As ‘Agreekment’s struck, Dalal Street joins the party!

Stocks staged a runaway rally as the Greece-EU deal on debt payments, a global sore point for stocks, became a reality post noon. The Nifty and the Sensex posted gains in excess of a 1.1 percent each and broke away from a constricting trading range.

The Nifty added 99 points to end the day at 8,459. Its Advance-Decline Ratio stood at 46/3 compared with 25:24 at the start of trade today. HCL Tech, BPCL, IndusInd Bank and Zee were the top gainers on the Index, while ONGC, Larsen & Toubro and Bank of Baroda lost ground.

Similarly, the Sensex closed with gains of 300 points at 27,961. Its Advance-Decline Ratio was 28/2 and GAIL, Maruti, and NTPC lead the gainers list, while on the losers' side were ONGC and Larsen. The bulls were firmly in control in the broader market with 1,785 stocks gaining compared with 1,011 that lost.

The rally was extremely broad based with indices from the media, software, and metals space posting smart gains. Eventually, the final picture looked like this:

CNX Media Index leapt 3.1% to 2,282
CNX IT Index rallied 1.9% to 10,998
Bank Nifty rose 0.9% to 18,893
CNX 100 Index added 1.2% at 8,560
CNX Mid Cap Index rose 1.3% to 13,433
CNX Small Cap Index up 1.1% to 5,546


Huhtamaki Paper: This packaging company controlled by Finnish giant Huhtamaki ended at a fresh closing high of 319 rupees, up 34.50.

Maruti: CLSA flagged off a research report with a price target of `4,450 per share, prompting the stock to rise 103 rupees at 4,037 rupees.

Asian Paints: Its Labour woes at its Sriperumbudur plant came to an end. The stock rejoiced with gains of 24 rupees at 819.

Eicher Motors rose 400 rupees to 21,165 rupees after the firm said its monthly bike sales will hit 56,000 units in December from an average 36,500 now.

(Image credit: Indiatimes)