Sensex sees 17200

Today's major news

Reliance Industries reopens petrol outlets; the stock rises by 0.81%.

Infosys Technologies may acquire European company; the stock surges 0.33%.

Indian Hotels Company may sell its hotel in Australia; the stock ends 0.76% higher.

J Kumar Infraprojects bags orders from Larsen & Toubro; the stock jumps up by 0.05%.

Suzlon Energy inks 42MW contract with Australian firm; the stock ends 1.82% lower.

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Post-market summary

Global signals

The rise in optimism on economic recovery front, after the US Federal Reserve's statement on Tuesday, doubled with surge in commodity stocks today and led the European stock markets open strong. Each of the markets was trading with gains of close to 0.7% at the time of writing this report.

Major Asian indices that opened mixed turned green except the Jakarta Composite that fell by 0.42%. SGX Nifty surged to 5115, up by 42 points.

The US stock index posted over 0.5% gains at the time of writing this report ahead of the thanksgiving holiday on Thursday, as investors await a slew of economic data that will be out today.

Indian indices

Sensex opened almost flat, merely 18 points higher at 17149. However as global indicators turned positive and recorded decent gains, the index surged. The market remained range-bound thereafter and swung by mere 166 points, losing the venom as seen in the recent past. However late buying in FMCG and oil & gas stocks helped the bellwether sustain the gains and close 68 points higher at 17199. Nifty closed at 5108, up by 18 points.

Sensex sentiment

The market breadth, the number of advancing shares to declining shares, was marginally negative. Out of 2,849 stocks traded on the BSE, 1,290 stocks advanced whereas 1436 stocks declined. Seventy-three stocks closed unchanged.

Sectoral & stock screening

Of the 13 sector indices, nine closed higher while four closed lower. Only BSE FMCG (up 1.44%), BSE Oil & Gas (up 1.09%)and BSE Realty (down 2.93%) were perceptibly up or down while the remaining 11 sector indices were either marginally up or down.

On stocks’ front, BPCL topped the chart surging by 6.88% followed by United Phosphorus (up 5.98%). Sintex Industries, Areva T&D and Crompton Greaves were up by over 5% each. Among losers, Indiabulls Real Estate slid the most by 5.00%, followed by Tech Mahindra that fell by 4.85% and HDIL that shed 4.55%.

Viewing volumes

On turnover front, Over 0.88 crore shares of Suzlon Energy changed hands on BSE followed by Unitech (0.80 crore shares), HDIL (0.39 crore shares), Indian Hotels Company (0.36 crore shares) and GVK Power & Infrastructures (0.34 crore shares).