Markets End in Green

Markets surged for the third consecutive session tracking gains in global markets and after TCS (Tata Consultancy Services) reported fourth quarter earnings in line with expectations. The Nifty opened on a firm note and moved between 5,913 and 5,866 as investors awaited TCS and Reliance Industries results. The S&P CNX Nifty held on to the gains after TCS consolidated net profit for FY11 surged 30% y-o-y. The Nifty closed up 33 points, at 5,885 and the benchmark Sensex ended higher by 131 points, at 19,602. Markets ended the week on a positive note, both the indices were up 1%. BSE Metal and Oil & Gas shares were leading sectoral following spike in international commodity prices. From the metal pack, Sesa Goa was up 4.4%, Hindustan Zinc gained 3.2% and Jindal Steel was up 2.4%. Among the oil & gas shares, Petronet LNG climbed 4.4%, ONGC gained 3% and Oil India surged 1.5%. Top gainers on the Sensex were Maruti Suzuki, up 3.2%, ONGC advanced 3% and Hindalco Industries surged 2.9%. Only 9 components on the Sensex were trading in the red, BHEL fell 4.4%, Bharti Airtel was off 1.4% and Bajaj Auto declined 0.7%. Broader markets ended flat, market breadth was positive 1421 stocks advanced for 1487 stocks that declined.