Sensex surges for the seventh straight session

The Sensex has gained 1000 points in the last seven trading day.

Late buying in capital goods and energy scrips helped the Sensex to shed its sluggishness and gain momentum towards the end today.

The Sensex opened on a flat note at 17,490 tracking subdued global cues. Alternate bouts of buying and selling was seen on the frontline sectors as a result the index kept gyrating zones. The index slipped into the red to a touch a low of 17,394 owing to selling pressure witnessed in the banking stocks on fears of rate hike.

The Sensex however rebounded into the green on the back of late buying in capital goods and energy stocks. The Sensex finally settled with gains of 153 points at 17,616 The Nifty ended at 5,274, up 41 points.  In this process the Sensex has ended in the green for the seventh straight day in a row.

The market breadth was positive, out of 2,951 shares traded, 1,504 advanced and 1,308 declined on the BSE.

The BSE midcap and the smallcap indices are up 0.5% each.

All the sectoral indices,barring the consumer durables index ended in the green. The capital goods soared 2% to 14,462 and oil & gas index ended 1% higher.

Lakshmi Machine Works rallied 12% to Rs 2,011 and Larsen & Toubro ended at Rs 1,775, up 3%, respectively on the capital goods index. Aban Offshore and Gail India advanced 3% each to Rs 730 and Rs 474, repectively on the oil&gas index.

INDEX GAINERS...

Larsen & Toubro and Tata Motors added 3% each at Rs 1,775 and Rs 800, respectively. The other major gainers are Jaiprakash Associates, Reliance Communications, Jindal Steel and DLF, up over 2% each on the BSE.

The other prominent gainers are ONGC, Reliance Infrastructure and Reliance Industries, up 1-2% each.

...AND THE LOSERS

Hero Honda and HUL are down 1% each at Rs 1,984 and Rs 252, respectively on the BSE. The other losers are Tata Steel and SBI, down 0.5% each.

VALUE & VOLUMES TOPPERS...

ICICI Bank topped the value chart on BSE with a turnover of Rs 217.85 crore, followed by Reliance (Rs 140.06 cr), Sesa Goa (Rs 118.94 cr), Reliance Communications (Rs 116.31 cr) and RNRL (Rs 108.09 cr).