Sensex spurts on global bounce

This week is again turning out to be a volatile one as bulls continue to dance to the global tune. After yesterday’s slippery trading session, bulls staged a smart come today. Benchmark indices in India enjoyed a bright and beautiful trading session amid one of the biggest global rallies in recent memory. In the US, the Dow ended above the 10,000 mark for the first time since June 28 on optimism ahead of the upcoming earnings season. Asian markets also ended with smart gains even the European markets are trading in the green.



"Sentiments also got a boost after the International Monetary Fund (IMF) raised its outlook for India's GDP growth for the year to 9.4% from 8.8% announced in April," says Amar Ambani Vice President Research IIFL.

Domestically, the benchmark indices saw a gap-up opening, with the NSE Nifty index surging past 5300 levels at open. Nifty did manage to come close to the 5350, however some profit booking at higher levels dragged the index gradually. Selling slightly intensified as the day progressed, index heavyweights like ACC, Sun Pharma, Reliance Infra and NTPC were among the major losers which dragged the NSE Nifty to end below 5300 mark.

Finally, the BSE Sensex advanced 181 points to end at 17,651 while the NSE Nifty rose 56 points to end at 5,297.

Outside the frontline indices, the big gainers in the broader market were GTL, Bharat Forge, Godrej Industries, Titan Ind and Exide Ind. On the other hand, losers included Bajaj Holdings, REI Agro, Tulip Telecom and Jubilant Org.