Markets rally for 2nd day

The Indian markets rose for the second straight day led by rally in European stocks and gains in technology, realty, banking, auto stocks. The Sensex surged 167 points and the Nifty rose 63 points

Major headlines

Food inflation at 9.47% versus 9.55%

Marico dips as PAT in coming quarters may fall short of estimates

Kingfisher Airlines slips as auditor raises doubts over survival

Pipavav Shipyard falls on rivals’ allegations over Mazagon JV



Indian indices

After trading lacklustre for most part of the session, the Indian markets made a smart recovery in late trade supported by strong European cues and gains in technology, realty, banking, auto shares. Heavyweights like RIL, SBI, Infosys, Tata Motors, TCS, ICICI Bank, DLF and HDFC were leading the markets higher. Global sentiment was buoyed by assurances from France and Germany that Europe will stand behind Greece as the nation struggles to cut its debt pile.

Sensex movements: The Sensex opened 128 points higher at 16838 and slipped in the red, hitting the day’s low of 16545 in mid-morning session. Further, the index bounced back on positive European cues and support from technology, realty, banking, auto stocks, hitting the day’s high of 16922 in last trade. The Sensex ended at 16877, up by 167 points and the Nifty rose by 63 points to close at 5076.

Market sentiment

The market breadth was positive, with 1545 (53.53%) shares advancing, 1235 (42.79%) falling and 106 (3.67%) traded unchanged.

Viewing volumes

Indian shipbuilder Pipavav Shipyard witnessed highest trading, with over 0.63 crore shares changing hands on the BSE. India's second largest developer - Unitech (0.42 crore shares), industrial finance company - IFCI (0.29 crore shares), a Jaypee Group firm - Jaiprakash Associates (0.26 crore shares) and the dynamic vertical of JSW Group - JSW Energy (0.24 crore shares).

Sectoral & stock screening

Out of the 13 sectors, 11 closed the session in green zone. BSE Realty was the outperformer rising by 3.25%, followed by BSE IT up by 2.10% and BSE TECk gained by 1.89%. The only two losers - BSE CG fell by 0.67% and BSE FMCG declined by 0.32%.

In 'A' group stocks, top performers - BGR Energy Systems up by 14.19%, Power Finance Corporation surged by 8.11% and Sterling International Enterprises rose by 6.74%. Major losers - Marico down by 10.12%, Pipavav Shipyard fell by 4.01% and Sun TV Network declined by 3.13%.

Global indices

The European stocks surged on Thursday as investors reacted positively to signs that the European leaders may finally be getting to grips with the severity of the situation surrounding the peripheral euro-zone countries, and Greece in particular.

The Asian stocks closed higher on Thursday as investors bought back shares after France and Germany said Greece's place remains in the euro zone. However, Shanghai Composite and Jakarta Composite closed lower.

The US stock index futures pointed to a higher open for equities on the Wall Street on Thursday.

Market Outlook: Data releases in the US include Consumer Price Index, Empire State Manufacturing Survey, Jobless Claims, Current Account, Industrial Production and Philadelphia Fed Survey.