MUMBAI: Persistent buying by institutional and retail investors helped the stock market indices breach on the upside their key technical levels on Wednesday. Realty, capital goods and power stocks fronted the rally, followed by healthcare and banking. IT was the only sector which closed in negative territory following Q4 Infosys results.

Though the IT bellwether’s result was in line with street expectations, its share fell 2.5 per cent. Operating margin of Infosys shrank by 154 basis points to 33.5% from the previous quarter. However, net margin expanded by 26 bps to 28.6% thanks to other income of Rs 252 crore. Infosys guided a fall 3.3-7.6% in FY10 earnings per share to Rs 96.65-Rs 101.18. It sees revenue between Rs 22,066 crore and Rs 22,928 crore, a growth of 1.7-5.7%.

National Stock Exchange’s Nifty advanced 3.35 per cent or 113.45 points to close at 3496.05. The 50-share index rose to a high of 3497.55 during the day.

Bombay Stock Exchange’s Sensex ended at 11323.25, up 356.03 points or 3.25 per cent from Monday’s close. The index soared to a high of 11337.75 after opening at 10805.14. Market was closed Tuesday for Ambedkar Jayanti.

Midcaps and smallcaps outperformed the key benchmark. The BSE Midcap Index jumped 4.10 per cent and the BSE Smallcap Index soared 5.34 per cent.

Biggest index gainers were DLF (10.56%), BHEL (10.41%), Tata Motors (9.97%), ICICI Bank (8.65%) and Reliance Infra (8%), while Infosys (-3.13%), TCS (-1.81%) and ITC (-0.88%) were the biggest losers.

Market breadth was strong with 2,177 advances against 463 declines on the BSE.

(All figures provisional)

source: Economictimes

Tags: DIIs, fiis, market, realty, sensex, sensex 11000, technicalnse

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