The 30-share BSE Sensex extended gains and was trading above 19700 level, by adding 200 points in trade today. Even the Nifty was holding 5800 - a psychologically important level. Five shares advanced for every one share declined on Nifty.
Oil & gas, financial, auto, metal, realty, capital goods and select power companies' shares were on buyers' radar. TCS, Reliance Communications, Cipla and Jaiprakash Associates were other gainers in trade.
Aditya Narain of Citigroup expects about 15% returns in 2011. He expects market performance to be earnings driven but its premium to other EMs moderating. However, he said, "The market pace should be more measured and predictable, volatility lower and sectoral divergences more moderate."
The Sensex rallied 209 points to 19730 and the Nifty was trading at 5927, with gain of 65 points over previous closing value. The broader indices added more gains; the BSE Midcap Index was up 2.3% and Smallcap up 2.8%.
Among frontliners, Hindalco and Tata Steel rallied 4% each. Suzlon Energy shot up 7%. SBI, M&M and Tata Motors gained 2.6-3%. However, Bharti Airtel plunged 2.53% on profit booking. ITC, Sesa Goa, Wipro, Dr Reddy's Labs, HUL and NTPC declined 0.4-0.9%.
SBI, LIC Housing Finance, Tata Steel, ABG Shipyard, Delta Corp, Tata Motors and Reliance Industries were the most active shares on exhanges.
In midcap space, Bhushan Steel, Glodyne Tech, Jubilant Food, IVRCL Assets and OnMobile Global gained 7-11% while Shree Ashtavinayak was down 10% and Money Matters was locked at 5% lower circuit. P&G, Jagran Prakashan and Binani Cement slipped 1.5-2%.
In smallcap space, Zenith Infotech, Ganesh Housing, Marg, Hitachi Home and Oscar Invest were up 11-14% while Bheema Cements, Urja Global, Koutons Retail, Sujana Metal and Well Pack Paper fell 5-10%.
About 2512 shares advanced while 704 shares declined on the Bombay Stock Exchange. Nearly 240 shares were unchanged.
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