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Cheers in markets. ICICI Bank spikes 6%

Markets were cheered in the trade, as the indices recorded a good 2% gain. The trades were brisk right from the morning, as though to indicate that they were trying to make up for the yesterday’s break. Banks, Metals and infrastructure stocks were in full swing on the buyers’ radar. The mood was uplift by the new listing of MCX, which ventured into the secondary market today. The stock had seen whopping gains close to 40% to its issue price, during the opening. It finally managed to close at 1294, with 25% rise.

The Nifty managed to put up a superb 2.2% gain at 5336, rising by 116 points.

Metal stocks were in full demand from the early trades. Jindal steel logged an 8% gain at the close. Tata steel managed to shoot up by 7.5%. Sterlite industries rose by nearly 5%. SAIL recorded a 4% surge. JSW Steel witnessed a full 8% hike.

Banks also topped the gainers’ list. ICICI Bank managed to rise 6.5% to close at 915.85. SBI was up by 4.6%. HDFC Bank closed 2% higher, while PNB also closed 2.6% above.

L&T scored a 5% rise. Punjlloyd was also up by 4.3%. JP Associates was up by 5.2%. Crompton greaves also rose by 4.2%.

Finance giant HDFC was up by 4%. Reliance was up by 1.5% at the close.

Active trading counters such as Jubilant Foodworks saw 7% rise. Cairn India was up by 5%. IVRCL Infra was also up by 6.5%.



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