Markets end with modest gains

The Sensex rose 81 points and the Nifty surged 18 points at the close, erasing most of its early gains on pressure from oil & gas stocks.

Major headlines

Supreme Court grants bail to Satyam founder Raju

Telecom shares gain as TRAI proposes easier merger rules

Bharti Airtel Q2 consolidated net profit drops by 38%

Gujarat Gas Q2 consolidated net profit jumps by 43%

Marico Q2 consolidated net profit up by 9%



Indian indices

The Indian markets continued with its volatile trend and closed the session on a positive note. The European peers were not supportive today. Buying in metal, capital goods, realty and banking stocks led the markets higher, while selling in oil & gas stocks capped the upside.

Markets erased most of its early gains on the back of losses in heavyweights like RIL, HUL, Tata Power, Maruti, TCS, M&M and Tata Motors. Investors remained cautious ahead of conclusive decision from the G-20 meet today

Sensex movements: The Sensex joined the global rally and opened 193 points higher at 17675 and immediately touched the intraday high at 17702. The index traded higher amid volatility in the morning trade. Then the index began to trim gains in the afternoon session on sell-off in oil & gas stocks and unsupportive European cues and touched the intraday low at 17474. The Sensex closed 81 points higher at 17563 and the Nifty rose 18 points to close at 5284.

Market sentiment

The market breadth stood positive, with 1580 shares rising, 1234 declining and 162 traded unchanged.

Viewing volumes

India's largest automobile company – Tata Motors witnessed highest trading, with over 0.36 crore shares changing hands on the BSE. Followed by an integrated infrastructure development company - Lanco Infratech (0.33 crore shares), India's second largest developer – Unitech (0.29 crore shares), a real estate development company — HDIL (0.25 crore shares) and a Jaypee Group firm - Jaiprakash Associates (0.22 crore shares)

Sectoral & stock screening

All sectors closed in the positive terrain except BSE Oil & Gas down by 0.31%. Top gainers — BSE Metal surged by 1.64%. BSE CG advanced by 1.03% and BSE Realty rose by 0.80%. Remaining sectors closed in the range of 0.20% to 0.70%.

In 'A' group stocks, biggest gainers — Havells India rose by 8.41%, JSW Steel up by 6.50% and Voltas advanced by 5.40%. Major losers — Jain Irrigation down by 4.40%, Motherson Sumi Systems fell by 3.06% and CRISIL declined by 2.51%.

Global indices

The European stock markets were mixed on Friday (November 04, 2011) following uncertainties related to the outcome of a confidence vote in the Greek government and ahead of widely-watched US nonfarm payrolls numbers.

The Asian stock markets closed higher on Friday, as Greece appeared ready to abandon a proposed referendum that threatened a plan to contain Europe's debt crisis.

The US stock index futures pointed to a mixed open on the Wall Street on Friday.

Market Outlook: US Employment Situation will be out on Friday.