Markets Witness Positive Closing for the Second Consecutive Day

The markets closed higher for the second consecutive day with the Sensex closing with a gain of 111 points at 18,614 and the Nifty added 32 points to end at 5,592. The gain in today’s session was mainly led by the Capital Goods and Teck indices which closed up by more than one percentage points. The others that closed in green are the PSU, Power and IT indices. Market breadth was positive with 1783 advances as against 1011 declines. On the global front, European stocks declined for the second time in three days as China’s manufacturing expanded at the slowest pace in nine months. Asian shares advanced and U.S. index futures fluctuated. Banca Monte dei Paschi SpA sank 5.5 percent as the Italian lender’s controlling shareholder began selling 450 million shares. Nokia Oyj (NOK1V) tumbled for a second day, leading technology shares lower. Axa SA (CS), Europe’s second-biggest insurer, climbed 2.8 percent after agreeing to sell its Canadian business to Intact Financial Corp. for C$2.6 billion ($2.7 billion).