New Delhi: New Delhi: The markets had a good close much better than most of their Asian peers. It opened weak and traded flat for better part of the day but perked up with buying seen in capital good stocks like BHEL and L&T, followed by Reliance group stocks and pharma stocks like Cipla and Ranbaxy.
Midcaps held out their gains giving markets positive breadth. Even the smallcap index closed with gains of over 0.7%. The turnover was high, chunk of it coming from the F&O.
Except for IT and FMCG all the BSE sector indices closed in green. There was lot of action in individual midcaps from metal space like Ispat, real estate stocks like Orbit and brokerage and financial services stock.
L&T came out with fourth quarter results and BHEL which will get ex-bonus shortly were the top gainers. With F&O expiry coming Nifty rollover was 38 per cent, frontliners like Cipla with 51 per cent rollover and Reliance Communication with 45 per cent. Among the active midcaps with over 50% rollover were RNRL, RPL, IFCI.
Sensex closed up 110.32 points at 14508.21, and the Nifty up 36.70 points at 4293.25.
Selective buying was seen in auto, pharma and capital good stocks. IT stocks continue to reel under pressure. The midcaps and smallcap outperform the frontline indices. Stock brokers said firming trends in other Asian markets influenced the trading sentiments to some extent. They said excellent quarterly performance along with a liberal bonus shares issue announced by realty firm Unitech Ltd too positively impacted the trading sentiments.
Major gainers, which gave a push to the Sensex were Larsen and Toubro, BHEL, Tata Steel, Infosys Technologies, ICICI Bank and HDFC Ltd.
Among the top gainers on BSE Midcap were Carborundum up 5.73 per cent, SKF India up 2.61 per cent, BHEL up 2.25 per cent, Ingersoll Rand up 2.20 per cent
Top gainers on the Sensex were Ranbaxy Labs up 2.16 per cent, BHEL up 2.07 per cent and Reliance Comm up 1.52 per cent.
Top losers on the Sensex were Ambuja Cements down 1.08 per cent, HDFC down 0.93 per cent and Satyam down 0.76 per cent.
Top losers on the Nifty were HCL Tech down 2.32 per cent, VSNL down 1.14 per cent and Zee Entertain down 1.13 per cent.
Market cues:
- NSE F&O Open Int up Rs 868 crore (Rs 8.68 billion) to an all time high of Rs 66,770 crore (Rs 667.70 billion)
- FIIs net sell USD 34.9 mn in equity on May 25
- MFs net buy Rs 38.3 crore (Rs 383 million) in equity on May 25
With inputs from moneycontrol.com
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