The Sensex was trading at 12001, up 598 points and the Nifty shot up 154 points, to 3,628, at 12:23 hours IST. Broader indices - BSE Midcap and Smallcap indices gained 3-3.6%.
On the sectoral front, BSE Metal Index surged over 7%, as Sterlite, Hindalco, Tata Steel, JSW Steel, Hindustan Zinc, NALCO and SAIL shot up 6-12%.
IT, Bank, Realty and Capital Goods indices went up over 5%.
In the technology pack, Wipro, TCS and Infosys gained 5-8%. Among banking stocks, ICICI Bank, SBI, HDFC Bank, Axis Bank and PNB were up 4.4-6.5%.
Unitech, Indiabulls Real, HDIL, Orbit Corporation, Parsvnath and DLF rose 3-10% in the realty pack.
Among the capital goods stocks, Siemens, Punj Lloyd, L&T and BHEL were up 3-9%.
Among other indices, FMCG, Auto, Oil & Gas and Power gained 3.5-4.5%.
Reliance Petroleum, Reliance Industries and ONGC were up 3-3.9% in the oil & gas space.
In the midcap space, Sintex India, Pantaloon Retail, MindTree, India Infoline and Asian Star were up 10-13%. In the smallcap space, Fresenius Kabi, Ruchi Soya, Infotech Enterprises, Kesoram and Aztecsoft gained 11-20%.
Shane Oliver, AMP Capital Investors said, "We may see an intermediate correction on the back of US banks' stress test, but the rally is not over yet. The rally is underpinned by improving global economic data, which shows the pace of decline is slowing. I expect around 20% upside from current levels by the year end."
Monday, May 4, 2009
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