Market ends on a new high; outperforms Asia

Mumbai: The markets ended on a new high outperforming most of its Asian peers. Asian markets closed in red and even Europe was trading weak after the Fed cut rates by 25 bps disappointing analyst who were expecting a 50 bps cut. Midcap and smallcaps were the star performers.

Both the BSE midcap index and smallcap index were up nearly 1.6% and 1.8% respectively. Nifty ended up 50 points gaining 140 points from the day's low and Sensex was up around 40 points rallying 285 points from the day's low.

On the macroeconomic front, industrial growth growth came in at 11.8% versus 4.5%, YoY, slightly ahead of expectation of 11%.

Pharma, oil & gas, metal and realty stocks were trading higher. However, select bank, IT and capital goods were under pressure.

IT index was down over 2%, Infosys , Satyam and Wipro were among the top losers.

Sensex closed up 84.98 points or 0.42% at 20375.87, and the Nifty up 62.05 points or 1.02% at 6159.30.

About 2251 shares have advanced, 792 shares declined, and 46 shares are unchanged.

The BSE Midcap Index ended at 9,339.49 up 1.7%.

The BSE Smallcap Index ended at 11,884.99 up 1.9%.

The BSE Bankex was down 0.6% at 11,712.12. ICICI Bank, IOB, Centurion Bank, Kotak Mahindra, Oriental Bank closed in red.

The BSE Capital Goods Index closed flat at 20,308.27. Praj Industries, Triveni Engg, Punj Lloyd, Kirloskar Oil, Reliance Infra closed higher.

The BSE Auto Index closed at 5,770.02 up 0.2%. Amtek Auto, Tube Investment, TVS Motor, Ashok Leyland closed higher.

The BSE Metal Index closed at 19,629.07 up 3%. Jindal Saw, NALCO, Mah Seamless, Jindal Steel, SAIL closed higher.

The BSE FMCG Index closed up 1% at 2,189.52. Tata Tea, Bata India, United Brewerie, P and G ended higher.

BSE Oil and Gas Index closed at 13,152.02 up 1.4%. IOC, Reliance Natura, Essar Oil, GAIL, ONGC ended higher.

The BSE IT Index was at 4,353.59 down 2%. Infosys, Satyam, Patni, Iflex closed lower.

The NSE cash turnover was at Rs 18706.12 crore and the NSE F&O turnover was at Rs 59421.97 crore. The BSE cash turnover was Rs 8193.36 crore. Total market wide turnover was at Rs 86321.45 crore.