Volatile Sensex ends up 62pts; Tata Steel surges 8%

The Sensex opened with a positive gap of 134 points at 10,876 on the back of positive cues from the overseas markets. The index soon touched a high of 10,932. However, weakness in select stocks saw the index pare gains and slip into the negative zone to a low of 10,656 - down 276 points from the day's high.

The volatility, thereafter, refused to die down as the index gyrated between zones on alternate bouts of buying and selling. The Sensex finally ended with a gain of 62 points at 10,804. In the process, the index has surged almost 13% (1,236 points) in the last six straight trading days.

The Mid-cap and Small-cap indices today out-performed the Sensex with gains of 1.7% each at 3,358 and 3,768, respectively.

Realty stocks continued to rally for the second straight day. The BSE Realty index surged nearly 5.5% to 2,041.

The BSE Metal index rallied 3.7% to 6,802. The Bankex and the Consumer Durables index were up over 2.5% each at 5,045 and 1,951, respectively. The FMCG index, however, slipped nearly 1.5% to 2,050.

The market breadth was fairly positive - out of 2,650 stocks traded, 1,783 advanced, 789 declined and the rest were unchanged today.

INDEX MOVERS...

Tata Steel and Jaiprakash Associates zoomed around 7.5% each to Rs 261 and Rs 114, respectively.

Reliance Infrastructure and ICICI Bank soared around 5.5% each to Rs 653 and Rs 398, respectively.

DLF surged nearly 5% to Rs 222. Sterlite gained over 3% at Rs 396.

Larsen & Toubro moved up 2.8% to Rs 829. Grasim advanced nearly 2% to Rs 1,593.

...AND THE SHAKERS

Hindustan Unilever and Mahindra & Mahindra plunged over 3% each to Rs 233 and Rs 435, respectively.

Wipro tumbled nearly 3% to Rs 274. ONGC shed 2.5% at Rs 885.

NTPC, BHEL, Maruti and ITC were down over 1% each.

OTHER PROMINENT GAINERS...

Torrent Power zoomed over 25% to Rs 105. Videocon Industries soared 20% to Rs 125. JP Hydropower, JSW Steel, LIC Housing Finance, M&M Financial Services, Indian Hotels, Yes Bank, IRB Infrastructure, Jai Corp, Tulip Telecom and Hindustan Copper rallied 10-15% each.

...AND THE LOSERS

IVRCL Infrastructure and Bharat Forge dropped around 6% each to Rs 145 and Rs 120, respectively. Spice Telecom, Bajaj Auto, RECL, Gujarat Petronet, KSK Energy, Jubilant Organsys, Educomp Solutions, Biocon and Nagarjuna Construction declined 3-4% each.

VALUE & VOLUME TOPPERS

Reliance Industrail Infrastructure topped the value chart with a turnover of Rs 404.30 crore followed by Reliance (Rs 288.55 crore), Reliance Infrastructure (Rs 247.20 crore), ICICI Bank (Rs 237.45 crore) and Reliance Capital (Rs 227.15 crore).

Unitech led the volume chart with trades of around 3.40 crore shares followed by Satyam (2.40 crore), Reliance Natural Resources (2.20 crore), Cals Refineries (2.19 crore) and Suzlon (1.58 crore).