Nifty ends strong for 3rd consecutive day, surges 259 pts

The benchmark Nifty closed strong for the third consecutive day on the back of short covering and positive global cues. The index rallied 259 points in three days and closed above the 5050 level while for the week it gained just 134 points. The most beaten down sectors like metal and realty gained 3.5-4% today.
European markets were trading 0.4-0.8% higher and the US index futures gained just 0.2% each, at the time of closing of Indian equities. Asian markets ended 0.7-1.7% higher barring Shanghai, which was flat. The US markets rallied 3-3.7% on Thursday after a denial by China about possible reviews of European debt holdings.
Keshav Sanghi, MD and Head of Equities of Citigroup was positive on India while he looked cautious about Europe. He explains that markets are far from clarity on the EU and there is anxiety amongst investors. Money is flowing out of Europe into the emerging markets. He says that India is expected to see USD 50-75 bn fund flow in five years.
He adds that macro data indicates appreciation for Indian markets as it seems relatively safer. Confidence in the Indian markets is likely to be higher in six months. India is going to benefit from the slide in oil and commodity prices, he adds further.
The time to go short on India is over, says an optimistic Arvind Sanger of Geosphere Capital. “At this point, India along with other global emerging markets looks like it’s poised to rebound from recent sell-off provided there's no other negative news coming out of Europe.”
The 30-share BSE Sensex closed at 16,863.06, up 196.66 points or 1.18% and the 50-share NSE Nifty rose 63.45 points or 1.27% to settle at 5,066.55. The BSE Midcap Index was up 1.65% and the Smallcap was up 1.4%.
Sterlite Industries and Jindal Steel from metal pack shot up 5-5.9%. SAIL rose 3.5%. Tata Steel and Hindalco gained 0.9-1.7%.
Reliance Industries and Cairn India from oil & gas space rose over 1.4%. ONGC was up just 0.8% ahead of its results. However, BPCL and GAIL declined 0.85-1.6%.
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Technology stocks also saw buying interest. Infosys, TCS, Wipro and HCL Tech went up 1-1.9%.
DLF and Unitech from realty segment surged 3.5% and 2.9%, respectively. Reliance Communications was the top gainer on the Nifty, surged 5.89%. Idea Cellular from telecom pack rose 1.5% while Bharti was flat.
ITC from FMCG space moved up 2.65% and HUL was up 1.44%.
SBI, ICICI Bank and HDFC from financial pack went up 0.9% each. Axis Bank gained 0.8% while HDFC Bank, PNB and IDFC were flat.
In the power pack, Suzlon Energy rallied 5%. NTPC, Power Grid, Reliance Power and Tata Power were up 1-2%.
Tata Motors and Hero Honda from auto space gained 1% each. M&M moved up 3.3% while Maruti slipped 1%.
Ranbaxy from healthcare segment surged 3% and Cipla rose 1% while Sun Pharma fell 0.2%.
BHEL, ABB and Siemens from capital goods space went up 0.75-1.8% while L&T was in the red.
Advances outnumbered declines; about 1989 shares advanced while 949 shares declined on the BSE. Nearly 360 shares remained unchanged.
Top percentage gainers - Oudh Sugar Mills, Store One, DCM, Saksoft and De Nora India rallied 19-20%.
In the midcap space, Parsvnath, Shree Renuka, Fresenius Kabi (post results), Pipavav Shipyard and Apollo Tyres gained 7-11% while Hindustan National Glass, Shree Global, Rajesh Exports, Info Edge and GSFC fell 2.8-5.8%.
In the smallcap space, Sakthi Sugars, Andhra Cement, Gallantt Metal, Henkel India and Dhampur Sugar went up 9-15% while Goodyear, Indo Rama Synth, Kanani Industries, Bilcare and Sundaram-Clayton lost 4-9%.
The markets reported total turnover of Rs 85,518.63 crore. This included Rs 12,963.28 crore from the NSE cash segment, Rs 68,591.35 crore from the NSE F&O and the balance Rs 3,964 crore from the BSE cash segment.
_PAGEBREAK_Sensex rallies 200 pts; metals, realty surge
At 14:37 hours IST, the benchmark indices strengthened again after some consolidation with positive bias. Metal and realty rallied 4% each. Among the others, FMCG, Auto and Power indices gained 1-1.8%. European markets also moved up further and gained 0.4-0.6% after flat trade since opening.
Heavyweights like Reliance Industries, ONGC, NTPC, SBI, TCS, ICICI Bank and BHEL were quite supportive today, gained 1-1.5%.
The Sensex was trading at 16867, up 200 points and the Nifty was at 5067, up 64 points. However, the Nifty June future was trading with 20 points discount.
The broader indices continued to outperform the benchmark indices; the BSE Midcap Index was up 1.6% and the Smallcap was up 1.5%.
The market breadth was positive; about 2005 shares advanced while 903 shares declined on the BSE. Nearly 390 shares were unchanged.
Top gainers - Sterlite Industries was trading at Rs 685.10, up 6.37%; Suzlon Energy was at Rs 61.15, up 5.25%; Jindal Steel was at Rs 653.85, up 5.08%; SAIL was at Rs 206.45, up 3.82%; DLF was at Rs 280.50, up 3.70%; M&M was at Rs 546.55, up 3.38% and Reliance Communications was at Rs 143.60, up 3.16%.
Top percentage gainers - DCM and Saksoft were locked at 20% upper circuit. DandH Welding, Gujarat Capital Venture, Andhra Cement, Store One, Accel Frontline and Oudh Sugar Mills were up 16-19.7%.
In the midcap space, Parsvnath, Shree Renuka, Pipavav, Pantaloon Retail and Indian Hotels went up 6-9% while Hindustan National Glass, Rajesh Exports, GSFC, Info Edge and Fortis Health lost 3-5%.
In the smallcap space, Sakthi Sugars, Gallantt Metal, Sudarshan Chemical and Ahmednagar Forging rallied 8-12%. However, Goodyear, aurionPro Solution, Indo Rama Synth, Shristi Infra and Subhkam Capital fell 5-9%.
Nifty firm; Amtek India, Sesa Goa, Tata Steel most active
At 13.10 hrs IST, the Nifty was hovering around 5050 mark with positive bias. It was trading in a narrow band of 5020-5050 for last couple of hours. European markets opened on a flat note.
Buying was seen in metal, realty, consumer durables, FMCG and auto stocks. All BSE sectoral indices were trading in green. BSE Midcap and Smallcap index were up more than 1% each.
The Sensex was up 115.22 points or 0.69% at 16781.62, and the Nifty up 33.15 points or 0.66% at 5036.25. About 1968 shares advanced, 922 shares declined, and 407 shares were unchanged.
Amtek India, Sesa Goa, Tata Steel, Tata Motors, SBI, Reliance Industries and ICICI Bank were the most active shares on bourses.
Amtek Auto bought majority stake in Amtek India; both stocks gained over 4%.
In the largecap space, Jindal Steel, Sterlite Industries, Suzlon Energy, SAIL and Mahindra and Mahindra were up 2-4%. On the losing side, BPCL, Maruti Suzuki, IDFC, Reliance Infra and GAIL were down 0.6-1.4%.
Index heavyweight Reliance was trading at Rs 1,027.10 up 0.51% from its previous close of Rs 1,021.85. Tech major Infosys was trading at Rs 2,654.10 up 0.4% from its previous close of Rs 2,643.45. Refinery major HPCL was trading at Rs 357.15 up 1.64% from its previous close of Rs 351.40
Cigarette major ITC was trading at Rs 279.05 up 1.42% from its previous close of Rs 275.15. Hindustan Lever was trading at Rs 233.35 up 0.26% from its previous close of Rs 232.75.
Top gainers on the BSE Midcap: Pipavav Shipyard, Pantaloon Retail, Shree Renuka, IBN18 Broadcast and Indian Hotels were up 4.6-9.1%.
Top losers on the BSE Midcap: Hind Nat Glass, Fortis Healthcare, Rajesh Exports, Tata Chemicals and Den Networks were down 2.7-5.1%.
Top gainers on the BSE Smallcap: Sakthi Sugars, Gallantt Metal, Sudarshan Chemicals, Orient Paper and Shoppers Stop were up 8-11%.
Top losers on the BSE Smallcap: GeeCee Ventures, Thiru Arooran, Indo Rama Synthetics, Kanani Industries and Simplex Project were down 4-9%.
Nifty rangebound with positive bias; Sterlite top gainer
At 11:41 hours IST - the 50-share NSE Nifty was trading in positive terrain for third consecutive day following good global cues. However, the indices came off a bit from their highs today due to profit booking at higher levels. It seemed like they were consolidating after sharp rally in last two days.
Asian markets were trading 0.7-1.7% higher while only Shanghai slipped 0.4%.
The 30-share BSE Sensex was trading at 16774, up 108 points and the Nifty was at 5034, up 31 points. However, the Nifty June future was trading with 22 points discount.
The BSE Metal and Realty indices gained 2.6-3%. SAIL, Sterlite Industries, Jindal Steel, Tata Steel and Hindalco from metal segment were up 1.5-4%.
ITC from FMCG space gained 2% and HUL was up 0.6%. ONGC and Cairn India from oil & gas exploration pack rose 1.5% each and Reliance Industries went up 0.6%. RIL has made 5th oil discovery in block CB-ONN-2003/1.
DLF and Unitech from realty segment went up 2% each. Reliance Communications and Idea Cellular from telecom pack moved up 1.2-1.7%; and Bharti Airtel was up just 0.4%.
Suzlon Energy from power space rose nearly 4%. Tata Power, Power Grid and NTPC gained 0.9-1.4%.
ACC from cement pack went up 1.5% and Ambuja Cements up 0.6%.
However, ICICI Bank, Maruti, BPCL, L&T, GAIL, IDFC and Reliance Infrastructure were the only losers.
About 2005 shares advanced while 853 shares declined on the BSE. Nearly 439 shares were unchanged.
Sensex northbound; realty, metals, FMCG gain
At 10:22 hours IST, the benchmark Sensex was still trading with more than 100 points gains, though it wiped out some gains from its early highs. Buying interest was seen in oil & gas exploration, realty, metal, FMCG, cement, telecom and select power companies' shares.
However, TCS, Maruti, BPCL, L&T, GAIL, IDFC and Sun Pharma were under pressure. Other stocks came off their early highs.
Asian markets were quite supportive. Hang Seng was up 1.77%. Nikkei and Taiwan gained over 1%. Shanghai, Jakarta and Kospi went up 0.5-0.7%.
The Sensex was trading 16798, up 132 points and the Nifty was at 5041, up 38 points. The Nifty June future was trading with 22 points discount.
The time to go short on India is over, says an optimistic Arvind Sanger of Geosphere Capital. “At this point, India along with other global emerging markets looks like it’s poised to rebound from recent sell off provided there's no other negative news coming out of Europe.”
Further, commenting on India’s growth prospects, he says that the markets are well positioned and will move higher.
The broader indices were outperforming the benchmark indices; up 1.5% each. About 2127 shares advanced while 712 shares declined on the BSE. Nearly 458 shares were unchanged.
Top gainers - Sterlite Industries was trading at Rs 669.95, up 3.90%; Jindal Steel was at Rs 644.65, up 3.41%; DLF was at Rs 278, up 2.75%; Hindalco was at Rs 152, up 2.43%; Tata Steel was at Rs 503.75, up 2.18%; Suzlon Energy was at Rs 60.40, up 3.96% and Unitech was at Rs 73.70, up 3.15%.
In the midcap space, HCC, Core Projects, Omaxe, Patel Engg and Shree Renuka were up 4.7-5.5% while Hindustan National Glass, Godrej Consumer, Info Edge, REI Six Ten and Fortis Health lost 1.7-3%.
In the smallcap space, Gallantt Metal surged 14.68%. Vinati Organics, Jayaswal Neco, Himadri Chemical and MIC Electronics gained 5-6.5%. However, Fem Care Pharma, Kanani Industries, Indo Rama Synth, Simplex Project and Asian Star declined 3.6-5.7%.
Nifty tests 5050 on global cues; Hindalco top gainer
The benchmark Nifty started the day on a positive note and continued the short covering rally for third consecutive day. The index crossed 5050 level as well today. Positive global cues after a denial by China about possible reviews of European debt holdings helped the markets.
At 9:02 hours IST, the Nifty was trading at 5055, up 52 points and the Sensex was at 16849, up 183 points. 
The CNX Midcap Index rose 108 points to 7658. About 674 shares advanced while 63 shares declined on the NSE.
Among frontliners, Hindalco was up 3% on Novelis numbers. Tata Motors jumped 3% post numbers.
Cairn India, Idea Cellular, Tata Steel (above Rs 500), Sterlite Industries, M&M, Unitech, SAIL, Jaiprakash Associates, Suzlon, ICICI Bank, ABB and Ambuja Cements were witnessing buying interest.
Midcap & Smallcap space:
Areva T&D rose 7%, as it made open offer at Rs 295/share.
S Kumars Nationwide was up 4%.
Sesa Goa shot up 5%. Orchid Chemical gained 7% post numbers.
Kingfisher Airlines, Gujarat NRE Coke and RCF were up 3.4-4%.
Amtek India rose 4%; 1.63 crore shares of the company changed hands on BSE at Rs 64.95/share.
Aban Offshore, Hanung Toys, TVS Motors and HCC went up 3-4%.
However, Fortis Healthcare lost 1%.
Global cues:
Asian markets were positive in trade. Hang Seng and Nikkei gained 1.7% each. Shanghai, Straits Times, Kospi, Taiwan and Jakarta went up 0.5-0.9%.
The US markets surged after a denial by China about possible reviews of European debt holdings. Euro gained 1.5%.
The Dow Jones Industrial Average gained 285 points at 10259. The Nasdaq Composite surged 82 points at 2278 and S&P 500 was up 35 points at 1103 (200 DMA at 1105).
Commodities
CRB Commodity Index rose 1.9%, best percentage gain in almost 2 months.
CRB Index gained more than 3.5% in past two sessions.
Crude oil surged 4.2% at USD 74.5/bbl, gained around 8% during past two sessions.
Natural gas futures rose 2.7% at USD 4.29 per MMBtu.
Gold was down 0.2% at USD 1211.5/ounce.
Silver went up 0.8% at USD 18.46/ounce.
LME Index, a measure of six metals, gained 3% yesterday.
Market cues:
As per provisional data of May 27, FIIs were net sellers of Rs 533 crore; DIIs were net buyers of Rs 410 crore in cash markets. FIIs were net buyers of Rs 610 crore in F&O.
F&O cues:
Nifty Open Int PCR at 1.22 versus 1.15
Nifty 5100 Call adds 12.4 lakh shares in Open Int
Nifty 5200 Call adds 10.7 lakh shares in Open Int
Nifty 4800 Put adds 9.7 lakh shares in Open Int
Nifty 4900 Put adds 7.9 lakh shares in Open Int
Nifty 5000 Call adds 5.8 lakh shares in Open Int