Heavyweights lift Sensex 205 points higher post yesterday's mayhem

Indian markets showed strength in today's trading session after a drastic fall yesterday, with the Sensex closing 205 points higher and the nifty rising by 59 points. Major Headlines TRAI says no refund for cancelled licences Nalco rises on stake sale Satyam Australian unit plans buyout Indian Indices Indian markets remained volatile for most part of the day but shot up in second half to close the session on a strong note. Good gains in heavyweights like HDFC, Infy, ITC, HUL, HDFC Bank, L&T and Bharti Airtel supported the indices to rise after a drastic fall in yesterday’s trade. Majority of the sectors were on the buyers’ radar, which kept the markets strong. Positive European cues also added to the gains. Sensex closed above the 17250 mark and nifty closed above 5200. Indian rupee too gained, rising by 49 paise to 50.78 a dollar. Major news today came from the finance ministry which said that the ministry will not be chasing the Participatory Notes (P-notes), or derivative products that allow foreign investors to invest anonymously into Indian equities, as part of its recently proposed General Anti-Avoidance Rule (GAAR). Only P-notes which fail certain regulatory tests may be subject to taxation, the reports said. Sensex closed at 17257, up by 205 points and the nifty settled at 5243, up by 59 points. Market sentiment The market breadth stood in favour of declines. Of the 3017 stocks traded on the BSE, 1189 (39.41%) rose, 1707 (56.58%) fell and 121 (4.01%) remained unchanged. Viewing volumes A real estate development company - HDIL was traded the most, with over 0.68 crore shares changing hands on the BSE. Following that an integrated infrastructure development company - Lanco Infratech (0.56 crore shares), a non-banking financial company - Manappuram Finance (0.52 crore shares), Wind turbine major - Suzlon Energy (0.43 crore shares) and Industrial Finance Company - IFCI (0.36 crore shares). Sectoral & stock screening All the 13 sectoral indices closed in positive, barring BSE Power marginally down by 0.07%. The topmost gainers were - BSE CD which gained 2.07%, BSE FMCG advanced 1.69% and BSE Realty up 1.56%. Among 'A' group stocks, top three gainers were - Shree Cement which gained 4.88%, GMR Infrastructure advanced 4.75% and Sintex Industries surged 4.56%. Top three losers were - Muthoot Finance which dropped 8.05%, Manappuram Finance fell 7.42% and Wockhardt declined 6.54%. Global Signals European stock markets are trading higher on Tuesday (March 27, 2012), after Wall Street and Asian markets rose in the wake of signals by US Federal Reserve Chairman Ben Bernanke that the central bank will keep its ultra-easy monetary policy. Asian stock markets ended higher Tuesday, with Japanese shares climbing to their highest level in more than a year after Federal Reserve Chairman Ben Bernanke signaled US interest rates may remain at the current ultra-low levels. The Stock index futures pointed to a pointed to a higher opening on Wall Street on Tuesday. Market Outlook: Data to be released in the US on Tuesday is:- S&P Case-Shiller HPI and Consumer Confidence