Heavyweights push Sensex 337 points higher

All-round buying helped the markets to bounce back after two-day fall, with heavyweights providing major support The Sensex rose 337 points and the Nifty surged 102 points

Major headlines

FM says growth will be slower than expected

HDFC Bank Q2 net profit jumps by 31%

Hindustan Zinc Q2 net profit rises by 42%

Bajaj Finance Q2 net profit soars by 66%

Hero Motocorp soars on strong Q2 results



Indian indices

The Indian markets kept its head northwards whole day on strong buying across the board and good global cues. Major support came in from heavyweights, with all the 30 Sensex stocks closing the trade on a positive note. The markets closed the trade on a healthy note, with the Sensex above the 17000 mark and the Nifty crossing 5100 level.

Sensex movements: Tracking positive global cues, the Sensex started the session 137 higher at 16883. Later the index extended gains and maintained its uptrend to hit the day’s high of 17107 in late trade. The Sensex shut shop at 17085, up by 337 points and the Nifty closed 102 points at 5139.

Market sentiment:

The market breadth stood strong. Of the 2925 stocks traded on the BSE, 1670 (57.09%) rose, 1136 (38.84%) fell and 119 (4.07%) remained unchanged.

Sectoral & stock screening:

All the 13 sectoral indices closed higher. BSE Realty was the top gainer surging by 3%, followed by BSE Bankex up by 2.69% and BSE Oil & Gas up by 2.27%. Rest ten gained in the range of 0.84-2.02%.

In 'A' group stocks, top winners — ABB rose by 7.44%, Coromandel International advanced by 6.13% and Neyveli Lignite Corporation surged by 4.64%. Major laggards — Crompton Greaves fell by 12.23%, Exide Industries declined by 2.01% and Sesa Goa down by 1.78%.

Viewing volumes:

A pioneering leader in the management and application of electrical energy — Crompton Greaves was traded the most with over 0.30 crore shares changing hands on the BSE. Following that, one of the largest private sector fertiliser producers in India — Chambal Fertilisers & Chemicals (0.26 crore shares), wind turbine major – Suzlon Energy (0.20 crore shares), India's largest automobile company – Tata Motors (0.19 crore shares) and a DTH satellite television provider in India – Dish TV India (0.16 crore shares).

Global indices

The European stock markets surged on Wednesday (October 19, 2011), after reports that France and Germany had agreed a plan to boost the euro zone rescue fund to 2 trillion euros, which helped to fuel a late rally on the Wall Street.

The Asian stock markets advanced on Wednesday after a media report raised expectations that Europe will act to strengthen the euro zone's rescue fund, though scepticism about whether it can put bold steps into practice curbed gains.

The US Stock index futures pointed to a weaker open for equities on the Wall Street on Wednesday.

Market Outlook: Consumer Price Index and Housing Starts data will be released in the US on Wednesday.