Sensex closes firm; Sterlite zooms 13.78%

The Sensex ended on a firm note led by metal stocks, consumer goods, realty and banking stocks. It belled the day above 12,000 mark with a gain of 111.76 points, at 12,064.51 on reports that US bank stress tests will reassure investors. It proceeded to trade higher through the day on sustained buying interest seen in frontline stocks, touching a high of 12,143.95.

Secondline stocks also supported the sentiment. BSE Midcap and Smallcap index rose 2.75% and 2.66% respectively.

Amongst the sectoral indices, BSE Metal gained the most. The counter soared 8.22% followed by Consumer durables, which surged 3.72%, Realty and Bankex rose over 1% each, while FMCG declined 0.71%.

On global front, Asian stocks jumped to a seven-month high on better-than-estimated US and Australian jobs reports and an assurance from US Treasury Secretary Timothy Geithner that none of the country`s biggest banks are insolvent. Nikkei gained 408.33 points, or 4.55%, to end at 9,385.70, Hang Seng index advanced 383.32 points, or 2.28%, to close at 17,217.89 and Shanghai Composite went up 4.93 points, or 0.19%, to settle at 2,597.45.

European stocks rose, on speculation that banks don`t need as much capital as had been projected amid signs the worst of the recession may be over. FTSE climbed 105.29 points, or 2.39%, to trade at 4,501.78, CAC 40 gained 59.13 points, or 1.80%, to trade at 3,342.64 and DAX rose 73.18 points, or 1.50%, to trade at 4,953.89. (3.59 p.m., IST)

The Sensex ended the day with a gain of 164.19 points, or 1.37% at 12,116.94 after touching a high of 12,143.95 and a low of 11,981.13. The broad-based NSE Nifty climbed 58.85 points, or 1.62% at 3,683.90 after hitting a high of 3,692.05 and a low of 3,617.15.

Major gainers in the 30-share index were Sterlite Industries (India) (13.78%), Hindalco Industries (11.25%), Tata Steel (8.76%), Wipro (5.80%), Housing Development Finance Corporation (3.86%), and Maruti Suzuki India (3.72%).

On the other hand, Mahindra & Mahindra (2.83%), ACC (2.44%), Hindustan Unilever (1.68%), Grasim Industries (1.47%), NTPC (1.34%), and ITC (1.25%) were the major losers in the Sensex.

Overall market breadth was positive. Out of the total 2,616 stocks