Sensex crosses 16000

Today's major news

Bharti Airtel joins race to tap mobile applications market; the stock rises 1.78%

Sadbhav Engineering bags Rs1,225-crore order; the stock closes the day 1.14% lower

Larsen & Toubro bags orders worth Rs582 crore; the stock surges 1.21%

Poly Medicure’s board recommends bonus issue; the stock jumps 3.75%

Goodyear India zooms on de-listing plan; the stock shoots up 20%.

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Post-market summary

Global signals

The European indices were quoting higher in morning trades led by mining stocks. At the time of writing this report FTSE 100 was trading up 0.50%.

All Asian indices except Nikkei (Japan) closed higher. SGX Nifty closed 19 points higher.

US stock futures opened higher on Tuesday after yesterday’s sharp fall.

Indian indices

Mixed cues from overseas markets saw the Sensex open merely 5 points higher at 15940 but soon turn negative to touch the day’s low of 15863. However, continuous buying in Infosys Technologies and Wipro led the Sensex recover past 16000 levels to touch the day’s high of 16094. The Sensex wrapped the session 106 points higher at 16042 and Nifty closed the session 32 points higher at 4793.

Market sentiment

The market breadth, the number of advancing shares to declining shares, was positive. Of the total 2,881 stocks traded on the BSE, 1,500 stocks advanced, whereas 1,302 stocks declined. Seventy nine stocks closed unchanged.

Sectoral & stock screening

On lack of investor interest, realty and oil and gas shares traded down, BSE Realty 1.21% down and BSE Oil & Gas marginally lower. Information technology (IT) stocks drew investor attention with the BSE IT (up 2.52%), BSE TECk (up 2.09%) and BSE PSU (up 1.67%) gaining the most.
The star stock was Hindustan Copper that was up by 10.00% to be followed by NMDC that surged by 9.30% and Lanco Infratech that rose 6.84%. Gujarat NRE Coke slid the most by 5.56%, followed by Petronet LNG that fell 2.92% and Indiabulls Real Estate that shed 2.84%.

Viewing volumes

Realty giant Unitech was the most actively traded share with over 0.76 crore shares changing hands on the BSE followed by Aluminum major Hindalco Industries (0.63 crore shares), Lanco Infratech (0.56 crore shares), Rashtriya Chemicals and Fertilisers (0.49 crore shares) and industrial finance company IFCI (0.45 crore shares).