Sensex strikes sixer…Nifty ends near 5650

The Indian market continues to be on a roll, with the main stock indices extending their winning streak to a sixth consecutive trading session. The F&O expiry went off smoothly, with the NSE Nifty witnessing a late spurt owing to some short covering. With this, the Nifty has surged by nearly 370 points in the last six trading days.

Today’s upswing was led by positive global cues after the Greek parliament approved new budget cuts needed to secure international aid and avoid a default. Renewed optimism over FII inflows also partly powered the advance. A steep drop in food inflation in the middle of June also boosted the sentiment slightly.



The Asian markets ended with smart gains after the threat of an imminent default in Greece subsided. Gains in Asia followed strong rally in the US and European markets overnight.

BSE Sensex closed at 18,845, up 152 points over the previousclose. It had earlier touched a day’s high of 18,873 and a day’s low of 18,723.It opened at 18,741.

NSE Nifty ended positive at 5,647, up 46 points over theprevious close. It has earlier touched a day’s high of 5,657 and a day’s low of5,606. It opened at 5,614.

J P Associates, Kotak Bank, Jindal Steel, Cairn, HindustanUnilever, Reliance Capital, Tata Power, Reliance Power, L&T, Tata Steel,ITC, Reliance Comm, Ambuja Cement, M&M, HCL Tech and Reliance are among thegainers on the BSE and NSE.

While, Sesa Goa, Bharti Airtel, ONGC, Maruti, ACC, Ranbaxy,Cipla, Hindalco, Grasim, Dr Reddy, Wipro, Axis Bank, STER, Tata Motors and Gailare among the laggards.

Coming back to India, FMCG, Realty, Consumer Durables and IT stocks were the star performers of the day. The BSE Pharma index ended in the red. Mid-Cap and Small-Cap stocks underperformed the Large-Cap indices.

"July is going to be a crucial month as the latest corporate earnings, monsoon cues and RBI's monetary policy meeting late in the month are likely to act as major catalysts. The NSE Nifty is still trading below the 200-day moving average - a crucial technical level.

Ride the current upswing cautiously keeping in mind that most of the headwinds (both domestic and global) are yet to be conquered. The sentiment for the Indian market will hinge largely on two factors - policy action (or lack of it) and FII flows," says Amar Ambani, Head of Research, IIFL - India Private Clients.

The BSE Sensex ended at 18,846 adding 152 points. It had earlier touched a day's high of 18,874 and a day's low of 18,723. It opened at 18,741. The NSE Nifty closed at 5,647 adding 47 points.

Outside the index, the major gainers were JP Infra, Jub Foodworks, RCF, Chambal Fert and JP Power. Among the major losers were LITL, Zee Ent, Jain Irrigation and Oil India.

Circuit Systems, Rane Engine, Mindtree, Deep Industries, Supreme Infra, Zuari Industries, JBF Industries, Castrol India, KRBL and Strides Arcolab saw a steep rise in trading volumes.

Amara Raja Battaries, Bata India, Godfrey Phillips, Pfizer, ITC, 3M India, Marico, Indraprastha Gas, Eclerx and Carborundum Universal have touched new record high today.