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Sensex up more than 150 pts, set to end on buoyant note

Source : SIFY
Last Updated: Wed, Jan 02, 2013 09:42 hrs
Sensex dives to 6-wk closing low, ends below 16,000

Despite some profit taking in a few front line stocks, the market remains fairly well placed in positive territory and the key indices Sensex and Nifty look well set to end the session on a firm note today.

The mood is quite bullish following the U.S. policymakers agreeing on a deal to avert the fiscal cliff. Asian markets mostly ended on a high note and the mood in European markets too is quite upbeat right now.

Consumer durables, capital goods, oil and bank stocks continue to trade firm, with several blue chips from these sectors holding most of their early gains.

The Sensex is up 155 points or 0.8% at 19,735.81 and the Nifty is up with a gain of 47.30 points or 0.8% at 5998.15.

Automobile, metal and power stocks too are mostly trading higher. Realty stocks are trading off their highs, while healthcare, information technology and FMCG stocks are trading mixed.

This has been a fairly good session for stocks from midcap and smallcap segments as well. The market breadth, despite some selling at some side counters, remains quite strong.

Bajaj Auto, the most prominent gainer in the Sensex today, is up more than 3.5%, driven largely by impressive sales in December. Maruti Suzuki is trading nearly 3% up.

BHEL, GAIL India, HDFC, ONGC, ICICI Bank, Jindal Steel & Power, Hindalco, Larsen & Toubro, NTPC and State Bank of India are also trading notably higher.

Jaiprakash Associates, IDFC, BPCL, Sesa Goa, Punjab National Bank, Axis Bank, Ranbaxy Laboratories, Ambuja Cements, Bank of Baroda and Kotak Bank are among the major gainers in the Nifty index.

Asian Paints, Wipro, ITC, Coal India, Power Grid Corporation, Reliance Infrastructure, Mahindra & Mahindra and Hindustan Unilever are trading weak. Infosys is down marginally amid concerns that the company may lower its earnings forecast.


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