Sensex leaps 1,148 points led by RIL, financials; investor wealth soars by Rs 3.7 lakh crore

NEW DELHI: Equity investors made about Rs 1,000 per minute on Wednesday as benchmark indices extended their rally to a third straight day, driven by buying in heavyweight Reliance Industries along with banking and financial stocks.

Positive global cues have been driving markets across the world. In the current week, investors' wealth has risen by Rs 9.5 lakh crore. This includes Rs 3.65 lakh crore that they made on Wednesday.

The 30-share pack Sensex advanced 1,147.76 points or 2.28 per cent to close at 51,444.65. Its broader peer NSE Nifty climbed 326.50 points or 2.19 per cent to 15,245.60.


"Markets across the globe were filled with optimism as the focus shifted from concerns over high valuation to a stronger economic recovery and earnings growth. The Indian market was on a rising streak echoing the global sentiment. The nifty bank which had a rough week so far took a breather and led the rally while consolidation was seen on auto stocks," said Vinod Nair, Head of Research at Geojit Financial Services.

Market at a glance

• RIL surges 5% after buying the biggest chunk of spectrum on offer
• Auto giant shares witness profit-booking after two-day rally
• Volatility barometer India VIX continues to slide, falls 6% to 22 mark
• Bajaj twins among top two bluechip gainers; private banks surge
• 342 stocks hit 52-week highs: Vedanta, TaMo, Tata Power, NTPC, NMDC and InterGlobe Aviation among top names

Among the bluechip scrips, Tata Steel was the top gainer, rising 5.34 per cent. Bajaj Finserv, Reliance Industries, Bajaj Finance, UPL, Hindalco, HDFC and ICICI Bank were other gainers.

Hero MotoCorp was the top loser in the Nifty pack, falling 1.54 per cent. Maruti Suzuki, Bajaj Auto, M&M, Bharat Petroleum, Titan and Eicher Motors were others that ended in the red.

Broader market indices also ended with gains but underperformed their headline peers. Nifty Smallcap rose 0.99 per cent and Nifty Midcap added 1.67 per cent. Nifty 500 -- the broadest index on NSE -- advanced 1.96 per cent.

Edelweiss Financial Services, Indiabulls Housing Finance, Cummins India, Granules India, HEG Infra and Rallis India were top gainers from the mid- and small-cap indices, climbing in the range of 6-10 per cent.

We remain cautiously optimistic on the markets, and suggest focusing more on the selection of trades.

-Ajit Mishra, Religare Broking

JSW Energy, Vodafone Idea, HUDCO, Ircon International, Just Dial and BEML were major losers from broader market space, falling in the range of 2-8 per cent.

Barring Nifty Auto that slipped 0.66 per cent, all sectoral indices closed with gains. Nifty Metal was the biggest gainer, up 3.34 per cent. Nifty PSU Bank, Nifty Private Bank and Nifty Financial Service were other major gainers.

Market breadth was in favour of gainers as 1,844 stocks ended in the green, while 1,157 counters settled with cuts. As many as 342 securities hit 52-week highs, mostly from the smallcap space. Meanwhile, 33 stocks hit 52-week lows, mostly from the micro-cap space. About 360 stocks hit upper circuit limits and 208 lower circuit limits.

European markets were trading with gains at the last count. London-based FTSE was up 1.09 per cent while Paris and Frankfurt rose 0.81 per cent and 0.88 per cent, respectively. In Asia, all markets registered gains, led by Hong Kong that added 2.7 per cent.