EU emergency aid lifts markets in green

Today's major news

Modest debut for Talwalkars Better Value, the stock rises 27.03%

Pratibha Industries wins Rs100-crore project, the stock jumps 4.78%

Jubilant Organosys FY10 net profit up 39.25%, the stock closes 2.44% higher

Click here for more stories

Global signals

European stocks rebound from the last week’s sell-off on $1 trillion rescue package to stabilise the Euro agreed by global policymakers boosting investor sentiment. As of writing of this report, FTSE 100 was trading higher by 5.03%.

All the major Asian indices closed in the positive territory. SGX Nifty closed 163 points higher.

US stock futures signal strong opening on the Wall Street after falling sharply in the last week as global policymakers came up with an emergency rescue package, which aimed at preventing Greece' debt crisis from spreading through the euro zone countries.

Indian indices

What a stunning comeback for the Indian market! The market was waiting for a sigh of relief as sentiments had got disrupted due to contagion Greece’ debt worries. Last week the market was in a strong bear grip and bulls scampered for cover. But, today the bulls made an about-turn and broke its five-day losing streak as European Union and International Monetary Fund agreed to a massive rescue package to control Greece' debt crisis spreading to other Euro zone countries. This lifted the market sentiments and boosted investors’ confidence that led to a massive rally across the globe.

Taking leads from the strong Asian markets, the Sensex opened 30 points higher at 16799 and this was also its day’s low. The gains widened further and bulls continued their northward journey through out the session. The global policymakers coming up with an emergency rescue package aiming at preventing Greece' debt crisis, led the world equities to zoom and also the support from robust buying in heavyweights like Reliance Industries and ICICI Bank, realty and metal stocks helped the Sensex to reclaim its significant 17000 levels. In afternoon session, European markets opened with huge gains which lifted sentiments more and aided the Sensex to touch the day’s high of 17356 before shutting at 17330, 561 points higher. The Nifty also regained its 5100 levels and closed at 5194, up by 176 points.

Market sentiment

The market breadth was extremely positive as advancing stocks outdid trailing stocks over three times. Of the 2,966 stocks traded on the BSE, 2,266 stocks advanced, whereas only 615 stocks declined. Eighty five stocks remained unchanged.

Sectoral & stock screening

All the 13 sector indices closed higher, except BSE HC that fell marginally. BSE Realty led the gainers chart, spurted 6.17% and BSE Metal that surged 6.06%.

In ‘A’ group list: gainers were - Reliance Infrastructure topped the chart, surged by 8.49%, followed by JSW Steel up by 8.36% and IVRCL Infrastructure gained by 8.28%. Losers’ were - Cipla led the losers’ list with losses of 6.42%, followed by Reliance Natural Resources (RNRL) that fell by 4.93% and Bank of India that shed 3.74%.

Viewing volumes

Anil Dhirubhai Ambani group company and day’s biggest loser, Reliance Natural Resources saw highest trading on second straight session with over 3.35 crore shares changing hands on the BSE, followed by wind turbine major Suzlon Energy (0.59 crore shares), India’s second largest developer Unitech (0.55 crore shares), Jaiprakash Associates (0.54 crore shares) and IFCI (0.52 crore shares).