Volatile trade ends in green

The Indian markets ended higher in a volatile session, with the Sensex rising by 72 points and the Nifty up by 23 points.

Major headlines

Govt suspends foreign supermarket entry on protests

Govt committed to growth of telecoms sector: PM

SKS Microfinance hits 5% upper circuit

Meghmani spurts on setting up JV with Mitsui, Kaneka

Also Read: Numb November; Markets down 9% on global growth woes



Indian Indices

The Indian markets closed a volatile session in the green zone. Strong buying in IT, capital goods, FMCG, realty and auto stocks led the markets higher while selling pressure in pharma, consumer durables and power stocks capped the upside. Positive European cues further helped markets. During the day, the Sensex had touched the 17000 mark.

Sensex movements:

Tracking positive global cues, the Sensex opened the trade higher by 25 points at 16830. Later the index extended gains and maintained its uptrend. However, the index made a stronger move upwards in the afternoon on the back of support from heavyweights and positive European peers to hit the intraday high at 17004. The Sensex closed 72 points higher at 16877 and the Nifty stood at 5063, up by 23 points.

Market sentiment

The market breadth stood in favour of advances. Of the 2926 stocks traded on the BSE, 1451 (49.59%) rose, 1362 (46.55%) fell and 113 (3.86%) stocks remained unchanged.

Viewing volumes

Operates in the crude petroleum and natural gas sector - Cairn India was traded the most, with over 2.91 crore shares changing hands on the BSE. One of the largest listed real estate companies in India - Indiabulls Real Estate (1.02 crore shares), India's leading retailer - Pantaloon Retail (0.48 crore shares), Wind turbine major – Suzlon Energy (0.44 crore shares) and one of India's leading PSUs - Gail India (0.40 crore shares).

Sectoral & stock screening:

Among 13 sectoral indices nine indices closed in positive, while remaining four indices closed in negative. Major Gainers: BSE IT rose by 1.43%, followed by BSE CG, which surged by 0.78%, and BSE Realty advanced by 0.77%. Major Losers: BSE HC declined by 1.53%, followed by BSE CD, which fell by 0.69%, and BSE Power slipped by 0.41%.

Among 'A' group stocks, top three gainers were- Indiabulls Financial Services rose by 12.42%, United Breweries advanced by 7.53% and Pantaloon Retail (India) up by 6.30% higher. Top three losers were- Indiabulls Real Estate down by 10.17%, Idea Cellular declined by 5.86%, and Gujarat Fluorochemicals fell by 4.33%.

Global Signals

The European shares hit a five-week high on Wednesday (December 07, 2011), on growing optimism European Union leaders will agree bold measures to resolve the euro zone debt crisis at a summit this week.

The Asian stock markets rose on Wednesday as investors warmed to the view that European policy-makers will come up with convincing steps this week to help resolve the region's debt crisis.

US Stock index futures pointed to a higher open for equities on Wall Street on Wednesday.

Market Outlook:

US investors will keep an eye on EIA Petroleum Status Report.