Bulls continued its strong run for the third straight day as the Indian markets witnessed a stellar rally in today’s trade led by upbeat economic data across the globe. World markets rose after China posted better-than-expected factory production data in November - rising to a seven-month high at 55.2, factory production in India also expanded in November at its fastest pace in six months, while euro zone manufacturing grew at its quickest rate in four months. Strong auto sales numbers by top Indian auto firms also supported the rally. The broad markets outperformed the key benchmark indices in today’s trade. The Nifty regained its psychological levels of 5900. The buying was seen in all sectors.
The BSE Midcap rose by 2.5% and BSE Smallcap surged by 3%. Among frontliners, Suzlon Energy, Reliance Capital, Cipla, Tata Steel, Bharat Petroleum Corporation, Hindalco Industries, Reliance Communications and State Bank of India were the major gainers.
The Sensex started the day mere nine points higher at 19530 tracking unsupportive Asian markets. The index hit the day’s low of 19525 in its initial trade. The Sensex gathered momentum and traded in the positive zone all through the morning session. The Sensex extended gains in the afternoon trade taking lead from the positive European markets. The Sensex hit the day’s high of 19887 in the late trade as strong buying was witnessed in metal, realty stocks and also in index heavyweights.
At the finishing line, the Sensex closed at 19850, higher by 329 points. The Nifty shut at 5961, up by 98 points.
The Sensex started the day mere nine points higher at 19530 tracking unsupportive Asian markets. The index hit the day’s low of 19525 in its initial trade. The Sensex gathered momentum and traded in the positive zone all through the morning session. The Sensex extended gains in the afternoon trade taking lead from the positive European markets. The Sensex hit the day’s high of 19887 in the late trade as strong buying was witnessed in metal, realty stocks and also in index heavyweights.
At the finishing line, the Sensex closed at 19850, higher by 329 points. The Nifty shut at 5961, up by 98 points.
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