Markets Witness Steady Closing

The markets sprung to life in this session after being in comatose state since the beginning of the Christmas season, thanks to a resurgence across Asia. Rollovers of existing positions on the penultimate day of the December derivatives series would have also played a part in the rally. The Sensex consolidated its hold above the psychological 20k mark and hit a 1-1/2-month high to end the session at 20,256, stronger by 230 points and the Nifty reclaimed the 6k mark to end at 6060, up 64 points. Not to be outdone, the mid cap index ended at 7658, higher by 39 points and the small cap index ended at 9511, up 106 points. All the sectoral indices ended in the green, with FMCG, metal and banking leading from the front. Asian stocks rose, sending the MSCI Asia Pacific Index to a 2 1/2-year high for a second day, as increased oil and gold prices boosted commodities companies. Hang Seng ended at 22,969, higher by 347 points or 1.5 per cent and Nikkei ended at 10,344, up 51 points or 0.5 per cent. And on the European front, the FTSE, CAC and DAX have also edged higher in mid-day trades. Wall Street had erased earlier losses and ended little changed overnight as investors shrugged off a surprise weekend interest rate hike from China's central bank. The Dow settled down 20 points at 11,552, while the Nasdaq was up four points at 2,669.