Mumbai: A smart rally on the expiry day, led by heavyweights, helped the Nifty to shut shop above the key psychological 5,000 mark. Oil & gas, private banks, technology, FMCG and auto stocks played a key role in Thursday's upmove. The 30-share BSE Sensex rallied 252.05 points or 1.53 per cent, to close at 16,698.07 and the 50-share NSE Nifty rose 69.55 points or 1.41 per cent, to end at 5,015.45.
Ambareesh Baliga, COO, Way2Wealth said, the downside in the market is limited now. He doesn’t see the Nifty going below 4,750-4,800. The upsides, he says, would also be capped at 5,100-5,250.
Meanwhile, the favourable verdict in German Parliament over European bailout package failed to lift mood in Europe. France's CAC and Germany's DAX rose 0.2-0.7 per cent while Britain's FTSE were trading 0.6 per cent down at the time Indian markets closed. Even Dow Jones and Nasdaq futures came off their day's highs and were up around 0.8 per cent.
On the home turf, the BSE Auto and IT surged 2 per cent each. FMCG, Oil & Gas, Bank and Power indices were up 1-1.8 per cent.
Heavyweight Infosys shot up 3.4 per cent, to close above Rs 2,500; the stock has seen smart recovery from August lows of near Rs 2000 level.
From the oil & gas space, ONGC and Reliance Industries rose 2.2 per cent and 1.3 per cent, respectively.
Private financial space too was quite supportive. HDFC Bank, ICICI Bank, Kotak Mahindra Bank and HDFC moved up 2.5-3 per cent.
From the auto pack, Tata Motors, M&M, Hero Motocorp, Bajaj Auto and Maruti Suzuki gained 1.5-3 per cent. ITC and HUL surged 2.6 per cent each.
However, L&T and Sesa Goa closed lower for the second consecutive session; fell over 2 per cent.
SBI, Bharti Airtel, Sterlite, Sun Pharma, Reliance Communications and Reliance Infrastructure were down 1 per cent.
About 603 shares advanced as against 824 shares declined on National Stock Exchange. Total traded turnover on both exchanges was more than Rs 2.43 lakh crore.
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