New Delhi: It was a phenomenal session for equity markets across the globe giving some blow out moves. Markets saw an emphatic breakout celebrating the rate cut of 50 bps in the discount rate by the Fed chief Ben Bernanke.
This rate cut comes after four years on account of recession concerns in the US. During the last four years there have been 17 consecutive rate hikes and yesterday we saw a rate cut of 50 bps. Analysts are seeing this as positive and a bold move by the Fed in order to take charge of the slowdown in US.
It was a historic session for Sensex, which was up 4 per cent or 600 points breaching 16,000 and staying well above outperforming most of the Asian peers. It was the biggest single day points gain for Sensex.
The euphoria was wide spread in scrips across sectors. Sugar was the story of the day. After a long time sugar rallied with some of sugar stocks locked in upper circuit on sops being given to sugar companies.
Rate sensitive were also among the star performers whether it was banking, property or auto.
Banking and financial stocks like HDFC and HDFC Bank saw big moves and were up 8 per cent followed by ICICI Bank and SBI. Giving them company from the realty space were DLF, Unitech, HDIL.
Stocks like SBI, SAIL, Reliance, RPL, HDFC, BHEL and Tata Steel hit their life time highs. Reliance market cap hit Rs 3 lakh crore.
Sensex was up 653.63 points or 4.17 per cent at 16322.75, and the Nifty up 186.15 points or 4.09 per cent at 4732.35.
About 1643 shares have advanced, 1301 shares declined, and 86 shares are unchanged.
The BSE Midcap Index ended at 7,116.61 up 132 points or 1.9 per cent. The BSE Smallcap Index ended at 8,871.00 up 90 points or 1 per cent.
The BSE Capital Goods Index was closed at 14,112.99 up 2 per cent. Triveni Engg, Praj Industries, Lakshmi Machine, Reliance Infra, Carborundum, Bharat Bijlee, Thermax closed higher.
The BSE Auto Index closed closed at 5,094.31 up 3.5 per cent. Maruti Udyog, Bajaj Auto, Mah and Mah, Hero Honda, Tata Motors ended in the green.
The BSE Metal Index closed at 12,546.34 up 4 per cent. SAIL, Sterlite Ind, Tata Steel, Hindalco, JSW Steel, Hind Zinc advanced.
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The BSE FMCG Index gained 2 per cent at 2,140.91. ITC, HUL, Britannia, Marico, Colgate, Tata Tea ended higher. BSE Oil and Gas Index closed at 8,924.11 up 5 per cent. Reliance Petro, Reliance Natura, GAIL, Reliance closed in green.
The BSE IT Index closed at 4,491.21 up 2.4 per cent. Infosys, Tech Mahindra, Mphasis, I-Flex Solution, HCL Tech, Satyam, Patni Computer closed higher.
The BSE Bankex was up 5 per cent at 8,691.45. HDFC Bank, Bank of Baroda, ICICI Bank, PNB, SBI closed higher.
The NSE cash turnover was at Rs 16470.54 crore and the NSE F&O turnover was at Rs 68643.65 crore. The BSE cash turnover was Rs 7455.94 crore. Total market wide turnover was at Rs 92570.13 crore.
It took 53 days for the markets to reach 16000 from 15000.
10-16K
Sensex up 60 per cent, Nifty up 54 per cent, CNX Midcap Index up 48 per cent, BSE Small-cap Index up 43 per cent.
Sectoral Indices 10-16K (per cent)
B S E Capital Goods Index 93.22
B S E Oil & Gas Index 87.17
B S E Metal Index 67.01
B S E Bankex 61.16
B S E Fmcg Index 19.42
B S E IT Index 18.60
B S E Auto Index 7.62
B S E Healthcare Index 5.37
Asian markets were trading strong. Hong Kong's Hang Seng surged 3.72 per cent or 914.85 points at 25,491.70, Japan's Nikkei rose 3.36 per cent or 531.49 points at 16,333.29, Singapore's Straits Times advanced 2.48 per cent or 86.12 points at 3,563.87, South Korea's Seoul Composite was up 3.02 per cent or 55.49 points at 1,894.10 and Taiwan's Taiwan Weighted gained 0.50 per cenr or 44.17 points at 8,944.08.
US markets: The Dow soared 335.97 points, or 2.51 per cent, to 13,739.39. The last time it rose more than 300 points in one session was October 15, 2002, when it gained 378 points, and Tuesday's per cent increase was the biggest since April 2, 2003. The blue-chip index is now only about 1.9 per cent below its record close of 14,000.41, reached in mid-July.
The Standard & Poor’s 500 index rose 43.13 points, or 2.92 per cent, to 1,519.78. The Nasdaq composite index gained 70 points, or 2.71 per cent, to 2,651.66. The S&P and the Nasdaq had their largest point gains since July 29, 2002.
Market cues:
- Markets may test all-time highs on Fed impact.
- FIIs net sell $65.5 mn in equity on September 17.
- MFs net sell Rs 203.6 crore in equity on September 17.
- NSE F&O Open Interest up by Rs 2,531 crore (Rs 25.31 billion) at Rs 88,331 crore (Rs 883.31 billion).
- NSE F&O Open Int up Rs 2,531 cr at Rs 88331 cr.
- Futures Open Interest up by Rs 1,355 crore (Rs 13.55 billion), Options Open Interest up by Rs 1,176 crore (Rs 11.76 billion).
- Nifty September Futures shed 11 lakh shares in Open Interest.
- Nifty October Futures add 6 lakh shares in Open Interest.
- Nifty Open Interest Put-Call ratio at 1.55 Vs 1.50.
- Nifty Puts add 16.7 lakh shares in Open Interest.
- Nifty Calls add 4.4 lakh shares in Open Interest.
- Nifty 4500 Put adds 6.7 lakh shares in Open Interest.
- Nifty 4600 Call adds 2.7 lakh shares in Open Interest.
F&O cues:
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