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Sensex closes above 8700 mark on strong gains in realty, metal and banking stocks.
Sensex closed in the positive territory for the second consecutive sessions, led by gains in realty major DLF and metal and banking stocks.

The market resumed on a strong note backed by positive global cues and strong investor appetite for heavyweights. Sensex quickly breached the 8700 level in early trades and held on its gains. Relentless buying in front-line stocks towards the close helped the index to touch to an a intra-day high of 8793, up 5.34 % or 449 points. Sensex finally wrapped up the session with the gains of 413 points at 8757. Nifty closed the session at 2719 by adding 102 points.

The breadth of the market was positive. Of the 2,551 stocks traded on the BSE 1,583 stocks advanced, whereas 854 stocks declined. 114 stocks ended unchanged. All the sectoral indices ended positive. BSE Realty ended firm with the gains of 7.57% while BSE Metal rose 6.26% and BSE Bankex added 5.85%. All other indices gained 1-4% each.

Action in several index heavyweights lifted the market. DLF led the pack and shot up by 11.57% at Rs152.55. Tata Motors soared by 10.72% at Rs161.60, Tata Power surged 9.18% at Rs662.85, ICICI Bank flared up by 8.60% at Rs308.70, Hindalco Industries jumped by 7.99% at Rs42.55, Sterlite Industries added 7.93% at Rs283, HDFC advanced by 7.53% at Rs1380.05 and Tata Steel moved up by 6.89% at Rs166.70. However, NTPC was the only stock to be in the red for the day with 2.0% down at Rs170.20.

Realty stocks rallied sharply. DLF shot up by 11.47% at Rs152.55, Akruti City soared 9.27% at Rs1175.40, Mahindra Life flared up by 8.16% at Rs80.80, HDIL added 6.48% at Rs68.15 and Indiabulls Real Estate was up 5.67% at Rs90.45.

Over 2.37 crore share of Satyam Computer Services changed hands on BSE followed by Cals Refineries (0.87 crore shares), ICICI Bank (0.82 crore shares), Unitech (73.70 lakh shares) and Suzlon Energy (67 lakh shares).