Sensex Hits Triple Ton, Markets Hit 3-Month High

The Nifty today saw a crucial breakout above the level of 6000, rallying to the highest level since February 4, 2013.  The gains were on account of buying seen in the sectors of FMCG, Banking and Realty. At the end of the day, the Nifty closed at 6043, up by 72 points and the Sensex closed at 19881, up by 305 points. With this, the Nifty and Sensex closed higher in the range of 1.21% and 1.56%.

The market breadth today was positive on closing. On the NSE, 784 shares advanced and 536 shares declined.

Top 5 Gainers on NSE: Hero Motocorp emerged as the top gainer on NSE, having closed higher by 3.69%. It was followed by DLF, Axis Bank, Lupin and IDFC.

Top 5 Losers on NSE: Coal India was the top loser on NSE trading as it closed lower by 1.96%. It was followed by Mahindra and Mahindra, Ambuja Cement, Bharat Petroleum and Ranbaxy Labs.

Among the sectoral indices, all the sectors ended on a positive note. The highest gains were seen in FMCG, Realty and Bankex. FMGC gained more than 2% today.

On the global front, European markets are currently trading in the positive zone. The DAX is trading higher by 0.71% followed by the FTSE 100 and CAC 40 which are trading higher by 0.36% and 0.39% respectively.

Most of the Asian markets ended in the green today. Japan’s Nikkei 225 surged more than 3% followed by Hang Seng, and Shanghai Composite. Kospi and Taiwan Weighted ended the day in red.

Buzzers: Allahabad Bank slipped down by more than 4% to Rs 126.40 after the company reported disappointing results for the quarter ending March 2013. The net profit of the bank has declined by 69% year-on-year due to higher provisioning and deterioration in asset quality.

Bajaj Corp surged about 4% to Rs 263.55 per share. It saw a jump in prices along with a rise in volumes. While its 5 day average volume stands at 136100, today’s trading volume was at around 207107, signifying a jump of more than 50%.

In our previous write up, we mentioned that the Nifty needs to sustain above 6020 to give a fresh breakout. In line with this, as soon as it sustained these levels, the Nifty swiftly surged almost 30 points.