Market close on a strong note, fresh buying across sectors
Chandrakant / 03 Jan 2012
After opening on a strong note, the Indian markets remained firm throughout the day, and finally ended with strong gains. The Sensex and Nifty were up by 350 and 113 points respectively. The positivity was on the back of global news inflows, especially that coming from the European and Asian regions, both of which opened positively today. Also, fresh buying at the lower levels across sectors helped the markets to maintain their momentum throughout the day.
In other Asian markets, the Hang Seng closed on a strong note and gained 2.35% in today’s trade. Investors flocked back to the equity markets after the pick up in China's manufacturing activity, which boosted investor sentiment across the region.
After a positive close in yesterday’s trade, the European markets continue to trade in the green, with gains between 1%-1.25%. Improved Chinese output data boosted the investor sentiment across the globe.
| Benchmark Indices | ||
| Index | Closing | % Change |
| Sensex | 1582.69 | 2.35 |
| Nifty | 4750.65 | 2.46 |
| Hang Seng | 18877.41 | 2.35 |
| Nikkei | 8455.35 | 0.00 |
| Shanghai | 2199.42 | 0.00 |
| Live | ||
| FTSE | 5637.73 | 1.16 |
| DAX | 6161.15 | 1.39 |
| CAC | 3209.03 | -0.41 |
Back home, the Metals index continue to lead the sectoral indices with gains of 4.84%. This was on the back of fresh buying after continuous selloff in the past week. A rally was seen in major sectors like Realty, Capital Goods and Banks, which were up by 4% each. All other indices were also up by with gains between 1%-3% each.
Among the Sensex shares, the Metals stocks shone today. Stocks like TATA Steel, BHEL, Jindal Steel, and Sterlite continue to lead the 30-share Sensex, with gains of more than 5% each. Coal India, DLF, ICICI Bank, L&T, SBI, Tata Motors and Tata Power were among the other major gainers, ending with gains between 3%-6%. Among the losers, M&M closed down with losses of 1.16%.
| Sectoral Indices | |||
| Category/Index | Close | Change(Pts) | Change (%) |
| Broad | |||
| MIDCAP | 5,255.79 | 124.19 | 2.42 |
| SMLCAP | 5,683.19 | 126.71 | 2.28 |
| BSE-100 | 8,156.71 | 213.94 | 2.69 |
| BSE-200 | 1,903.45 | 49.99 | 2.70 |
| BSE-500 | 5,938.04 | 152.21 | 2.63 |
| Sectors | |||
| METAL | 9,805.10 | 452.73 | 4.84 |
| CG | 8,469.11 | 366.65 | 4.53 |
| REALTY | 1,429.36 | 59.13 | 4.32 |
| BANKEX | 9,569.50 | 391.45 | 4.27 |
| PSU | 6,615.21 | 239.44 | 3.76 |
| POWER | 1,844.55 | 56.54 | 3.16 |
| TECk | 3,498.03 | 81.43 | 2.38 |
| IT | 5,949.48 | 126.99 | 2.18 |
| AUTO | 8,201.53 | 155.63 | 1.93 |
| OIL&GAS | 7,763.67 | 136.03 | 1.78 |
| HC | 5,945.80 | 84.66 | 1.44 |
| CD | 5,427.67 | 72.14 | 1.35 |
| FMCG | 4,013.36 | 30.72 | 0.77 |
The market breadth, which indicates the overall health of the market, was positive. Out of the 3197 stocks traded on the BSE, 1528 advanced, 710 declined and 129 remained unchanged.
| Advance-Decline Table | |||
| Index | Advances | Declines | Unchanged |
| BSE 30 | 15 | 14 | 1 |
| BSE 200 | 129 | 67 | 4 |
| BSE 100 | 61 | 36 | 3 |
| BSE 500 | 335 | 150 | 15 |
| Others | 1528 | 710 | 129 |
In conclusion, we expect the markets to remain positive, as investors will flock to equity markets that are available at lower levels. However, any bad news from the European market can hurt investors' sentiments across the globe. Therefore, we advise our readers to stay cautious.
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