Shrugging off some early uncertainty, the Indian stock market moved higher and ended on an upbeat note on Friday, buoyed by some impressive quarterly results and on hopes of some monetary easing measures by the Reserve Bank of India early next week. A firm trend in European markets too aided sentiment to a notable extent.
The BSE benchmark Sensex ended the day with a gain of 179.75 points or 0.9% at 20,103.53. The Nifty index of the National Stock Exchange, which rose to 6080.55, settled at 6074.65, recording a gain of 55.30 points or 0.92%.
Realty stocks came back strongly after recent sharp losses. Mirroring their surge, the BSE Realty index spurted nearly 4.5%. Automobile stocks had a nice ride up north, with Maruti Suzuki leading the way on strong results. The BSE Auto index ended stronger by about 2.2%.
Metal, healthcare, consumer durables, capital goods, bank and PSU stocks too mostly ended on a high note. FMCG, information technology and power stocks were a bit subdued early on, but gained in strength as the session progressed. Oil stocks ended on a mixed note.
Maruti Suzuki ended stronger by over 4%. The company has posted a net profit of Rs 501.29 crore for the quarter ended December 31, 2012 as compared to Rs 205.62 crore for the quarter ended December 31, 2011. Total income increased from Rs 7906.21 crore for the quarter ended December 31, 2011 to Rs 11,388.96 crore for the quarter ended December 31, 2012.
Bajaj Auto moved up by nearly 3.5%. Mahindra & Mahindra
and Tata Motors
gained around 2.6%.
Jindal Steel & Power moved up by 3.3%. Sterlite Industries
ended higher by around 2.2% and Tata Steel
Pharma stocks Sun Pharmaceutical
Industries (2.5%), Cipla
(1.8%) and Dr Reddy's
Laboratories (0.7%) closed on a firm note.
State Bank of India gained 2.3%. HDFC Bank
and ICICI Bank
also closed notably higher.
ONGC, Larsen & Toubro
, Hindustan Unilever
and GAIL India
ended higher by 1.3% - 1.4%. Tata Consultancy Services
closed with modest gains.
Jaiprakash Associates, the top gainer in the Nifty index, moved up by over 5%. Bank of Baroda
gained 4.8%, Reliance Infrastructure
notched up a gain of 4.3%. Sesa Goa
, Punjab National Bank
, HCL Technologies
, Kotak Bank, IDFC
, Ranbaxy Laboratories
and Ambuja Cements
also closed with strong gains.
Tata Power declined by 1.8%. Ultratech Cement ended 1.6% down and ACC
lost around 1.1%. NTPC
, Coal India
, Hero Motocorp, Bharti Airtel
, Axis Bank
and Reliance Industries
also closed weak.
Reliance Power, Dhanalakshmi Bank
, SKS Microfinance
attracted buyers on strong results.
HDIL ended with a big gain of 10.5%, after suffering sharp losses earlier this week. Unitech
spurted 6.6%. Sobha Developers
ended nearly 6% up and Prestige Estates gained 5.2%. Anant Raj Industries
, Indiabulls Real Estate
, Godrej Properties, Parsvnath Developers
and Oberoi Realty also ended with handsome gains.
With several midcap and smallcap stocks bouncing back smartly after recent losses, the market breadth was quite strong today.