Tuesday’s magic strikes again; Sensex ends 330 points higher

In the month of January 2012, Tuesdays have given relief in the volatile market with investors earning good returns. The Sensex rose 330 points and the Nifty up 112 points

Headlines for the day

Govt provisionally revises down 2010-11 growth to 8.4%

ICICI Bank shoots up as Q3 results beat estimates

PNB declines after Q3 results

Dabur India Q3 consolidated net profit at Rs173 crore



Indian indices

Tuesdays in the month of January 2012 have been very buoyant for the Indian markets. The upward trend was seen again on the last trading session of the month. Heavy buying interest in the banking shares led the major support today followed by realty, metal, auto, technology and oil & gas shares, which also aided the rally. Continuous gains in index heavyweights like ICICI Bank, RIL, HDFC Bank, SBI, Infosys, Tata Motors and ITC kept the markets higher. Positive global cues also boosted sentiment.

Sensex movement: Mirroring positive Asian cues, the Sensex opened the trade 102 points higher at 16966 and maintained its uptrend for the rest of the day. In the late trade, the index touched an intraday high of 17239 as buying intensified. The Sensex settled 330 points higher at 17194 and the Nifty stood at 5199, up by 112 points.

Market sentiment:

The market breadth was positive. Of the 2946 stocks traded on the BSE, 1804 (61.24%) rose, 1034 (35.10%) fell and 108 (3.67%) remained unchanged.

Sectoral & stock screening:

All the 13 sectoral indices closed higher. Top performers — BSE Bankex up by 3.84%, BSE Realty rose by 3.51% and BSE Auto surged by 2.37%. Remaining ten advanced in the range of 0.82-2.24%.

Among 'A' group stocks, top three gainers were- Tata Global Beverages rose by 10.01%, Havells India up by 8.23% and Bata India up by 7.35%. Top three losers were- Glenmark Pharmaceuticals fell by 5.24%, Coal India down by 2.99% and Essar Oil declines by 1.92%.

Viewing volumes:

Wind turbine major - Suzlon Energy was traded the most, with over 0.64 crore shares changing hands on the BSE. Followed by an integrated infrastructure development company - Lanco Infratech (0.53 crore shares), the international beverage company of the Tata group - Tata Global Beverages (0.34 crore shares), a real estate development company - HDIL (0.34 crore shares) and India's second largest developer - Unitech (0.30 crore shares).

Global Indices:

The European shares surged on Tuesday (January 31, 2012), on hopes Greece was nearing a debt swap deal needed to avoid a messy default, while European leaders agreed on stricter budget discipline measures to help prevent further debt accumulation in the region.

The Asian markets ended in the green on Tuesday after European leaders agreed on a treaty aimed at ending huge deficits, but traders remained cautious as Greece continued talks to slash its debt mountain.

The US stock index futures pointed to a higher open on the Wall Street on Tuesday.

Market Outlook: Data releases in the US on Tuesday — Consumer Confidence, Chicago PMI, S&P Case-Shiller HPI and Employment Cost Index.