Market Wrap: December 23

Markets close with spectacular gains

It was field day for the bulls as our equity markets rallied throughout the day and shut shop on a
higher note. The main reason is being attributed to the Indian Finance Minister, Pranab
Mukherjee's speech on the Indian GDP at the Parliament. He said that FY10 GDP would be more
than 7.75 per cent and he also said that 9 per cent growth was within reach and could be achieved
in 2-3 years.

European markets gaining in early trade also helped our markets. Asian peers closed the day
higher. Hang Seng had risen by 1.12 per cent and KOSPI was up by 0.35 per cent while Nikkei
had ended higher by 1.91 per cent. Intense buying in metals, oil & gas and power counters
helped the rise in our indices.

The Sensex had gone up by about 539.11 points to settle at 17,231.11 while the Nifty has risen
by 158.75 points to reach 5,144.60. Sensex gained about 3.23 per cent while the Nifty has
ascended by 3.18 per cent. The overall market breadth was strong as 1907 stocks advanced, 924
declined and 91 remained unchanged on BSE.

BSE Midcap index was up by 1.57 per cent while the BSE Smallcap index had surged by 1.51
per cent. Metal counter witnessed intense buying for the second consecutive day and the BSE
METAL index closed the day with gains of 4.05 per cent, double that of yesterday's. BSE OIL &
GAS, BSE POWER and BSE CG (Capital Goods), which rose by 3.43, 3.37 and 2.99 per cent
respectively, were the other top performers among sectoral indices. All sectoral indices closed
the day in the green. BSE HC (Health Care) and BSE CD (Consumer Durables), which rose by
0.84 and 0.79 per cent respectively, were the only indices to close with gains below 1.8 per cent.

Metal stock were the top performers once again and Hindalco was at the top of the list with gains
of over 7.7 per cent. Sterlite Industries and SAIL rose by more than 5 per cent. NTPC, which
rose by over 6.9 per cent was also among the top gainers. Other gainers include Suzlon Energy,
Reliance Industries, Tata Steel, Jaiprakash Associates and ICICI Bank. There were no losers
among the Sensex and Nifty stocks as all had ended the day in the green.

How OLM picks fared

Stock Price (Rs) % Change*

Aventis Pharma 1,569.00 2.87

Axis Bank 983.30 1.66
Bank of Baroda 508.20 0.87
Corporation Bank 414.80 -1.14
Cummins India 406.55 2.15
Hindustan Dorr-Oliver 162.00 2.69
Honeywell Automation (India) 2,159.40 2.19
ITC 253.65 2.75
Opto Circuits (India) 227.85 -0.42
Rolta India 190.45 2.67
JK Lakshmi Cement 68.40 0.66
ICSA (India) 179.85 5.42
IDFC 155.85 2.77
IPCA Labs 1046.10 0.69

*Over Dec 22

By Kavya Balaji