Markets End on a High Note

The markets have soared in noon trades, building on their strength on the global front. The markets witnessed good buying interest across the board. The main gainers which helped the market to close on a high note are the Banking, Consumer Durables and IT indices which closed the day gaining more than two percentage points. . The Sensex closed the day in green gaining 372.15 points or 1.90 percentage points to close at 19,957.59. Nifty ends the day at 6010 gaining 119.70 points or 2.03 percentage points. Market breadth was positive with 1,908 advances against 1,067 declines on BSE. On the global front, European stocks rallied, rebounding from a two-week drop, after Ireland agreed to an international bailout to save its banks and prevent contagion across the region’s debt markets. U.S. futures and Asian equities rose. Renault SA and Volkswagen AG led carmakers higher after BofA-Merrill Lynch Global Research recommended the industry. Taylor Wimpey Plc advanced 4 percent as the homebuilder agreed to a new debt facility. Draka Holding NV jumped 9.2 percent after Prysmian SpA announced plans to buy the Dutch cable maker, topping a bid by larger rival Nexans SA.