Bulls In Command

The Indian markets saw a massive rally today after the RBI’s regulatory announcement. The Nifty closed at its high for 2013 so far, up 119 points at 6220, and Sensex ended 358 points higher at 20929. Both the indices ended positive in the range of 1.74%-1.96%.

On the NSE, 1671 shares closed in green, while 1468 shares ended the day in red, marking a positive advance-decline ratio.

Top 5 Nifty Gainers: Maruti Suzuki drove straight to the top of the index, up by 8%. Among the other stocks that ended the day higher were JP Associates, as well as banking stocks ICICI Bank, IndusInd Bank and Axis Bank.

Top 5 Nifty Losers: Ranbaxy Labs closed lower by 0.64%, followed by GAIL and ITC.

All the sectoral indices remained in the green zone. Bankex was higher by 534 points, Auto was up by 287 points and Metals gained 187 points. Capitals Goods and Consumer Durables were both up by around 100 points. The Mid-Cap and Small-Cap indices were also by 85 points and 30 points higher respectively.

In the Asian markets, Hang Seng gained 39 points, Taiwan Weighted was up by 13 points and KOSPI was marginally higher by 3 points. Nikkei remained in the red.

Buzzer: Apart from the private sector banks, PSUs like Canara Bank, Bank of Baroda, Bank of India, Union Bank of India and PNB also saw good gains, ending up in the range of 3%-5%.

Nifty Futures closed at its year’s high, which is a bullish indicator for further moves.