Sensex ends strong; breaks 4-day losing streak

Sensex after snapping four-day losing streak, ended on a higher note.The Sensex ended on a higher note with gains led by auto, metal, capital goods and oil & gas stocks. Broader markets also performed well.

It opened flat with a gain of 27.53 points, at 15,425.86 on Friday on mixed global cues. After trading in a narrow range, the index fell into the negative terrain due to profit taking seen at higher levels. However, in the second half, it made a smart recovery by surging over 300 points on vigorous buying seen in frontliners and opening of positive European markets, which boosted the sentiment. It proceeded to rule in green for the rest part of the day, thus closing on a strong note, after hitting a high of 15,740.83.

BSE Midcap and Smallcap index rose 1.08% and 1.07% respectively.

On sectoral front, BSE Auto, Metal, Capital goods and Oil & gas advanced over 2% each, FMCG, Bankex and Power rose over 1%, IT was up 0.48%.

European stocks rose for a second day as metals rallied and strategists increased their year-end forecasts for the region`s equity indexes. UK`s benchmark index FTSE 100 rose 42.65 points, or 0.88%, to trade at 4,839.07. French benchmark index CAC 40 gained 16.55 points, or 0.47%, to trade at 3,570.06.Germany`s benchmark index DAX increased 42.28 points, or 0.80%, to trade at 5,343.47. (4.15 p.m)

The Sensex ended the day with a gain of 290.79 points, or 1.89% at 15,689.12 after touching a high of 15,740.83 and a low of 15,358.94. The broad-based NSE Nifty climbed 86.85 points, or 1.89% at 4,680.40 after hitting a high of 4,697.20 and a low of 4,580.35.

Major gainers in the 30-share index were Mahindra & Mahindra (6.21%), Hero Honda Motors (4.20%), Sterlite Industries (India) (3.86%), Larsen & Toubro (3.47%), Housing Development Finance Corporation (3.26%), and Oil & Natural Gas Corporation (3.09%).

On the other hand, Tata Motors (0.31%), and Tata Consultancy Services (0.23%) were the major losers in the Sensex.

Overall market breadth was positive. Out of the total 2,831 stocks traded at BSE, 1,576 advanced, 1,162 declined while 93 remained unchanged.