Sensex jumps 94 points

Today's major news

Intel in talks with ITI for WiMAX joint venture: ITI’s stock ended the day 9.95% higher.

Punjab National Bank cuts retail loan rates; the stock ends 2.10% higher for the day.

Mahindra & Mahindra to launch motorcycle next year: the stock closed 1.03% up.

Fedders Lloyd secures an export order; the stock closed the session 4.94% higher.

Aurobindo Pharma gets USFDA approval, the stock end the day 1.20% higher

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Post-market summary

Global signals

On Thursday, the major US indices rose sharply by over 2% each on the back of bigger-than-expected drop in the jobless claims reported by the government and improved productivity reported by retailers. While the European indices ended the day in green with marginal gains recovering its early trade losses. In today's trade, the European indices opened weak and were trading in volatile and range-bound territory with mixed performance, wherein FTSE 100 is trading at 5135 with marginal gains of 9 points or 0.19% at the time of writing this report. Today, the traders in the US will be waiting for the announcement of the most important data i.e. non-farm payroll and unemployment rate.

In today's trading session, all the major Asian indices managed to sustain the morning gains and closed in green with gains in the range of 0.28-1.63% Shanghai Composite rose the least whereas Hang Seng jumped the most. SGX Nifty opened strong but ended the day with marginal gains of 23 points.

Indian indices

The Sensex surged for the third consecutive day on the back of positive global cues, however couldn't sustain at highs. The Sensex opened strong with gains of 74 points on the back of strong Asian cues, however as expected the volatility continued to hail wherein it swung over 210 points in day’s trade. However, the market in the mid-session lost all the gains and made the low of 16075 and ended the day with marginal gains of over 94 points owing to weak European opening. The positive developments on the divestment of all unlisted non-loss making public sector unit (PSU)’s front, helped the market to surge, wherein the PSU index jumped the most with gains of close to 4%.

The Sensex opened higher, surged from that point to see the high of 16284 in the early trades. However it ended the volatile day much lower and ended the day at 16158, gaining 94 points or 0.59% for the day.

The market rallied strongly on the back of heavy buying in PSU stocks owing to the buzz on the divestment front and realty heavyweights. Nifty gained 31 points to end the day at 4796, slightly below the important technical level of 4800.

Sensex sentiment

The market breadth was very positive, as out of 2,787 stocks traded on the BSE, 1,944 stocks advanced, whereas 780 stocks declined. Sixty-three stocks closed unchanged. The volumes rose across the board.

Sectoral & stock screening

Very much like yesterday all the indices closed in green except for BSE FMCG and BSE Auto, which fell by 0.95% and 0.06% respectively. BSE PSU advanced the most gaining 3.91% for the day, followed by BSE Realty that rose over 2.81%. All other indices ended the day higher in the range of 0.22% to 2.03%.

On stocks’ front, MMTC jumped the most and surged by 20.00%, followed by Rashtriya Chemicals and Fertilisers (RCF) that gained over 11.76%. Hindustan Copper and NMDC surged by 10% each. Among the losers, Idea Cellular fell the most-- by 5.51%, followed by Tata Power that slid 3.84%. Indiabulls Financials, PTC India, Ambuja Cement, Educomp Solutions and Hindustan Unilever declined by over 2% each.

Viewing volumes

On turnover front, Over 2.36 crore shares of Suzlon Energy changed hands on the BSE followed by IFCI (1.78 crore shares), Unitech (1.20 crore shares), Reliance Natural Resources (1.03 crore shares) and Ispat Industries (0.77 crore shares).