Markets Close in Green; Reversed Six Days of Loosing Streak

Positive cues from the global markets helped the Sensex opened with a positive gap of nearly 400 points at 17,245. The Sensex moved a bit higher to 17,256, thereafter the index pared some gains on account of profit taking in select stocks. The Sensex touched a low of 17,022, but soon bounced back to higher levels.  Although the US markets ended with gains of around 5-6 per cent each, our markets did not see all-out buying, but on the positive side, did neither see fresh weakness. The Sensex finally settled with a gain of 273 points at 17,130. The NSE Nifty added 88 points to 5,161. In the process, the markets reversed its six-day losing streak, wherein the BSE benchmark index had shed around 1,450-odd points. In Europe, CAC slipped into the red after a positive opening. DAX and FTSE were also off their morning highs. Riots in London, which is now in its fourth day, dampened sentiments in European markets. However, the indices recovered to morning levels. CAC was up 1%, DAX gained 2%. BSE auto index was the biggest sectoral gainer and added 4% at 8,636.  IT heavyweights staged a smart comeback today after the recent slide following S&P's US downgrade. The index ended up 2.4% at 5,163. BSE oil & gas sector was in the red - down 0.2%. FMCG stocks declined in trades with ITC and Hindustan Unilever down 1% each. BSE market breadth was fairly positive with 2,202 stocks on the advancing side and 701 on the declining side. 2,985 stocks were traded on the BSE today.