At 3 pm, Bombay Stock Exchange’s Sensex surged 850 points or 6.04 per cent at 14,955.63. The index rose to high of 14,955.63 from a low of 14,568.22 in trade so far.
National Stock Exchange’s Nifty rose 5.59 per cent or 237 points to 4476.95. The index touched a high of 4491.55 and low of 4246.70.
Second rung stocks were in action as well. BSE Midcap and Smallcap indices were up 5.12 per cent and 4.19 per cent respectively.
Biggest Sensex gainers were Reliance Communications (12.57%), BHEL (12.49%), ICICI Bank (12.2%), Reliance Infrastructure (11.72%), HDFC (10.31%) and State Bank of India (9.7%).
Cipla, down 1.28 per cent, was the only loser in the 30-share index.
Market breadth was extremely positive with 2239 advances and 407 declines on BSE. On NSE, there were 1172 advances and 102 declines.
Once again after crash Nifty has started going up. Now we suggest all rises should be used as an opportunity to exit old long positions.
This bull run will continue for few more days. Overall market is in bearish mood as in medium term its just a small rally due to short covering
and result season.