New Delhi: The market ended with smart rally. The Sensex and Nifty ended at new high. Buying was seen across the board. Technology and pharma led the rally.
The Sensex ended at 11,183.48, up 97.45 points or 0.88 per cent. It touched a new life high of 11,197.64. The Sensex crossed the Dow Jones Industrial Average today for the first time ever.
The Nifty closed at 3354.20, up 29.20 points or 0.88 per cent. It touched an all-time high of 3359.80.
The CNX Midcap ended at 4679.55, up 12.25 points or 0.26 per cent.
The BSE Small Cap Index closed at 6,415.40, up 129.11 points or 2.05 per cent. The BSE Midcap Index ended at 5,197.28, up 53.32 points or 1.04 per cent.
The market breadth was positive, about 1617 shares advanced, 826 shares declined, and 67 shares remained unchanged.
The total market turnover was at Rs 49657.05 crore. The NSE Cash turnover was at Rs 8031 crore. The NSE F&O turnover was at Rs 37411.03 crore. The BSE Cash turnover was at Rs 4215.02 crore.
Ranbaxy Labs, Infosys, Wipro, Satyam, VSNL and Sun Pharma were the biggest gainers on the indices.
ACC, Dr Reddy's Labs, HDFC, Tata Power, SAIL, NALCO and Oriental Bank were the biggest losers on the indices.
The BSE IT Index continued to outperform the other indices on the second trading session. It closed at 4,027.81, up 2.42 per cent as buying was seen in Satyam, Infosys, Wipro, HCL Info, Moser Baer and I-Flex Solutions.
Pharma stocks like Novartis India, Divis Labs, Lupin, Glenmark, GSK Pharma, Pfizer, Ranbaxy Labs, Sun Pharma, Orchid Chemical, Aurobindo Pharma and Biocon also rallied. The BSE Healthcare Index closed at 3,762.80, up 1.65 per cent.
Metal stocks including Sterlite Ind, Hindalco, Jindal Stainless, Jindal Saw, Welspun Guj, Sesa Goa, NALCO and Jindal Steel also ended in green. The BSE Metal Index closed at 8,562.51, up 0.94 per cent.
The BSE Consumer Durables Index ended at 3,194.26, up 0.87 per cent due to gains in Su-Raj Diamonds, BPL, Blue Star and Samtel Color.
Capital goods stocks like Praj Industries, Greaves Cotton, Crompton Greaves, Lakshmi Machine, BHEL, SKF India, KEC Infrastructures, Bharat Electronics and Aban LoydChiles also ended higher. The BSE Capital Goods Index closed at 8,040.03, up 0.61 per cent.
Banking stocks including Canara Bank, Kotak Mahindra, UTI Bank, HDFC Bank and ICICI Bank also gained smartly. The BSE Bankex ended at 5,276.52, up 0.60 per cent.
Buying was also seen in oil, auto and FMCG stocks.
Earlier, Sensex crossed Dow Jones Industrial Average for first time.
After the Sensex entered the 10,000 club, it has now surpassed the US Dow Jones Index.
What is Dow Jones Industrial Average
The Dow closed on Tuesday at 11,154 dropping 95 points on the news of the Fed hiking benchmark US interest rates.
The Sensex decided to go the other way and crossed the 11,155 during early morning trade.
While the Sensex has caught up and surpassed the Dow Jones in terms of the index level but is this case of comparing apples with oranges? Analyst Ramesh Damani believes that the two indices are entirely different especially if one compares in terms of stability.
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