Sensex, Nifty gain over 2% at close

Indian equities ended on buoyant note helped by positive results of many large cap companies like Maruti Suzuki, ITC and ACC along with news six core industries registered a growth of 6.5% in June this year against 5.1% in the same month last year.

The rise in core industries was on account of improved production in cement, coal, crude oil and electricity. During April-June this fiscal, the core industries grew by 4.8% compared to 3.5% in the corresponding period the previous year.

On the global front, Asian stocks rose led by automakers and technology companies, as a weaker yen boosted the prospects for Japanese export earnings and US housing prices unexpectedly gained.

Japanese benchmark index Nikkei rose 69.78 points, or 0.72%, to end at 9,792.94 while Hong Kong`s Hang Seng index gained 569.53 points, or 2.96%, to finish at 19,817.70.

European stocks gained and US index futures advanced, pushing the MSCI World Index to the longest stretch of gains since 2003, as companies from Roche Holding to ABB reported earnings that beat estimates.

UK`s benchmark index FTSE 100 fell 9.11 points, or 0.20%, to trade at 4,484.62 .

French benchmark index CAC 40 declined 22.16 points, or 0.67%, to trade at 3,282.70 .

Germany`s benchmark index DAX gained 9.38 points, or 0.18% to trade at 5,111.30. (4:29 p.m).

Futures on the S&P 500 fell by 2.20 points to 951.60 at 4:30 p.m. Dow Jones Industrial Average futures dropped by 19 points to 8,852. Nasdaq-100 Index futures decreased 3.75 points to 1,560.25.

Inflation:

India`s benchmark wholesale price index (WPI), annual inflation stood at -1.17% for the week ended July 11, 2009 as compared -1.21% a week ago

The Sensex ended the day with a gain of 387.92 points, or 2.61% at 15,231.04 after touching a high of 15,264.84 and a low of 14,997.75. The broad-based NSE Nifty gained 124.85 points, or 2.84% at 4,523.75 after hitting a high of 4,532.40 and a low of 4,405.95.

Major gainers in the sectoral indices were BSE Realty (5.08%), Consumer Durables (4.47%), Metal (4.32%), FMCG (3.95%) and Auto (3.87%). There were no major losers in the 30-share index.

Biggest gainers in the 30-share index were Reliance Energy (6.91%), DLF (6.77%), Maruti Suzuki India (6.44%), Hindalco Industries (6.08%), ACC (5.80%), and ITC (5.55%).

On the other hand, Bharti Airtel (1.09%), and Oil & Natural Gas Corporation were the only major losers in the Sensex.

Overall market breadth was positive. Out of the total 2,718 shares traded at BSE, 1,803 advanced, 835 declined while 80 remained unchanged.