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Sensex ends 265 points up

The BSE benchmark Sensex, which zoomed nearly 500 points to 27,743.46 in late morning trades, ended the day at 27,517.68, recording a gain of 265.15 points or 0.97%. The Nifty50 of the National Stock Exchange ended up 93.75 points or 1.11% at 8525.75, after touching a high of 8598.45 intraday. In the forex market, the rupee rose to a two-month high of 66.34 against the U.S. dollar, before retreating to around 66.40 a dollar, 

still up 0.05% from its previous close of 66.44. Metal stocks were the star performers today. Mirroring heavy buying in that space, the BSE Metal index rose more than 6%. Bank stocks were in demand, and with top stocks in the banking space surging higher, the BSE Bankex ended 3.63% up. Realty and cement stocks, which were the most prominent losers in the previous session, moved up sharply today and despite retreating from higher levels during the later part of the day, settled with notable gains. Telecom, capital goods, power, oil and healthcare stocks too trended higher, while information technology, consumer discretionary and automobile stocks ended on a mixed note

p 8.5%, Cipla gained nearly 7% despite reporting a decline in second quarter earnings, Coal India gained nearly 5% and Power Grid Corporation (on strong results) gained 4.4%. ICICI Bank, Axis Bank and Adani Ports gained 3.7% - 4%. Bharti Airtel, ONGC, HDFC Bank and Larsen & Toubro also rose sharply. Asian Paints declined 3.5%. Hero Motocorp, Lupin, HDFC, Infosys, Bajaj Auto, Maruti Suzuki and Mahindra & Mahindra ended lower by 1% - 3%. Nifty stocks Bank of Baroda (9.3%), Hindalco (8.7%), Bharti Infratel (6.7%)

Yes Bank (5.8%),  Aurobindo Pharma (4.5%) and Tata Power (4%) ended with handsome gains. Grasim Industries, Tech Mahindra, UltraTech Cement, BHEL, HCL Technologies, IndusInd Bank, ACC and Idea Cellular also ended on a firm note. Bank of India rallied sharply and ended with a hefty gain of 13% on turnaround results. Motherson Sumi Systems, Manappuram Finance, Caplin Point, JK Tyre, Rane Holdings, Power Grid Corporation and Bodal Chemicals also climbed up on strong results. The market breadth was very strong. Out of 2882 stocks traded on BSE, 2029 stocks moved up. 721 stocks declined and 132 stocks ended flat.

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