Rise in advance tax numbers, raising hopes to higher profits of companies, saw markets close at a fresh 16-month high. The Nifty closed above the 5,000 mark for the first time since May 22, 2008.
The Sensex on Tuesday opened up 64 points at 16,805. The index slipped to a low of 16,764, but soon firmed up and moved to higher levels. Select short covering towards the end, saw the index soar 195 points to a high of 16,943. The Sensex finally ended with a gain of 145 points at 16,886.
The Nifty opened at 4,977 but managed to cross the 5,00 level and stayed there for most part of the day. The index touched a high of 5,036 and finally ended at 5,020.
The BSE IT index gained 2% to 4,649. The FMCG, realty and auto indices added around 1.5% each.
The markets breadth was positive. Out of 2,862 stocks traded 1,608 advanced while 1,172 declined.
INDEX MOVERS...
HDFC surged 5.3% to Rs 2,667. TCS gained 3% at Rs 601. Tata Motors and ITC added 2.5% each to Rs 615 and Rs 233, respectively.
Infosys, HDFC Bank and SBI moved up 1.5% each to Rs 2,405, Rs 1,546 and Rs 2,173, respectively.
Hindustan Unilever, Wipro, Maruti Suzuki, Larsen & Toubro and ICICI Bank also were up.
...AND SHAKERS
Bharti Airtel dropped 3.2% to Rs 428. Jaiprakash Associates declined 2.6% to Rs 250.
