What a day it was in the Indian Stock Markets, The most awaited 18k is one of the fastest milestone in the history of Sensex & atlast done today, The benchmark indices today outperformed the broader markets.After a dull start victory came in with Sexsex hitting the 18000 mark today. This came in as surprise after the news that UPA, Left to meet again on US Nuke Deal on October 22.
Sensex saw gains of 1000 points from the day’s low with the backdrop of political uncertainty. It was absolute heady for the Bulls making Biggest intra day gains. Despite all the political problems which markets seems to be have ignored & making new records by not just touching new highs but has registered some record gains on record turnover.
The Sensex took just 8 Trading session to move from 17000 to 18000. The major contributors to this rally were RIL with 185 Points, Infosys with 152 Points, L&T with 103 Points, REL with 104Points, Tata Steel with 42 Points, Reliance Communication with 93 Points, Bharti (Airtel) with 69 Points, BHEL with 59 Points, NTPC with 39 Points & Satyam with 33 Points. To a shocking fact The Top Five Stocks have contributed 60% to the rally from 17000 to 18000 & the FII’s have invested a whopping 3.54 Billion US$ in the cash segment.
Sensex Closed @ 18280.24 (+788.85)
Nifty Closed @ 5327.25 (242.15)
The market breadth turned positive a little past noon and remained that way right till the end. Out of 2783 stocks traded on BSE today, 1784 stocks finished on a winning note. 933 stocks closed in the negative territory and 66 stocks ended unchanged from their previous closing levels.