Sensex ends near day’s high…Nifty hits 5200

The Indian markets extended winning streak to the fourth straight trading session starting off the week in style. The Nifty has surged over 200 points in last four days hitting the 5200 levels in intra-day today.

"The rally was led by the IT heavyweights like Infosys, Wipro and TCS after Fitch Ratings announced that it had revised the outlook on India's Long-term local currency Issuer Default Rating (IDR) to Stable from Negative", says Amar Ambani Vice President Research IIFL.



In addition, other heavyweights like Reliance Industries, Tata Steel and RCom also participated in the rally, even the Mid-Cap and the Small-Cap attracted buying interest. Finally, the BSE 30-share Sensex gained 273 points to close at 17,338 and NSE Nifty rose 78 points at 5,198.

Markets in Asia ended in the green; the Nikkei in Japan gained by 1.8%, Australia's S&P/ASX ended higher by 1.6% while the Hang Seng index in Hong Kong ended higher by 1% and Shanghai index in China edged higher by 0.3%.

European indices were also trading in the positive terrain, the DAX in Germany was up 1.1%, the CAC 40 index in France was up 1.5% and the FTSE in the UK was up 0.6%.

Among the BSE sectoral indices, BSE IT index was the top gainer, up 3.7% followed by BSE Teck index, it was up 2.8% and BSE Oil & Gas index up 1.8%. Even the BSE Mid-Cap index and the BSE Small-Cap index added 1% and 1.3% respectively.

Outside the frontline indices, the big gainers in the broader market were Jai Corp, RNRL, Sintex and IDBI Bank. On the other hand, losers included Areva T&D, Tulip Tele, REI Agro and OBC.