Noteworthy November series: Sensex, Nifty skyrocket

What a fantastic finish to the November F&O series. It was a day where long rollovers in the high beta sectors like Real Estate, Infra and Auto and the defensive Pharma stocks lifted the markets to hit the highest level in the calendar year 2012. While, some heavy short covering in the Banking sector towards the fag end of the session saw the NSE Nifty close above the 5800 mark for the first time in the year 2012. Even the Sensex breached the 19,000 levels for the first time in nearly two-months on expectations that the government would be able to push through economic reforms. Adding to the bullish flavor, credit rating agency Moody’s on Tuesday said the outlook on India rating was stable. Moody's said the stable outlook on the country's Baa3 rating was based on its structural strengths of a high household savings rate and relatively competitive private sector, which could help raise growth in coming years. Finally, the BSE Sensex closed at 19170, surging 328 points over the previous close. It had earlier touched a day's high of 19205 and a day's low of 18873. It opened at 18873. The NSE Nifty was quoting at 5,825, up 98 points over the previous close. It earlier touched a day’s high of 5,833 and a day’s low of 5736. It opened at 5,736. RIL, TCS, Wipro, ICICI Bank, Bajaj Auto, Tata Motors, ITC, Bharti Airtel, SBI, L&T, Ranbaxy, Tata Power, NTPC, Dr Reddy’s Lab, HDFC, Coal India, L&T, are among gainers in Sensex and Nifty. Infosys, BHEL, NTPC, Maruti Suzuki, Hero MotoCorp, Siemens, Power Grid, HCL Tech, are among losers in Sensex and Nifty. The INDIA VIX on NSE surged 10% to end at 15.37. It hit a day’s high of 15.62 and a day’s low of 13.48. Today’s noteworthy rally was seen on the back of life time high turnover over 3.92 lakh crores turnover was registered on the bourses. For the Series, the NSE Nifty and the BSE Sensex ended higher by 2.1% each.