Markets Bounced Back to Close in Green

Markets ended on a positive note but volatility ruled the roost on expectations of a rate hike from credit policy next week. Sensex flip flopped in a 300 points range during day’s trade to close in green. The main gainers for today’s trade are the Banking and FMCG indices that closed the day in green gaining more than one percentage points. The main draggers for the day are the Metal and Realty indices which closed the day declining more than one percentage points. The Sensex closed the day in green gaining 91.30 points or 0.46 percentage points to close at 20,032.34. Nifty ends the day at 6017.70 gaining 30 points or 0.50 percentage points. Market breadth was negative with 865 advances against 2,137 declines on BSE. On the global front, European stocks fell, trimming the Stoxx Europe 600 Index’s first October rally in three years, as concern mounted that further stimulus will fail to sustain the pace of the economic recovery. Sandvik AB retreated 4.7 percent as the world’s biggest maker of metal-cutting tools posted profit that missed analysts’ predictions. Piraeus Bank SA sank 5.4 percent after the Greek bank announced plans to raise 800 million euros ($1.11 billion) in a sale of new shares to boost its capital.