Both the benchmark indices, Sensex and Nifty received the hot money whole-heartedly from FIIs that is being infused in Indian markets as expected in-line after US Govt. shutdown. Both the indices continued their one-sided northward rally all along the day and registered substantial gains as Nifty gained by 2.24% and Sensex by 1.97%. Broad-based index Nifty breached the intermediate resistance level of 5,900 in last hour of trade and closed at 5909.70 up by 129.65 points while Sensex also surged 384.92 points and closed at 19902.07.
Market ended the day with a spectacular rally on the back of sustained buying across the board by FIIs and many more favorable news across segments. The US Govt. shutdown brought back US dollars in Indian markets as FIIs feared the hiccup in US economic recovery and QE will continue in the US for a longer period. Indian Govt. also decided to increase the capital infusion in PSU banks to beyond the budgeted Rs. 14,000 crore. Additional funding is expected to help PSU banks lend at lower rates to sectors like two wheelers and consumer durables.
All the sectoral indices registered growth today except the CNX FMCG which plunged by -0.76%. CNX Metal led the bull run on NSE and surged by 3.94% followed by CNX Media (3.68%), Bank Nifty (3.44%), CNX Commodities (3.20%), CNX Finance (2.86%) and CNX Service (2.59%).
Market breadth remained positive throughout the day on NSE with 796 gainers against 373 losers and 68 stocks closed unchanged.
Out of 50 stocks of Nifty index, 48 advanced and 2 declined.
Top Five Nifty Gainers: Sesagoa led the Nifty Gainers chart and excelled by 7.28% followed by J P Associates (6.58%), Ambuja Cement (6.19%), Axis Bank (5.62%) and Bank of Baroda (5.27%).
Top Five Nifty Losers: There were just two losers on the Nifty and both from FMCG sector, namely Hindustan Unilever (-1.81%) and ITC (-1.15%).
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