Short coverings ahead of Futures and Options (F&O) expiry tomorrow, pushed up Indian stock market to register its biggest single day gain since 169 point rise of the BSE Sensex on November 30. Another factor that pushed the Indian indices up was the uptrend witnessed in all major Asian stock markets. The market today opened on a positive note, maintained itself in green zone throughout the day’s trading and ended up in positive territory as well.
Traders rushed to cover positions on the eve of the December contracts expiry, which saw the BSE Sensex close at 19417.46, rising 162.37 points or 0.84 per cent. It had earlier touched a day's high of 19468 and a day's low of 19274 points. It opened at 19302. The NSE Nifty firmed up by 49.85 points or 0.85 per cent to 5905.60. It earlier touched a day’s high of 5917 and a day’s low of 5859. It opened at 5864.
Reports like, cabinet has approved selling 12.5% stake in Rashtriya Chemicals & Fertilizers Ltd., as a part of RBI’s liquidity measure central bank would continue to inject liquidity in the bond market and India to extend subsidy for some exports until March 2014 also lifted the market sentiment. These measures by the Government of India shows, the commitment of the government for economic reforms.
Broader sentiment was also underpinned by strong recent buying by foreign institutional investors, FII, who bought a net $719 million in domestic stocks on Dec. 24, the biggest single-day inflow since Oct. 5, bringing their total for the year to $24.05 billion.
Throughout Asian markets, there was a sense of optimism surrounding US fiscal-cliff issue after US President Obama cut short his Christmas holidays to arrive at a quick resolution over it. Japan's Nikkei 225 index gained 0.4% to 10122.82. South Korea's Kospi added 0.8% to 1996.49. Stocks in mainland China, Singapore, Taiwan, Indonesia and the Philippines also posted smart gains.
All the 13 BSE sectoral indices closed in the green zone except BSE IT which closed 0.17% lower. Top gainers are, BSE CG (Capital Goods) up by 1.68%, BSE Bankex rose by 1.36% and BSE Realty surged by 1.22%. The BSE Midcap index gained 0.66-%, while the BSE Small cap index rose 0.36% today.
The market breadth stood in favor of advances. Of the 3066 stocks traded on the BSE, 1523 (49.67%) rose, 1416 (46.18%) fell and 127 (4.14%) stocks remained unchanged.
Share prices of RIL, ONGC, HDFC Bank, ICICI Bank, M&M, Hindalco, SBI, NTPC, Bharti Airtel, Sun Pharma, BHEL, Tata Steel, Bajaj Auto, HDFC Bank and L&T were among the gainers in Sensex and Nifty. While shares of TCS, Infosys, Wipro, Hero MotoCorp, Maruti Suzuki, Tata Motors, Dr Reddy’s Lab, HUL HDFC Bank and L&T were among losers in Sensex and Nifty.
Traders rushed to cover positions on the eve of the December contracts expiry, which saw the BSE Sensex close at 19417.46, rising 162.37 points or 0.84 per cent. It had earlier touched a day's high of 19468 and a day's low of 19274 points. It opened at 19302. The NSE Nifty firmed up by 49.85 points or 0.85 per cent to 5905.60. It earlier touched a day’s high of 5917 and a day’s low of 5859. It opened at 5864.
Reports like, cabinet has approved selling 12.5% stake in Rashtriya Chemicals & Fertilizers Ltd., as a part of RBI’s liquidity measure central bank would continue to inject liquidity in the bond market and India to extend subsidy for some exports until March 2014 also lifted the market sentiment. These measures by the Government of India shows, the commitment of the government for economic reforms.
Broader sentiment was also underpinned by strong recent buying by foreign institutional investors, FII, who bought a net $719 million in domestic stocks on Dec. 24, the biggest single-day inflow since Oct. 5, bringing their total for the year to $24.05 billion.
Throughout Asian markets, there was a sense of optimism surrounding US fiscal-cliff issue after US President Obama cut short his Christmas holidays to arrive at a quick resolution over it. Japan's Nikkei 225 index gained 0.4% to 10122.82. South Korea's Kospi added 0.8% to 1996.49. Stocks in mainland China, Singapore, Taiwan, Indonesia and the Philippines also posted smart gains.
All the 13 BSE sectoral indices closed in the green zone except BSE IT which closed 0.17% lower. Top gainers are, BSE CG (Capital Goods) up by 1.68%, BSE Bankex rose by 1.36% and BSE Realty surged by 1.22%. The BSE Midcap index gained 0.66-%, while the BSE Small cap index rose 0.36% today.
The market breadth stood in favor of advances. Of the 3066 stocks traded on the BSE, 1523 (49.67%) rose, 1416 (46.18%) fell and 127 (4.14%) stocks remained unchanged.
Share prices of RIL, ONGC, HDFC Bank, ICICI Bank, M&M, Hindalco, SBI, NTPC, Bharti Airtel, Sun Pharma, BHEL, Tata Steel, Bajaj Auto, HDFC Bank and L&T were among the gainers in Sensex and Nifty. While shares of TCS, Infosys, Wipro, Hero MotoCorp, Maruti Suzuki, Tata Motors, Dr Reddy’s Lab, HUL HDFC Bank and L&T were among losers in Sensex and Nifty.
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