Markets End on a Strong Note

The Indian markets rallies in the wee hours of trade after witnessing tepid start in the morning on lack of global cues. But a bout of buying activity towards close, with the hitherto active IT space further extending its gains, was enough to bolster the indices. IT index closed the day with a gain of more than three percentage points followed by the Teck and Capital Goods indices. The Sensex closed the day in green gaining 102.61 points or 0.57 percentage points to close at 18,217.44. Nifty ends the day at 5467.85 gaining 28.30 points or 0.52 percentage points. Market breadth was positive with 1,554 advances against 1,370 declines on BSE. On the global front, European and Asian stocks fell and U.S. index futures dropped on speculation reports today will add to indications that the U.S. economic recovery is slowing.