Srong Buying support - Sensex 928 points up,Nifty 268 Points up

Sensex did see biggest single day point rally since 25th Jan 2008. Second biggest single day point rally for Sensex. Sensex was up 928 pts at 16217. Nifty was up 268 pts at 4878.
CNX Midcap Index was up 6.2%, BSE Small cap Index was up 4.8%. All sectoral indices ended in green and above 2%. BSE Realty Index was up 10.8% DLF up 13.1%, Unitech up 10.2%. BSE Bank Index was up 8.6% ICICI Bank up 9.6%, SBI up 5.8%, HDFC Bank up 5.4%, PNB up 5%. BSE IT Index was up 8% Infosys up 9.7%, Wipro up 9.4%, TCS up 6.4%, Satyam up 5.6%. BSE Metals Index was up 6.8%; Tata Steel up 7.6%, SAIL up 7.2%, Hindalco up 5.9%. BSE Oil & Gas Index was up 6.5%; ONGC up 7.5%, Cairn up 6.8%, Reliance up 5.2%. BSE Capital Goods Index was up 4.9%; BHEL up 7.4%, ABB up 4.8%, Siemens up 4.1%. Non Index Gainers were stocks like Edelweiss Capital, Aptech, Yes bank, Orbit Corp, Indiabulls Fin all up over 20%. Mercator Lines, Guj NRE Coke, NIIT Tech, Reliance Capital, Educomp, JP Associates all up over 15%. NSE Advance Decline is 1:8. Total Turnover stood at Rs 87,660 Cr.
F&O SnapshotNSE
F&O Turnover was up 56% at Rs 66627.6 cr vs 42610 cr in yesterday's trade. Rollover did pick up significantly. Marketwide Rollover stood at 34% (prov) from 21% yesterday. Nifty Rollover was at 35% (prov) from 28% yes. Cement, Banking, IT stocks see the strongest Rollovers. Huge Open Interest buildup were seen in stock futures. Initial short covering did give way to long buildup across the board.
Biggest Movers:
Biggest Movers were seen in stocks like Aptech was up 23%. It added 1.61 lakh shares in April. Edelweiss Capital was up 23% on short covering. It sheded 1 lakh shares in April. NIIT Tech was up 21% adding 5.5 lakh shares in April. The rollover stood at 26%. TVS Motor was up 19%. It added 15.84 lakh shares in april The rollover stood at 44%. Reliance Capital was up 19% It added 6.4 lakh shares in April.
Strong Rollovers:
Strong Rollovers were seen in stcoks like Ultratech Cemement 67%, India Cem 63%, Bharat Forge 62%, Jindal Stainless 58%,Hindalco 58%, Chennai Petro 58%, PNB: 57%.
Fresh Longs/Long Rollovers:
Fresh Longs/Long Rollovers were seen in Cement stocks like Ultratech Cement , India Cemement. Among Metals stock like Jindal Stainless, Hindalco. In Banking stocks like PNB, Axis Bank, BoB. In Misc stocks like GMR Infra, Chennai Petro, Aurobindo Pharma, TVS Motor, Satyam Comp, Hotel Leela, IFCI, Ispat , Cairn, Balrampur Chini, Arvind Mills.
Asia Today
Asian markets ralled as US home sales data eased worries. Hong Kong & India lead in Asian Indices. Hang Seng, Sensex up nearly 6%. Financial lead the rally. ICBC & Bank of China earnings topped expectation. Cheered by JPMorgan's increasing their bid for Bear Stearns’s, better than expected existing home sales data.

ICBC & Bank of China resultsBank of China booked $ 1.3 billion loss due to U.S. subprime-related securities. Held around US $4.99 billion worth of subprime-related asset-backed securities at the end of 2007.

ICBC booked $ 400 Million loss due to U.S. subprime-related securities. Held around US $ 1.39 worth of subprime-related asset-backed securities (ABS) at the end of 2007.
Taiwan FlowsAmong Taiwan markets FIIs were net buyer in equities worth $ 575.6 Million in today’s trade (Prov). FIIs bought equities worth $ 1.78 billion in yesterday's trade. Opposition’s leader won presidential election, boosted prospects of improved trade with China.
Data To Watch
U.S. Consumer Confidence Report.