Markets End on a Strong Note Led by FMCG and Banking Indices

Renewed buying interest on the back of strong set of Q2 numbers and overwhelming response to the Caol India IPO saw the markets surge in trade today. The losses of the last two trading days were more than recovered as FMCG, metal and energy shares flared up. The main gainers are the FMCG, Banking and Oil & Gas indices. The Sensex closed the day in green gaining 388.43 points or 1.95 percentage points to close at 20,260.58. Nifty ends the day at 6101.50 gaining 119.40 points or 2 percentage points. Market breadth was positive with 1,869 advances against 1,071 declines on BSE. On the global front, Europe’s services and manufacturing industries expanded at the weakest pace in a year in October, suggesting a global slowdown and the rising euro are starting to undermine the region’s recovery. A composite index based on a survey of euro-area purchasing managers in both industries fell to 53.4 from 54.1 in September, London-based Markit Economics said today. Economists forecast a drop to 53.7, the median of 12 estimates in a Bloomberg survey shows. A reading above 50 indicates expansion.