Sensex makes smart gains, closes 232 points higher

The Indian markets stayed higher all throughout the day, with the Sensex closing 232 points higher and the Nifty up by 65 points.

Headlines for the day

Telecom stocks up after TDSAT stayed DoT 3G roaming ban order

Tea stocks surge on higher tea prices

Cairn India jumps on rise in crude oil

Tata Motors to replace starter motor in Nano



Indian indices

The Indian markets closed the first day of last week of the year 2011 on a strong note helped by buying across the board. Upbeat economic data in the US boosted sentiment. Major support came in from technology, realty, metal, capital goods and consumer durables pack. Major heavyweight supporters — Infosys, RIL, Bharti Airtel, TCS, Tata Steel, L&T, HDFC Bank and Hero MotoCorp.

The trading volumes were low as most investors preferred to remain on the sidelines towards the end of the year.

Sensex movements: The Sensex started the trade 43 points higher at 15782 as against the previous close of 15739. Good buying interest across the board kept the index higher whole day. Extending gains, the index hit the day’s high of 15998 in the last half and hour of trade. The Sensex rose 232 points to settle at 15971 and the Nifty stood at 4779, up by 65 points.

Market sentiment:

The market breadth was strong. Of the 2853 stocks traded on the BSE, 1735 (60.81%) rose, 971 (34.03%) fell and 147 (5.15%) remained unchanged.

Viewing volumes:

Industrial finance company – IFCI was traded the most, with over 0.35 crore shares changing hands on the BSE. Following that, wind turbine major - Suzlon Energy (0.28 crore shares), an integrated infrastructure development company — Lanco Infratech (0.23 crore shares), India's second largest developer – Unitech (0.18 crore shares) and a Jaypee Group firm - Jaiprakash Associates (0.17 crore shares).

Sectoral & stock screening:

All the sectoral indices closed higher except BSE HC down by 0.04%. Top gainers — BSE TECk rose by 2.61%, BSE IT surged by 2.39% and BSE Realty advanced by 1.59%.

Among 'A' group stocks, top three gainers - IFCI advanced by 6.80%, Apollo Hospitals Enterprise rose by 5.24% and Hero MotoCorp up by 4.75%. Top three losers - GSPL down by 2.89%, Jaypee Infratech declined by 2.73% and TTK Prestige fell by 1.96%.

Global indices

The Asian stock markets surged on Monday (December 26, 2011) after upbeat US housing data and a two-month extension of the U.S. payroll tax cut gave temporary relief to market participants. Major indices like Hang Seng, Jakarta Composite and Straits Times remained closed for Christmas holidays.

The US and European markets are shut on Monday for Christmas holiday