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Sensex soars 400 pts; ONGC, Idea, UltraTech top gainers

Bulls kept complete control over Dalal Street today. The Sensex extendedrally, up 401.19 points or 1.46 percent at 27859.83 and the Nifty surged 111.50 points or 1.34 percent to 8452.90.

The broader markets also gained further with the BSE Midcap and Smallcap indices rising 1.6 percent and 2.8 percent, respectively. About 1911 shares have advanced, 723 shares declined, and 133 shares are unchanged on the BSE.

UltraTech Cement, Idea Cellular, ONGC, ITC, Bharti Airtel and Coal India topped the buying list on Sensex, up 3-4 percent.

HDFC gained 2.5 percent after Keki Mistry that with regards to HDFC Life the timing or amount of IPO is not decided yet and Standard Life will want to increase stake in HDFC Life but the quantum is not decided. Separately, they see scope of further 25 to 50 bps rate cuts but don't expect any movement on April 7.

Shares of HDFC Bank, L&T, Axis Bank, ICICI Bank, TCS, SBI, HUL, Wipro, Hero Motocorp and Tata Steel climbed 1-2 percent whereas Reliance Industries, Hindalco Industries and Tata Power remained under pressure. More information please visit this site www.shristocktips.com  

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A close beyond 10,400 levels with healthy volumes can pause the current bearishness triggering a short covering to levels of 10,640-10,730.

The Nifty index Futures continued to slide lower for the second month in a row making it 10 percent decline from the record highs. Further, it has broken down from a broadening wedge pattern along with a close below the 200-DMA, affirming weakness dominant in the markets at the moment.

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Arvind Ltd: SELL| Target Rs345| Stop Loss Rs410| Return 11%

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Reliance Infra arm moves Delhi HC over arbitration award against DMRC; stock up 5%

Subsidiary Delhi Airport Metro Express has moved the Delhi High Court seeking execution of the Arbitration award it had won against Delhi Metro Rail Corporation.
Reliance Infrastructure share price rallied 5 percent intraday Tuesday after the company's subsidiary DAMEPL has moved the Delhi High Court over the execution of Arbitration award against DMRC.

"...subsidiary Delhi Airport Metro Express Pvt. Ltd. (DAMEPL) has moved the Delhi High Court seeking execution of the Arbitration award it had won against Delhi Metro Rail Corporation (DMRC)," the company said in its filing.

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