Sensex closes on strong positive note
Chandrakant / 09 Mar 2012
After opening on a positive note, the Indian markets extended their early gains in the afternoon and closed on a strong positive note. The positive Asian markets and the swap deal between European government and Greek creditors will help the European countries in resolving the debt crisis.
After opening on a positive note, the Indian markets extended their early gains in the afternoon and closed on a strong positive note. The positive Asian markets and the swap deal between European government and Greek creditors will help the European countries in resolving the debt crisis. This news lifted investor sentiment, which led the rally today. The Sensex and Nifty closed with gains of 2.09% and 2.17% respectively.
Other Asian markets too closed on a positive note over cues from the European region. The Japanese market, Nikkei, touched the 10000 mark for the first time in 7 months, and ended marginally below the same.
After opening on a mixed today, the European markets are trading with some positive gains. This followed 85.8% of Greek creditors accepting the bond swap offer, helping the country avoiding a default. Investors are also waiting for the US job data, which will provide much needed cues going forward.
Dow Jones Futures is currently trading 1 point or 0.01% down at 12910, indicating a negative sentiment in the US markets.
| Benchmark Indices | ||
|---|---|---|
| Index | Closing | % Change |
| SENSEX | 17503.24 | 2.09 |
| NIFTY | 5333.55 | 2.17 |
| Hang Seng | 21086 | 0.88 |
| Nikkei | 9929.74 | 1.62 |
| Shanghai | 2439.46 | 1.02 |
| Live | ||
| FTSE | 5857.01 | -0.05 |
| DAX | 6850.24 | 0.23 |
| CAC | 3476.13 | 0.06 |
Back home, all the BSE sectoral indices barring FMCG closed up with strong gains between 0.03%-4.69%. Metals, CG and Bankex are leading with gains of 4.69%, 3.75% and 3.66% respectively. CD, Realty, Auto, PSU and the others closed with gains between 2.14%-2.92%. FMCG though, is down by 0.12%.
| Sectoral Indices | |||
|---|---|---|---|
| Category/Index | Close | Change(Pts) | Change (%) |
| Broad | |||
| MIDCAP | 6,330.15 | 133.60 | 2.16 |
| SMLCAP | 6,749.21 | 89.84 | 1.35 |
| BSE-100 | 9,232.49 | 196.57 | 2.18 |
| BSE-200 | 2,170.39 | 46.63 | 2.20 |
| BSE-500 | 6,793.45 | 142.33 | 2.14 |
| Sectors | |||
| METAL | 11,499.68 | 515.02 | 4.69 |
| CG | 10,188.86 | 368.02 | 3.75 |
| BANKEX | 12,086.53 | 426.97 | 3.66 |
| CD | 6,632.69 | 188.22 | 2.92 |
| REALTY | 1,826.15 | 48.46 | 2.73 |
| AUTO | 10,019.28 | 217.35 | 2.22 |
| PSU | 7,589.63 | 158.69 | 2.14 |
| POWER | 2,217.15 | 38.99 | 1.79 |
| OIL&GAS | 8,335.47 | 125.16 | 1.52 |
| HC | 6,444.41 | 88.04 | 1.39 |
| TECk | 3,599.01 | 18.12 | 0.51 |
| IT | 6,132.38 | 1.97 | 0.03 |
| FMCG | 4,164.54 | -4.81 | -0.12 |
Among the Sensex shares, ICICI Bank, Jindal Steel, L&T and Tata Steel have ended with leading gains of 6.22%, 6.83%, 5.27% and 6.74% respectively. Others like Bajaj Auto, Bharti Airtel, BHEL, Coal India, DLF, HDFC, HDFC Bank, NTPC, Sterlite, Hindalco, SBI, Tata Motors, etc. have closed with gains between 1.09%-4.66%. In the losers pack, Cipla, GAIL, HUL, Infosys, ITC, Tata Power and Wipro were all marginally down between 0.06%-1.63%.
The market breadth, which indicates the overall health of the market, was positive. Out of the 3277 stocks traded on the BSE, 2125 advanced, 1039 declined and 113 remained unchanged.
| Advance-Decline Table | |||
|---|---|---|---|
| Index | Advances | Declines | Unchanged |
| BSE 30 | 23 | 7 | 0 |
| BSE 200 | 172 | 28 | 0 |
| BSE 100 | 85 | 15 | 0 |
| BSE 500 | 415 | 81 | 4 |
| Others | 1430 | 908 | 109 |
In conclusion, we expect the markets to remain volatile before the budget. However, a recovery in the domestic economy and some positive news from the US and European markets may provide the required boost to the Indian market.
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