Sensex posts healthy recovery, ends 286 points higher

The Indian market staged a smart comeback in the second half of trade and closed higher led by gains in index heavyweights and positive European cues
Major headlines
Mahindra Satyam agree to merge with Tech Mahindra
CCI bags order from Power Grid Corporation
BoB, ING Vysya Bank hikes deposit rate by 25 bps
GVK Power to sell stakes in Australia coal, rail, port project



Indian indices:
The Indian markets swung between gains and losses in the first half of trade due to muted global cues. In the second part of trade, buying was seen in all sectors majorly in realty, capital goods, banking, metal and power which boosted the sentiments. Index heavyweights like ICICI Bank, L&T, HDFC Bank, Infy, TCS, HDFC and SBI led the advances. Sensex hit the 17600 level, while Nifty scaled above the 5350 mark. Positive opening of the European markets also played active role in trade today.
Sensex settled at 17602, rising 286 points and the Nifty stood at 5365, up by 90 points.
Market sentiment:
The market breadth stood in favour of advances. Of the 3024 stocks traded on the BSE, 1758 (58.13%) rose, 1136 (37.57%) fell and 130 (4.30%) remained unchanged.
Viewing volumes:
A leading housing finance company- LIC Housing Finance was traded the most, with 1.68 crore shares changing hands on the BSE. Following that was an integrated infrastructure development company - Lanco Infratech (0.80 crore shares), a real estate development company - HDIL (0.71 crore shares), Wind turbine major - Suzlon Energy (0.65 crore shares) and an ADAG Group firm - Reliance Power (0.39 crore shares).
Sectoral & stock screening:
All the sectors closed in positive zone. The topmost gainers were BSE Capital Goods which jumped 3.59%, BSE Realty advanced 3.54% and BSE Bankex rose 2.44%.

Among 'A' group stocks, top three gainers were - TTK Prestige which advanced 14.65%, HDIL surged 8.57% and Jubilant FoodWorks gained 8.01%. Top three losers were - Engineers India which declined 1.55%, Muthoot Finance fell 1.13% and Hindalco Industries dropped 1.01%.
Global signals:
European shares advanced on Wednesday (March 21, 2012) breaking a two-day downtrend as investors are expecting positive US housing data, which should provide evidence of further economic recovery.
Asian shares slipped on Wednesday as fresh concerns about China's economic slowdown dampened investors' risk appetite, which have been generally rising on a brightening outlook for the US economy.
The Stock index futures pointed to a higher opening on Wall Street on Wednesday.
Market Outlook: Data to be released in the US on Wednesday is :- Existing Home Sales and EIA Petroleum Status Report.