Nifty ends above 4500; Realty, Banks up 6.5%

Nifty ends above 4500; Realty, Banks up 6.5%, Auto

Markets witnessed sharp rally in second half of session and closed near days high. Strong value buying was seen in rate sensitives and infrastructure stocks .

Trading got off to a cautious start on the major Indian bourses this morning, and the morning session, notwithstanding some sharp gains recorded by a few front line and several midcap stocks, remained somewhat listless as participants appeared a bit confused about the direction due to weak US and Asian markets. Investors appeared keen on playing it safe ahead of the crucial US Federal Reserve meet.

However, the afternoon session saw stocks, with the exception of quite a few from the metal space, embark on a trip up north thanks to a splendid comeback by the bulls. The sharp decline in crude oil prices and a positive trend on the European bourses aided the sentiment to a marked extent.

The Sensex, which very nearly breached the magical 15,000 mark this afternoon - it hit a high of 14,986.63, ended the day with a huge gain of 383.20 points or 2.63% at 14,961.07. The Nifty ended with a gain of 107.50 points or 2.45% at 4502.85, near its intra-day high of 4515.15.

Bank, realty, auto, power and capital goods stocks soared higher on frenzied buying and there were smart gains for IT, oil, cement and FMCG stocks as well. Pharma stocks ended on a mixed note and consumer durables stocks failed to hold their early gains.

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Tags: NIFTY, post market, sensex