Nifty closes above 5100; RIL leads

Today's major news

Reliance Industries Ltd (RIL) submits bid to acquire US petrochemical firm LyondellBasell; RIL’s stock rises by 3.31%.

JK Lakshmi Cement to mop up Rs800 crore; the stock surges 1.95%.

Hindustan Copper raises discount rate on product; the stock ends 3.35% higher.

Emami eyes acquisitions; the stock rises 1.46%.

Pratibha Industries bags order worth Rs309 crore; the stock shoots 4.40%.

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Post-market summary

Global signals

On the back of buoyant oil and metal prices, European stocks that opened strong were trading with gains of over 1.5% at the time of writing this report.

Major Asian indices that opened mixed managed to turn green with the BSE Sensex surging the most and the Nikkei 225 dipping the most with a loss of 0.54%. SGX Nifty ended the day at 5110 with decent gains of 33 points.

Traders in US markets would be keenly waiting for existing home sales numbers for the month of October that will be out today.

Indian indices

Sensex opened 45 points higher and went to move higher as global indicators turned more positive, doubled with the buzz of RIL acquiring a US petrochemical firm that helped the Sensex heavyweight to jump by 3.31%. Sensex managed to stay in green through the day as oil and gas and fast moving consumer goods (FMCG) stocks shone.
Sensex hit the high of 17215 before closing at 17180 that is higher by 0.93% or 158 points. Nifty reclaimed the strong psychological level of 5100 and ended the day at 5104, up by 51 points.

Sensex sentiment

The market breadth, the number of advancing shares to declining shares, was positive, as out of 2,826 stocks traded on the BSE, 1,560 stocks advanced, whereas 1,178 stocks declined. Eighty eight stocks closed unchanged.

Sectoral & stock screening

Out of the 13 sectoral indices, only four were down and that only marginally. BSE Oil & Gas topped the list with gaining sectors being up by 2.55% followed by BSE FMCG that rose 2.05%. BSE Metal and BSE HC were up by over 1% each. Among losers, BSE TECK fell the most by 0.87% followed by BSE IT that was down by 0.30%.

On stocks’ front, GMDC topped the chart of gaining shares surging by 17.19% for the day to be followed by Hindustan Zinc (up 9.23%). Divis Laboratories and HCL Technologies were up by over 5% each. Among losers, Balrampur Chini Mills slid the most by 6.12%, followed by Bharti Airtel that fell by 4.48%, GE Shipping that shed 3.48% and Mphasis that was down by 3.20%.

Viewing volumes

On turnover front, Over 0.93 crore shares of Suzlon Energy changed hands on BSE followed by GMDC (0.70 crore shares), Unitech (0.69 crore shares), Ispat Industries (0.50 crore shares) and Bharti Airtel (0.45 crore shares).