Wednesday, September 12, 2012
The Indian stock market indices had a smart session on Tuesday, showing some resilience in the backdrop of weak global equities. Overnight losses in the US and Asian markets dragged the sentiment down at open; however after hitting an intra-day low of 5332, the Nifty index was on a constant uptrend. Market sentiment got a fillip after the Germany's Constitutional Court said that it would not postpone its ruling on the legality of the eurozone's bailout fund, despite a last-minute legal challenge. The smart upswing was led by gains in Realty, IT, Power, Telecom, Banking and Consumer Durables. The Mid-Cap and the Small-Cap indices extended rally, with both gaining 0.3% and 0.6%, respectively.
The Indian equities remained highly volatile throughout the day and closed today's trading session in the green zone despite losses all across the globe. The Sensex closed 86 points higher while the Nifty ended 27 points higher in trade today. Major Headlines of the Day: Oil marketing cos’ up over 2% on fuel price hike hopes Tata Motors hits monthly high on JP Morgan report Panacea Biotech locks upper circuit Hero MotoCorp drops on production cut woes Sesa Goa, Sterlite slips over 5% as Goa govt shuts mining activities
Key benchmark indices gained for the fifth straight trading session as data showing that foreign funds remained net buyers of Indian stocks on Monday, 10 September 2012 boosted sentiment. The Sensex was up 86.17 points or 0.49%, up close to 175 points from the day's low and off about 15 points from the day's high. The barometer index, BSE Sensex scaled its highest closing level in 3 weeks. The 50-unit S&P CNX Nifty hit its highest closing level in nearly 3 weeks. The market breadth was positive. From a recent low of 17,313.34 on 5 September 2012, the Sensex has gained 539.61 points or 3.11% in five trading sessions. The Sensex has gained 423.39 points or 2.42% in this month so far (till 11 September 2012). The Sensex has jumped 2,398.03 points or 15.51% in calendar 2012 so far (till 11 September 2012). From a 52-week low of 15,135.86 on 20 December 2011, the Sensex has risen 2717.09 points or 17.95%. From a 52-week high of 18,523.78 on 22 February 2012, the Sensex has lost 670.83 points or 3.62%.