Markets buoyant, Sensex gains 203 points

MUMBAI: The markets closed in positive terrain on Wednesday with the benchmark Sensex notching up a gain of 203 points on good buying activity, particularly in banking and metal sector shares.
    
The Bombay Stock Exchange 30-share index closed the day at 15,790.51, higher by 202.89 points, or 1.30 per cent, from its previous close.
    
The broader 50-share S&P CNX Nifty of the National Stock Exchange also improved by 37.40 points, or 0.79 per cent, to end at 4,747.05.
    
Traders said markets were buoyant on revival of FII inflows as well as value buying at current low levels.
    
The market saw some value buying following fairly good capital inflows of Rs 1,741 crore on April 4 and 7, market players said. "Foreign Institutional Investors (FIIs) and retailers entered into fresh commitments during the day."
    
Buying support was spread across sectors. The mid-cap and small-cap stocks attracted keen demand, holding the market breadth strong on the BSE.
    
Global cues, particularly subdued trend in Asian and European markets, exerted some pressure on bourses in the first half of the trading session but it was melted later in buying support.
    
In a reversal of trend, capital goods shares, which bore severe beatings earlier last week, surged smartly on hopes of steps to provide a boost to the sector after its disappointing growth rate in January this year.
    
Investors seemed still apprehensive about fourth quarter corporate earnings in the light of a new accounting norm, under which companies may disclose/provide for losses in foreign exchange derivatives products, brokers said.
    
Infosys Tech will come out with its Q4 financial results on April 15, unveiling the earning season.

Bank, Power and Capital Goods stocks hogged the limelight by registering handsome gains.
    
Among Sensex-related stocks HDFC Bank was the biggest gainer, as its share surged 5.50 per cent. HDFC was the second best performer at 4.24 per cent. Other heavyweights  L&T, Cipla, ICICI Bank, REL, Tata Steel and BHEL cloacked gains in
the range of 2-4 per cent. shares L&T gained 2.17 per cent, HDFC Bank 5.50 per cent, HDFC 4.24 per cent, BHEL 3.74 per cent, ICICI Bank 2.86 per cent, REL 2.30 per cent, Tata Steel 3.44 per cent, RIL 1.55 per cent and Cipla 2.42 per cent.
    
Bluechip stocks Bharti Airtel, DLF, Wipro, TCS, Reliance Comm, Maruti Suzuki, Hindustal Unilever and ACC scored moderate losses.
    
The mid-cap and the small-cap indices surged by 88.49 points, or 1.39 per cent, and 126.94 points, or 1.62 per cent, respectively to close at 6,471.51 and 7,941.11 respectively.
    
FIIs have turned net buyers in equity since April 4 after pulling out a massive 11,800 crore in the initial three months of the calendar year.
    
Of the total 22,689 traded shares, 1,829 registered gains while 794 closed with losses.
    
The trading volume advanced to Rs 5,331.37 crore from Rs 5,145.99 crore on Tuesday. Orchid Chemicals remained the top traded scrip with highest turnover of Rs 581.62 crore followed by Reliance Capital (Rs 260.93 crore), RIL (Rs 162.28 crore), REL (Rs 154.61 crore) and L&T (Rs 147.14 crore).
    
The broad-based BSE-100 index recovered by 103.65 points to 8,336.08 from its previous close of 8,232.53.
    
The BSE-200 index and the Dollex-200 were quoted higher at 1,955.24 and 813.20 at close compared to previous close of 1,931.00 and 803.22 respectively. The BSE-500 Index jumped by 81.75 points to 6,235.77 from its last close of 6,154.02 and the Dollex-30 ended up at 3,238.57 from 3,197.36.