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| | December 22, 2011 | 5:30 PM | Firm Europe pushes Sensex 128 points higher
Gains in the European equities lifted sentiments, with the Indian markets reversing early losses and closing higher for the second straight day | | | | | | | Major headlines | | | Indian indices
The Indian markets reversed direction and traded in the green in the last hour of trade tracking positive European cues. Major upmove in realty, banking, power, consumer durables, auto and FMCG stocks pushed the markets higher. Recovery was also led by gains in RIL, ICICI Bank, HDFC Bank, DLF, Tata Motors, SBI, ITC and HUL.
Also, food inflation fell sharply to a near four-year low of 1.81%. This is the lowest rate of food inflation since the week ended February 9, 2008, when it stood at 2.26%.
The Nifty reclaimed above the 4700-mark for the first time in the last five sessions on closing basis. The markets closed higher for the second straight day.
Sensex movements: Mirroring weak global cues, the Sensex opened the trade 139 points lower at 15547. Further, the index extended losses on selling pressure and touched the day's low of 15473 in the afternoon session. Later after the opening of the European markets, the index showed smooth recovery and hit the day's high of 15835 in the late trade. The Sensex rose 128 points to shut shop at 15813 and the Nifty settled 41 points higher at 4734.
| | | INDEX PERFORMANCE |  | | | | | | | | MARKET INDICATORS | | | | | | | | | | | Hindustan Copper | 172.20 | 15.69 | | | Jaypee Infratech | 38.00 | 11.44 | | | Ashok Leyland | 23.35 | 11.19 | | | | | | | | | Aditya Birla Nuvo | 745.55 | -3.69 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Market Outlook: Data released in the US on Thursday - GDP, Jobless Claims and Consumer Sentiment. | Market sentiment
The market breadth stood strong. Of the 2841 stocks traded on the BSE, 1572 (55.33%) gained, 1150 (40.48%) fell and 119 (4.19%) were unchanged.
Viewing volumes
Wind turbine major - Suzlon Energy was traded the most, with over 0.50 crore shares changing hands on the BSE. Following that, India's second largest developer - Unitech (0.39 crore shares), a Jaypee Group firm - Jaiprakash Associates (0.27 crore shares), a sugar making company - Shree Renuka Sugars (0.23 crore shares) and India's largest automobile company - Tata Motors (0.22 crore shares). | Sectoral & stock screening
Among the 13 Sectoral indices, only two were in red. Losers - BSE IT down by 1.20% and BSE TECk down by 1.10%. Top Gainers - BSE Realty up by 2.91%, BSE Bankex up by 2.27% and BSE Power up by 1.97%.
Among 'A' group stocks, top three gainers - Hindustan Copper gained by 16%, Jaypee Infratech up by 11% and Ashok Leyland jumped by 11%. Top three losers - Mphasis dipped by 5%, Rural Electrification Corporation slipped by 4% and Aditya Birla Nuvo fell by 4%. |  | | | | 
| Global signals
The European stocks rose on Thursday (December 22, 2011), reversing all of the previous session's losses, but nagging worries over the euro zone debt crisis after the European Central Bank's 3-year tender were seen capping the rebound ahead of the holiday break.
The Asian stock markets ended mostly lower on Thursday, as doubts emerged on whether banks would use cheap emergency ECB loans to buy Italian and Spanish debt to solve the continent's spiraling debt crisis. The only gainer was Jakarta Composite.
The US Stock index futures pointed to a higher open on the Wall Street on Thursday. | | | | Visit www.sharekhan.com to manage your newsletter subscriptions | | |     | | |  | | |  | | | To know more about our products and services, click here. | | | | | |  | Sharekhan Ltd. Regd Add: 10th Floor, Beta Building, Lodha iThink Techno Campus, Off. JVLR, Opp. Kanjurmarg Railway Station, Kanjurmarg (East), Mumbai - 400 042, Maharashtra. Tel: 022 - 61150000. BSE Cash-INB011073351; F&O-INF011073351; NSE - INB/INF231073330; CD - INE231073330; MCX Stock Exchange : CD - INE261073330 DP: NSDL-IN-DP-NSDL-233-2003; CDSL-IN-DP-CDSL-271-2004; PMS INP000000662; Mutual Fund: ARN 20669. | | | | | | | "This document has been prepared by Sharekhan Ltd. This Document is subject to changes without prior notice and is intended only for the person or entity to which it is addressed to and may contain confidential and/or privileged material and is not for any type of circulation. Any review, retransmission, or any other use is prohibited. Kindly note that this document does not constitute an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction.
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