Market Today

trong response to the initial public offer of Oil India, an
improvement in business confidence of India Inc and revival of
monsoon rains helped key benchmark indices extend gains for the
second running day. The Sensex surged 327.20 points or 2.09% to
16,016.32, up 223.05 points from the day's low and off just 19.18
points from the day's high. The barometer index BSE Sensex surged
past the psychological 16,000 mark in late trade. Both the
frontline indices - the BSE Sensex and the 50-unit S&P CNX Nifty
settled at their highest level in more than 15 months. Global
stocks surged after the G20 leaders pledged to maintain stimulus
measures.

Today's rally came on the back of higher turnover. The BSE clocked
a turnover of Rs 6,055 crore as compared with Rs 5,722.02 crore on
Friday, 4 September 2009. The market breadth indicating the overall
health of the market was strong. Realty, banking and metal stocks
were at the forefront of today's rally. The BSE FMCG index was the
lone loser among the sectoral indices on BSE. In stock-specific
activity Tata Motors surged almost 13%. ICICI Bank jumped around 7%
and Sterlite Industries gained around 6.5%