Positive global cues (the nearly $1 trillion European Union bailout plan) saw the Sensex open with a positive gap at 16,799, which turned out to be the low for the day. Buying in heavyweights and metal stocks saw the index zoom to a high of 17,356 - an intra-day gain of over 585 points. The Sensex finally snapped a five-day losing streak and closed near the day's high with a gain of 561 points (3.35%) at 17,330. The Nifty was up 175 points at 5,194.
All the sectoral indices closed with gains. The BSE Realty index gained over 6%. Breadth was bullish - out of over 2,965 scrips traded, over 2,255 logged gains.
eliance Infra, which had dropped 7% on Friday after the SC ruling on the KG basin gas favouring Reliance, gained 8% to Rs 1,063. Metal stocks were in focus: Tata Steel and Hindalco advanced nearly 8% each to Rs 602 and Rs 175, respectively. Sterlite added 6% at Rs 756.
Heavyweight Reliance moved up 4% to Rs 1,080. M&M, Wipro, Grasim and ACC also closed with gains.
Cipla dropped 6% to Rs 320 after brokerges downgraded the stock to SELL on lower-than-expected Q4 numbers. Hero Honda was down marginally at Rs 1,886.
Debutant Talwalkar was the most active counter on the BSE with a turnover of Rs 289 crore followed by RNRL (Rs 166 crore) and Reliance (Rs 151 crore).
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