<p>The stock market, on Wednesday, witnessed a huge rally on the back of </p>.<p>positive global cues and Prime Minister’s meeting with key ministries later in the day which was expected to result in fresh steps to boost the sagging infrastructure sector.<br /><br />Also market pundits feel the RBI may go for a maximum repo rate cut of 50 basis points instead of 25 bps in its policy meet on June 18, led to strong buying demand for interest rate sensitive counters like banking. The market breadth was strong. All the 13 sectoral indices on BSE were in the green, while index heavyweight Reliance Industries (RIL) edged higher.<br /><br />Even as experts did not expect any rate cut at the European Central Bank’s meet on Wednesday, they are looking for some indication from ECB for revival in euro zone economic growth.<br /><br />Besides, gains in world stocks aided investor sentiment on D-Street pushing up BSE Sensex to 16,454, up 434 points and the NSE Nifty closed at 4997, up 134 points. <br /><br />For Sensex, it was the biggest gain since January 3, 2012, when it had gained 421 points. Yet, analysts describe it as a “pullback” rally saying it may not last. “Markets were oversold, so the rally was expected, but fundamentals have not changed,” said Radhika Gupta of Forefront Capital. The market breadth, indicating the overall health of the market, was strong with as many as 1,849 shares on BSE rising and 894 shares falling. <br /><br />Meanwhile, during the day, Japan’s Nikkei average rose on recovering further from the Monday’s six-month closing low as investors looked to policy makers to counter the euro zone crisis. Australian and US data also offered some positive news. Hang Seng, Kospi, Taiwan and Strait Times ended 1-2 per cent higher.<br /><br />European shares and the euro gained on Wednesday as the acute financial problems in Spain and recent data confirming a widespread economic slowdown across Europe fuelled hopes that the region’s central bank would respond with stimulus measures. CAC, DAX and FTSE have gained between 1-2 per cent.<br /><br />Infrastructure stocks gain <br /><br />Meanwhile, shares of infrastructure companies witnessed handsome gains ahead of a key meeting to be chaired by Prime Minister Manmohan Singh to review the progress of infrastructure projects in the country.<br /><br />Among individual stocks, GMR Infrastructure surged by 11.08 per cent to settle at Rs 21.55 on the BSE and the scrip of IVRCL Infra jumped by 7.31 per cent to close at Rs 41.85.<br /><br />IRB Infrastructure Developers increased 6.86 per cent to end the day’s trade at Rs 122.20, while Lanco Infra swelled by 6.6 per cent to Rs 13.09, Larsen & Toubro moved up by 4.77 per cent to Rs 1,267.25 and Reliance Infra grew by 4.95 per cent to Rs 470.70.<br /><br />Surge in the infra stocks were in sync with gain in the broader market. <br /><br />“The counters of infrastructure stocks rallied on reports that indicated that the Prime Minister is meeting to discuss expediting infrastructure projects that have been delayed,” said Kotak Securities Vice-President (PCG) Sanjeev Zarbade.<br /><br />In the meeting, the ministers may take up issues related to aviation sector. The scrip of Kingfisher Airlines climbed 17.33 per cent, Spicejet went up by 6.54 per cent and Jet Airways gained 5.55 per cent.</p>.<div><div>hanges.</div></div>
<p>The stock market, on Wednesday, witnessed a huge rally on the back of </p>.<p>positive global cues and Prime Minister’s meeting with key ministries later in the day which was expected to result in fresh steps to boost the sagging infrastructure sector.<br /><br />Also market pundits feel the RBI may go for a maximum repo rate cut of 50 basis points instead of 25 bps in its policy meet on June 18, led to strong buying demand for interest rate sensitive counters like banking. The market breadth was strong. All the 13 sectoral indices on BSE were in the green, while index heavyweight Reliance Industries (RIL) edged higher.<br /><br />Even as experts did not expect any rate cut at the European Central Bank’s meet on Wednesday, they are looking for some indication from ECB for revival in euro zone economic growth.<br /><br />Besides, gains in world stocks aided investor sentiment on D-Street pushing up BSE Sensex to 16,454, up 434 points and the NSE Nifty closed at 4997, up 134 points. <br /><br />For Sensex, it was the biggest gain since January 3, 2012, when it had gained 421 points. Yet, analysts describe it as a “pullback” rally saying it may not last. “Markets were oversold, so the rally was expected, but fundamentals have not changed,” said Radhika Gupta of Forefront Capital. The market breadth, indicating the overall health of the market, was strong with as many as 1,849 shares on BSE rising and 894 shares falling. <br /><br />Meanwhile, during the day, Japan’s Nikkei average rose on recovering further from the Monday’s six-month closing low as investors looked to policy makers to counter the euro zone crisis. Australian and US data also offered some positive news. Hang Seng, Kospi, Taiwan and Strait Times ended 1-2 per cent higher.<br /><br />European shares and the euro gained on Wednesday as the acute financial problems in Spain and recent data confirming a widespread economic slowdown across Europe fuelled hopes that the region’s central bank would respond with stimulus measures. CAC, DAX and FTSE have gained between 1-2 per cent.<br /><br />Infrastructure stocks gain <br /><br />Meanwhile, shares of infrastructure companies witnessed handsome gains ahead of a key meeting to be chaired by Prime Minister Manmohan Singh to review the progress of infrastructure projects in the country.<br /><br />Among individual stocks, GMR Infrastructure surged by 11.08 per cent to settle at Rs 21.55 on the BSE and the scrip of IVRCL Infra jumped by 7.31 per cent to close at Rs 41.85.<br /><br />IRB Infrastructure Developers increased 6.86 per cent to end the day’s trade at Rs 122.20, while Lanco Infra swelled by 6.6 per cent to Rs 13.09, Larsen & Toubro moved up by 4.77 per cent to Rs 1,267.25 and Reliance Infra grew by 4.95 per cent to Rs 470.70.<br /><br />Surge in the infra stocks were in sync with gain in the broader market. <br /><br />“The counters of infrastructure stocks rallied on reports that indicated that the Prime Minister is meeting to discuss expediting infrastructure projects that have been delayed,” said Kotak Securities Vice-President (PCG) Sanjeev Zarbade.<br /><br />In the meeting, the ministers may take up issues related to aviation sector. The scrip of Kingfisher Airlines climbed 17.33 per cent, Spicejet went up by 6.54 per cent and Jet Airways gained 5.55 per cent.</p>.<div><div>hanges.</div></div>
