Sensex ends higher; Hindalco soars

The Sensex ended on a higher note today supported by heavyweights Hindalco Industries, Sterlite and State Bank of India. Metal and oil & gas stocks were in the limelight, whereas FMCG, auto and realty stocks underperformed. The base metals pack was up today as the prices of metals rose in the international market.

After a significant rally yesterday, the Sensex opened flat with a gain of 14.24 points, at 16,030.56 on Tuesday on mixed global cues. The index proceeded to trade in the positive the entire day. Later it pared some of its gains due to profit booking at higher levels amid volatility. Finally, the Sensex closed on a positive terrain touching a high of 16,232.16.

BSE Midcap and Smallcap index declined 0.42% and 0.15% respectively.

Among the sectoral indices, BSE Metal and Oil & gas advanced over 2% each, while FMCG declined 1.15%, Auto dipped 0.97% and Realty declined 0.93%.

Asian stocks rose as Australian business confidence jumped, computer-memory prices gained and gold rose above USD 1,000 an ounce. Japanese benchmark index Nikkei gained 72.29 points, or 0.70%, to end at 10,393.23. Hong Kong`s Hang Seng index climbed 440.50 points, or 2.14%, to close at 21,069.81. China`s Shanghai Composite increased 49.36 points, or 1.71% to settle at 2,930.48.

European stocks advanced as commodity producers climbed with metal prices and investors speculated that mergers will increase. UK`s benchmark index FTSE 100 rose 28.90 points, or 0.59%, to trade at 4,962.08. French benchmark index CAC 40 gained 9.23 points, or 0.25%, to trade at 3,662.20. Germany`s benchmark index DAX increased 23.41 points, or 0.43%, to trade at 5,486.02. (4.25 p.m)

The Sensex ended the day with a gain of 107.35 points, or 0.67% at 16,123.67 after touching a high of 16,232.16 and a low of 16,030.56. The broad-based NSE Nifty gained 22.35 points, or 0.47% at 4,805.25 after hitting a high of 4,842.20 and a low of 4,782.65

Major gainers in the 30-share index were Hindalco Industries (6.05%), Sterlite Industries (India) (4.78%), State Bank Of India(4.36%), Reliance Industries (3.73%), Reliance Infrastructure (3.72%), and Tata Steel (3.24%).

On the other hand, Tata Power Company (3.07%), Hindustan Unilever (2.66%), Mahindra & Mahindra (2.39%), Reliance Communications (2.26%), Maruti Suzuki India (2.16%), and Reliance Capital (1.06%) were the major losers in the Sensex.

Overall market breadth was mixed. Out of the total 2,889 stocks traded at BSE, 1,362 advanced, 1,461 declined while 66 remained unchanged.