Indian benchmark index the Sensex ended with a 192 points gains after firm global cues created a stocks rally. The IMF announced its plan to help countries that were facing difficulties in the wake of the Eurozone crisis.
The announcement boosted sentiment and sent stocks in the Eurozone soaring. Positive numbers from the banks that declared their last quarter announcement added to the cheer. Todayâ€™s rise took the Sensex to a six week high. It had last seen these figures on December 7, 2011.
The 30-scrip sensitive index (Sensex) of the Bombay Stock Excahange (BSE), which opened at 16,573.87 points, closed at 16,643.74 points, 192.27 points or 1.17 percent up from its previous close at 16,451.47 points.
The 50-scrip S&P CNX Nifty of the National Stock Exchange also closed lower at 5,018.4 points — up 1.26 percent or 62.6 points from its previous close.
On the domestic front, inflation numbers dipped in the last week, with food prices dropping to -0.42% for the week ended January 7 2012, on the back of falling onion and vegetable prices. Inflation for fuel group commodities however was at 14.45%, while primary articles inflation was at 2.47%.
Sectorwise, Realty was the top gainer today with the index rising 3.5%, to reach 2 month high levels. Reports indicate property registration in Mumbai has jumped 45% in December 2011, as compared to November figures. â€œResidential property market in Mumbai will start witnessing a recovery in the second half of 2012 as it looks set to bottom out by the second quarter of the year,â€ Jones Lang LaSalle India said.
Realty major DLF was the top performer in the space with its stocks jumping nearly 5%. According to data available with the Securities and Exchange Board of India (SEBI), foreign institutional investors bought stocks worth $189.74 million. FIIs have pumped in over $1 billion in this month itself.
Broader markets also moved up with the BSE 500 index closing 1.34 percent higher from its previous close. The BSE midcap index ended 1.43 percent up and the BSE smallcap index slipped 1.24 percent.
Prominent gainers on the 30-scrip Sensex included Sterlite Industries, up 6.77 percent at Rs.115.20; Tata Power, up 6.08 percent at Rs.103.75; DLF, up 4.62 percent at Rs.210.45; and NTPC, up 4.19 percent at Rs.171.40.
Among losers were BHEL, down 2.71 percent at Rs.265.50; M&M, down 1.68 percent at Rs.674.40; Bharti Airtel, down 0.83 percent at Rs.342.05; and Infosys, down 0.71 percent at Rs.2,591.90. The market breadth was positive with 1,809 stocks advancing, 982 on the decline and 133 remaining unchanged.
Asian markets were ruling mixed as investors grew cautious after overnight results from some US Banks showed weak quarterly earnings. But there was some good news as well with recent successful bond auctions conducted by Spain and Greece.
The Japanese Nikkei rose 1.04 percent and closed at 8,639.68 points, while Hong Kong’s Hang Seng moved up 1.3 percent to close at 19,942.95 points. The Chinese Shanghai Composite index rose 1.31 percent to end at 2,296.07 points.
European markets moved up but were ruling quiet at the time of filing this report. Investors cautiously eyed talks between Greece and its private creditors and ahead of bond auctions by Portugal and Germany. Britain’s FTSE 100 was ruling 0.18 percent up at 5,712.48 points, while the German DAX was trading 0.16 percent up at 6,364.75 points. The French CAC 40 was ruling 0.8 percent higher at 3,291.07 points.