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 and Hindalco ended higher by around 2.2% and Tata Steel gained 0.5%.
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, Infosys, ITC, Wipro and BHEL 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, DLF, Punjab National Bank, HCL Technologies, Kotak Bank, IDFC, Lupin, 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 and Biocon 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.