MUMBAI: Sharp correction opened up the door of opportunity for investors to enter value stocks at attractive lower levels. Interest rate cuts in the US came as a confidence booster for the wounded bulls who shot back in action to take indices further higher.
BSE’s Sensex ended at provisional 17,594.07, up 864.13 points or 5.17 per cent. It touched a high of 17,997.11 and low of 16,951.03.
NSE’s benchmark Nifty closed provisionally 320 points or 6.51 per cent higher at 5218.25. It touched a high of 5,328.05 and low of 4,891.60.
It was the day for the midcap stocks as BSE Midcap Index outperformed rest of the market to close 8.15 per cent higher at 7,789.31.
Sterlite Technologies (up 41.88%), Peninsula Land (41.05%), Ispat Industries (30.56%), Ansal Infrastructure(30.24%), Mahindra Life (27.50%), Dena Bank (27.16%) and JP Hydropower (26.75%) were the major gainers in the midcap space.
Sensex Gainers were Reliance Energy (up 16.76%), NTPC (13.24%), Satyam Computers (10.25%), Bajaj Auto (8.59%), State Bank of India (8.56%) and Reliance (8.48%).
Market breadth turned negative on the BSE with 1302 advance and 1398 declines.
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