Sensex inches towards 16k

Ashok Leyland’s October 2009 volumes increased by 57% year on year; the stock ends 2.49% higher.

Vishal Retail inks CDR pact for Rs730 crore; the stock ends the day 2.02% up.

Reliance Communications joins per-second billing war; the stock ends 2.08% higher.

Tata Chemicals launches i-Shakti cooking soda; the stock is up by 2.17%.

Mahindra Satyam ties up with defense firm Saab; the stock ends the day 4.24% higher.

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Post market summary

Global signals

* The day started with the mixed bag overnight performance by the US markets and weak cues from the European indices. While the European indices that opened strong today helped the Sensex to surge higher. The major European indices were trading higher with marginal gains, wherein FTSE 100 was trading at 5071 with gains of 34 points or 0.68%, at the time of writing this report.
* In today's trading session, all the major Asian indices closed in green with gains in the range of 0.46-3.29%, wherein the Sensex rose the most, followed by Taiwan Weighted that was up by 1.97%. The Shanghai Composite that outperformed other Asian indices in the last few days rose the least. SGX Nifty that opened strong ended the day with heavy gains of 172 points, erasing yesterday’s losses.

Indian indices

* Are the bulls back on the Dalal Street? It is still uncertain and too early to say. However after six consecutive sessions of losses, the domestic stock market surged by over 500 points that piggy backed the performance of the global indices, which rallied strongly today. As expected, the bellwether opened stronger today owing to positive cues from the Asian markets.
* The Sensex opened gap-up with gains of 83 points, and never saw this level in the day’s trade. It surged further from that point and made a high of 15929 in the closing trades. However it closed slightly lower from that highs and ended the day at 15912, gaining 507 points or 3.29% in intra-days trade and closed above the significant psychological level of 15900, inching closer to 16000 level.
* The market rallied strongly on the back of heavy buying in realty, metal and information technology (IT) stocks, erasing its yesterday's losses. Nifty gained 146 points to end the day at 4710, above 4700, an important level on technical front.

Sensex sentiment

* The market breadth was very positive, as out of 2,779 stocks traded on the BSE, 1,774 stocks advanced, whereas 946 stocks declined. Fifty-nine stocks closed unchanged. The volumes rose across the board.

Sectoral and stock screening

* Among the sectoral indices, every index closed in green today, after yesterday’s all red. BSE Realty advanced the most with gains of 9.65%, followed by BSE Metal that rose over 5.36%. Other sectoral indices ended the day higher in the range of 1.04% to 3.99%.
* On the stocks front. Indiabulls Real Estate jumped the most, surging by 15.76%, followed by Educomp Solutions that gained over 15.55%, Religare Enterprises, Unitech and HDIL surged by over 10% each. Among the losers, Suzlon Energy fell the most by 5.32%, followed by Union Bank that slid by 1.46% and Cummins India that was down by 1.17%.

Viewing volumes

* On the turnover front, over 3.27 crore shares of Suzlon Energy changed hands on the BSE followed by Unitech (1.79 crore shares), Reliance Natural Resources (1.05 crore shares), Ispat Industries (0.81 crore shares) and IFCI (0.54 crore shares).