Global cues lift Sensex 192 points higher

The Indian markets closed the trade on a strong note led by positive global cues. The Sensex rose 192 points and the Nifty surged by 63 points

Headlines for the day

Food inflation at -0.42% vs -2.9%

Reliance Capital spurts on plans of stake sale in arm

HDFC Bank Q3 net profit up 31%

Bajaj Auto Q3 net profit up by 19%

Dish TV Q3 net loss at Rs42.96 crore



Indian indices

The Indian markets maintained its uptrend all throughout the day supported by positive global cues. Consistent buying in realty, metal, power, banking, PSU, pharma and auto stocks was pushing the markets higher. Major heavyweights lifting the markets today were ICICI Bank, L&T, RIL, HDFC, NTPC, Sterlite Industries and Tata Power. The Nifty closed above the 5000 mark for the first time since December 7, 2011. The markets ended at 6-week closing highs today.

Sensex movements: Tracking good global cues, the Sensex opened the session up by 122 points at 16574 as compared to its previous close of 16451. The index remained in the green zone whole day amid rangebound trade. Positive European cues and buying in majority of the sectors led the Sensex to close higher. The Sensex rose 192 points to settle at 16644 and the Nifty stood at 5018, up by 63 points.

Market sentiment

The market breadth stood in favour of advances. Of the 2924 stocks traded on the BSE, 1809 (61.87%) rose, 982 (33.58%) fell and 133 (4.55%) remained unchanged.

Viewing volumes

The world’s largest producer of plastic water tank- Sintex Industries was traded the most, with over 0.84 crore shares changing hands on the BSE. ). Following that, a real estate development company - HDIL (0.51 crore shares), an integrated infrastructure development company - Lanco Infratech (0.47 crore shares), wind turbine major - Suzlon Energy (0.34 crore shares) and India's second largest developer - Unitech (0.31 crore shares).

Sectoral & stock screening

Among the 13 sectoral indices, ten closed higher. Top Gainers: BSE Realty rose by 3.54%, BSE Metal up by 2.81% and BSE Power advanced by 2.43%. Three Losers: BSE IT down by 0.32%, BSE TECk fell by 0.29% and BSE FMCG declined by 0.02%.

Among 'A' group stocks, top three gainers were- Adani Enterprises surged by 10.43%, HDIL rose by 10.40% and Reliance Infrastructure up by 9.63%. Top three losers were- LIC Housing Finance fell by 3.32%, Apollo Hospitals Enterprise down by 2.95%, and BHEL declined by 2.71%.

Global Indices:

The European shares surged on Thursday on hopes Greece would reach an agreement with its private creditors on a crucial bond swap deal and that more US banks could post forecast-beating results.

The Asian stock markets closed positive on Thursday, on news that the International Monetary Fund is seeking to bolster its funds to stem the euro zone sovereign debt crisis.

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

Market Outlook: Data releases in the US on Thursday - Jobless Claims, Housing Starts, Consumer Price Index, Philadelphia Fed Survey and EIA Petroleum Status Report.