Markets Bounces in the Later Hours to Close Firm in Green

Markets rebounded from six sessions of decline and are expected to end higher bolstered by firm global cues and rally in metal and realty stocks, shrugging off weak industrial output data. S&P CNX Nifty opened in the green and dipped to 5,711 on reports of industrial output data for the month of November at 2.7 per cent compared to 11.3 per cent in October. The Nifty bounced back from the day's low and touched an high of 5,858, snapping six day's of decline which dragged the index down more than 6 per cent. Nifty ended the day at 5855, up by 109 points, and Sensex was at 19,534, up 337. Investors continued to remain wary for the near-term ahead of Infosys results on Thursday and Inflation data for December on Friday. The IIP for the month of November at 2.7 per cent was below the estimates of 6 per cent. Other markets in Asia ended on a firm note supported by higher crude-oil prices. Hang Seng was up 1.5 per cent at 24,126 backed by gains in energy producers. The Shanghai Composite closed up 0.6 per cent at 2,821 led by rally in property shares. The Straits Times closed flat at 3,247, while the Seoul Composite at 2,095 and Taiwan Weighted at 8,965 both closed up marginally at 0.3 per cent and 0.4 per cent.