Sensex Closes Up By 300 Points

After opening on a positive note, the Indian markets extended their early gains in the afternoon session and closed on a strong positive note. Value buying at lower levels across the sectors and the Finance Minister's clarification on GAAR   improved the sentiments among the investors. The Sensex and Nifty both closed with gains of 1.83% and 2.25% respectively. The Sensex gained 300 points.

Other Asian markets closed on a mixed note as they received no major cues from the global market. Investors are waiting for more news on the European debt resolution, the US Economic data and Chinese economic figures, which will help the markets to decide their direction.

The European markets too continue to trade on a positive note on the expectation that the Euro zone Finance Ministers' meeting will come with a strong bailout package, which kept the investors' sentiments buoyant.

Dow Jones Futures is currently trading 50 points or 0.38% up at 13128, indicating a positive sentiment in the US markets.

The market breadth, which indicates the overall health of the market, was positive. Out of the 3325 stocks traded on the BSE, 2274 advanced, 938 declined and 113 remained unchanged.