Markets surge, Nifty breaches 5K
Vidrum / 02 Dec 2011
Indian markets moved strongly towards the north after taking cues from the European markets. Both the bourses ended up by more than 2%. All the indices closed in the green zone, with Bankex, Power, Teck and IT showing good strength.
| Benchmark Indices | ||
| Index | Closing | % Change |
| Sensex | 16846.83 | 2.20 |
| Nifty | 5050.15 | 2.29 |
| Hang Seng | 19040.39 | 0.20 |
| Nikkei | 8643.75 | 0.54 |
| Shanghai | 2360.66 | -1.10 |
| Live | ||
| FTSE | 5580.6 | 1.66 |
| DAX | 6121.54 | 1.42 |
| CAC | 3180.46 | 1.61 |
European markets rallied on the back of speculations that the US economy will show faster growth as compared to that in the previous month. The FTSE, CAC and DAX all are trading higher more than 1%.
Asian markets closed in a mixed bag. The Nikkei remained green through the day, while the Hang Seng gave up its initial losses and finally closed the day in the green. On the other hand, the Chinese markets closed in the red, down more than 1% on the back of falling property prices and a slowdown in manufacturing activity. Both these factors together added to concerns of the Chinese economy slowing down.
Dow Jones Futures is currently trading 118 points or 0.98% up at 12121, indicating a positive sentiment in the US markets.
| Sectoral Indices | |||
| Category/Index | Close | Change(Pts) | Change (%) |
| Broad | |||
| MIDCAP | 5,763.40 | 81.29 | 1.43 |
| SMLCAP | 6,190.03 | 66.32 | 1.08 |
| BSE-100 | 8,696.00 | 198.95 | 2.34 |
| BSE-200 | 2,034.30 | 44.75 | 2.25 |
| BSE-500 | 6,357.37 | 132.77 | 2.13 |
| Sectors | |||
| BANKEX | 10,550.45 | 333.25 | 3.26 |
| POWER | 2,011.99 | 59.37 | 3.04 |
| METAL | 10,913.57 | 265.54 | 2.49 |
| TECk | 3,469.61 | 82.64 | 2.44 |
| IT | 5,726.93 | 128.82 | 2.3 |
| AUTO | 8,819.88 | 182.95 | 2.12 |
| PSU | 7,077.47 | 144.41 | 2.08 |
| REALTY | 1,656.91 | 30.17 | 1.85 |
| CG | 9,933.46 | 175.61 | 1.8 |
| CD | 5,883.24 | 93.62 | 1.62 |
| OIL&GAS | 8,410.57 | 128.05 | 1.55 |
| HC | 6,124.78 | 88.46 | 1.47 |
| FMCG | 4,111.20 | 46.46 | 1.14 |
Among the Sensex stocks, the Tata Group companies, Tata Power and Tata Motors, mainly lead the rally and were up 6.30% and 4.76% respectively. Banking stocks like ICICI Bank, HDFC Bank and SBI continued their morning gains. Buying was seen in these stocks after a longish spell of them being beaten down.
The Metals space, which includes Tata Steel, Hindalco, Jindal Steel and Sterlite Industries, had good run up in the range of 2%-4%. Almost all the BSE 30 scrips closed in the green today, except Hero MotoCorp, which ended the day in the red zone, down 0.57% to Rs 2078.
Apollo Hospital surged 8.84% to Rs 660.55 (Its lifetime high), after the company announced that it is planning to invest Rs 30 cr in its sugar clinics.
Power Finance Corporation closed 6.41% higher at Rs 180.20, after the news that the company has raised approximately Rs 4000 cr through a private placement of debt.
Ansal Housing and Construction surged 8.13% to Rs 41.90, after the board approved the buyback of shares. The company will buy back outstanding shares for an aggregate amount of Rs 11.25 cr at a price not exceeding Rs 45 per share through the open markets.
| Advance-Decline Table | |||
| Index | Advances | Declines | Unchanged |
| BSE 30 | 29 | 1 | 0 |
| BSE 100 | 97 | 3 | 0 |
| BSE 200 | 185 | 15 | 0 |
| BSE 500 | 411 | 82 | 7 |
| Others | 1346 | 948 | 116 |
The market breadth, which indicates the overall health of the market, was positive. Out of the 3240 stocks traded on the BSE, 2068 advanced, 1049 declined and 123 remained unchanged.
In conclusion, we expect the markets to remain volatile for the next week, as investors are jittery about investing in markets that fail to provide any concrete direction. Also, the US will release data on its unemployment rate and on non-farm payrolls, factory orders, etc., which are expected to give further cues for the market.
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