India Strategy Report - Cs
Monday, December 26, 2011
The Indian markets stayed higher all throughout the day, with the Sensex closing 232 points higher and the Nifty up by 65 points.
Headlines for the day
Telecom stocks up after TDSAT stayed DoT 3G roaming ban order
Tea stocks surge on higher tea prices
Cairn India jumps on rise in crude oil
Tata Motors to replace starter motor in Nano
Nifty January 2012 futures were at 4802, at a premium of 23 points compared to spot closing of 4779. Nifty December 2011 futures were at 4783, near spot closing of 4779. Turnover on NSE's futures & options (F&O) segment declined to Rs 115801.15 crore from Rs 130308.16 crore on Friday, 23 December 2011.
State Bank of India (SBI) December 2011 futures were at 1669.90, at a premium over spot closing of 1664.50.
Key benchmark indices reached their highest closing level in nearly two weeks as strong economic data in the US boosted sentiment. US is the world's biggest economy. The barometer index, BSE Sensex, came within striking distance of the psychological 16,000 level in late trade. The Sensex provisionally jumped 232.05 points or 1.47%, up about 210 points from the day's low and off close to 30 points from the day's high. Volumes were thin as major Asian markets viz. Hong Kong and Singapore, and European markets were closed for holidays. Except BSE Healthcare index, all the other 12 sectoral indices on BSE were in the green. The market breadth was strong.