RTTNews - Strong overseas cues following surprisingly good U.S. home sales data and reassuring comments from the U.S. Federal Reserve helped the Indian market rally further on Monday. The rally was led by realty, consumer durable, FMCG, capital goods and metal stocks.
After a gap-up opening at 15,363, the benchmark BSE Sensex rose to a high of 15,676 before finishing at 15,629, up 388 points or 2.55% from its previous close. The S&P CNX Nifty climbed 114 points or 2.52% to 4,643, the BSE mid-cap index rose 2.61% and the small-cap index added 2.83%. The market breadth on the BSE was extremely positive, with 2044 gainers versus 715 losers.
Among the top gainers, Tata Motors and Jaiprakash Associates surged up around 6% each, ITC, Larsen & Toubro and Hindalco Industries advanced more than 4% each, Sterlite Industries rallied 3.95%, HDFC gained 3.49%, Maruti Suzuki added 3.33% and Reliance Communication rose 3.24%.
Hindustan Unilever, DLF, Tata Steel, ICICI Bank, Hero Honda Motors, Reliance Infrastructure, Wipro, Reliance Industries and Infosys were the other prominent gainers. All 30 Sensex stocks ended on a positive note.
Petronet LNG rose 1.81% on reports it would expand its Dahej Unit capacity to 15 million tonnes by 2012. Ranbaxy Laboratories advanced 3.05% after receiving final approval from the U.S. FDA to make and market Glycopyrolate tablets.
Larsen & Toubro rallied 4.52% on bagging four orders worth Rs 1,044 crore from Qatar, Oman and the United Arab Emirates. Punj Lloyd jumped 5.29% after it bagged an order worth Rs 167.51 crore from Gail India for a pipeline project.
Fortis Healthcare surged up 6.57% after it received board approval to buy 10 hospitals for Rs 909 crore from Wockhardt Hospitals. IVRCL Infrastructure soared 7.39% on securing new contracts worth Rs 598 crore for transportation, water, and power projects in various states.
Deccan Chronicle Holdings gained 3.54% on the back of a 20% increase in advertisement tariff across all its editions of Deccan Chronicle. Tech Mahindra added 3.22% on reports it has bagged the majority portion of a Rs.1500 crore telecom IT outsourcing contract from Etisalat DB Telecom India.
Hindustan Copper hit the 5% upper circuit limit despite reporting a 95.58 per cent decline in its net profit to Rs 3.77 crore for the fourth quarter ended March 31, 2009 over the same period last year.
LIC Housing Finance rose 1.77% amid reports that it will finalize a partner for its real estate venture capital fund by the end of this month. Canara Bank gained 2.39% on raising Rs.600 crore by way of a bonds issue.
Federal Bank rose 1.17% and India Infoline jumped 5.47% on the back of execution of block deals on the stock exchanges. BGR Energy Systems surged up 10.50% after it received a Rs 27 crore order from Nuclear Power Corporation of India to set-up a control centre at the Kalpakkan nuclear power plant.
Elsewhere, rising commodities prices and improving confidence that the U.S. economy is on the verge of recovery, helped Asian and European stocks post solid gains and U.S. stock futures point towards a stronger start on Wall Street Monday morning
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