Markets Close on a Positive Note

Markets surged higher on bargain hunting and strong IIP data. Rally in banking and capital goods sectors has pulled the Sensex to 19,508.89 up by 266 points. The S&P CNX Nifty has gained 90.85 points to close at 5857.Industrial output rose to 10.8 per cent for the month of October on back of healthy performance in sectors such as automobile, electronic goods and power. The IIP data gave fillip to capital goods shares. On the global front European stocks fluctuated, with the benchmark gauge heading for a second weekly rally, as investors speculated that profits will overcome the sovereign-debt crisis. U.S.-index futures rose and Asian shares were little changed.