It was another excellent session as the market ended the wek with a good rally today. The Bombay Stock Exchange 30-share index closed on a strong note for second consecutive day, on significant buying across various sectors.

The BSE Sensex closed higher by 194.06 points at 11,329.05 while NSE Nifty ended up by 57.05 points at 3,480.75. The Sensex touched intraday high of 11,362.88 and intraday low of 11,070.33.

Further, BSE Mid Caps and Small Caps also settled the day with gains of 65.91 and 68.48 points at 3,600.09 and 4,068.26 respectively. Broader market outperformed Sensex stocks today, which will offer relief to many small investors trapped in mid cap companies.

In the morning, stock market opened on a flat and quiet note in the steps of mixed global cues. But after an hour of opening, the market turned volatile, due to weak sentiments coming from most the Asian counterparts.

The domestic benchmark continued to trade in range bound way with volatility till afternoon, as investors were seen cautious on trading due to F&O expiry and upcoming corporate earnings.

However, the market rallied sharply following firm cues from European markets during last hour of trading.

Today most of the buying was witnessed in Banks (+2.77%), Consumer Durables (+2.32%), Capital Goods (+2.04%), Teck (+1.87%), Auto (+1.67%), Power (+1.49%), Oil & Gas (+1.14%), Metal (1.11%) and Reality (+1.00%) stocks.

However, Health care (+0.89%), PSU (+0.81%), (+0.26%), and FMCG (+0.07%) stocks remained out of favour, and ended the day with little buying interest.

Gainers from the BSE Sensex pack were M&M Ltd (7.01%), JP Associates (6.07%), Grasim Industries (5.68%), Bharti Airtel (5.47%), ACC Ltd (4.88%), Reliance Infra (3.72%), RCom (3.57%), Tata Power (3.38%) and SBI (3.33%).

Losers from the BSE Sensex pack were Ranbaxy Lab (2.42%), HUL (0.87%), Tata Steel (0.70%), NTPC Ltd (0.34%) and Wipro Ltd (0.34%).

It should be noted that this is the seventh week consecutive gain for the benchmark indices. On a weekly basis Sensex was up 2.78% and Nifty up 2.85%.

The market is expected to remain volatile next week as April contracts of Future & Options will expire on Thursday, one day earlier, due to holiday on 30th April.

The stock market will remain closed on 30th April 2009 due to voting for the parliamentary elections in Mumbai.