ending in green while two stocks "" Ranbaxy Labs and Tata Steel"" closing in red.

Nifty, the National Stock Exchange (NSE) index, also shot up by 130.50 points at 3,947.20, after hitting a high of 3,968.75 and low of 3,823.15 points.

Marketmen said buying activity picked up following reports of crude oil falling from record high levels and global stock markets surging.

With crude oil prices easing, most refinery stocks, led by Reliance Industries, recorded fresh gains.

Crude for August delivery fell 3 per cent in New York after the US Energy Department showed an unexpected gain in supplies as fuel demand slowed.

Marketmen also credited Thursday's rally to strong global cues. The Dow Jones Industrial Average jumped by 276.74 points and the Nasdaq Composite index rose 69.14 points yesterday, making a positive impact on other world markets.

Barring China, which ended in the red, most of the other Asian indices ended higher by 1-4 per cent on Thursday, while the European markets also resumed firm.

Despite the sentiment improving, metal counters suffered a setback on selling pressure. Small-cap and mid-cap counters, however, attracted buying support.

Among the Sensex pack, HDFC was the biggest gainer at 9.78 per cent, followed by car major Maruti Suzuki at 9.46 per cent and Jaiprakash Associates by 9.19 per cent. Realty major DLF also shot up by 8.44 per cent while SBI was up 7.75 per cent. However, Ranbaxy dipped by 3.93 per cent and Tata Steel by 2.92 per cent.

The broad-based BSE-100 Index also recovered smartly by 233.83 points to 6,814.50 from 6,580.67 previously. The BSE-200 index and the Dollex-200 were quoted higher at 1,593.29 and 619.56 at close compared to their last close of 1,542.41 and 594.98.