Sensex ends in green; Tata Motors surges

The Sensex ended the volatile session with modest gains led by IT, teck, metal and auto stocks, while realty, banking and PSU stocks dipped. It opened flat with a loss of 10.21 points, at 16,866.95 on Wednesday following mixed global cues. The index continued to trade in red for the first half, touching a low of 16,777.94. Volatility was witnessed during the next half as the Sensex was gyrating between zone owing to alternative bouts of buying and selling to finally close in the green.

BSE Midcap and Smallcap index rose 0.22% and 0.34% respectively.

The Sensex ended the day with a gain of 35.61 points, or 0.21% at 16,912.77 after touching a high of 16,996.12 and a low of 16,777.94. The broad-based NSE Nifty climbed 9.00 points, or 0.18% at 5,042.05 after hitting a high of 5,067.25 and a low of 5,001.80.

European stocks advanced as the Dow Jones Stoxx 600 Index headed for a fifth day of gains, its longest winning streak since September. US stock-index futures rose. UK`s benchmark index FTSE 100 advanced 31.47 points, or 0.62%, to trade at 5,318.02. French benchmark index CAC 40 gained 35.17 points or 0.92% to trade at 3,869.88. Germany`s benchmark index DAX rose 74.54 points or 1.29% to trade at 5,886.55 (4.30 pm)

Asian stocks end on a negative note but Japanese banks advanced on speculation they`ll have at least a decade to implement stricter capital rules, and Chinese lenders fell after a regulatory official said bad loans pose a long-term risk. Japanese benchmark index Nikkei 225 gained 93.93 points, or 0.93%, to end at 10,177.41. Hong Kong`s Hang Seng fell 202.18 points, or 0.93%, to end at 21,611.74. China`s Shanghai Composite decreased 19.25 points, or 0.59% to end at 3,255.21.

Major gainers in the 30-share index were Tata Motors (3.08%), Mahindra & Mahindra (2.86%), Bharti Airtel (2.83%), Tata Steel (2.13%), Wipro (1.96%), and Tata Consultancy Services (1.84%).

On the other hand, Jaiprakash Associates (2.23%), State Bank Of India(1.29%), ITC (1.01%), Hindustan Unilever (0.66%), Bharat Heavy Electricals (0.61%), and Maruti Suzuki India (0.53%) were the major losers in the Sensex.

Overall market breadth was mixed. Out of the total 2,890 stocks traded at BSE, 1,411 advanced, 1,391 declined while 88 remained unchanged.

Among the sectoral indices, BSE IT which rose 1.64%, TECk climbed 1.59%, Metal rose 0.84%, Auto climbed 0.83% and HC rose 0.66%, while BSE Realty fell 1.21%, Bankex declined 0.56%, PSU declined 0.54%, FMCG fell 0.42%.

``The market looks little better than what it looked yesterday. The long term trend remains up. The market is expected to move in a range of 4,950 to 5,150,`` said Avinash Gupta, vice president, Research Equity, Bonanza Portfolio while commenting on the market outlook.