Daily stock market review

After opening on an expected strong note, Indian market maintained its uptrend for the entire day and ended the day’s trading with smart gains. Strong signals of growth recovery in US markets and all around global support saw Indian markets rise to its highest close in about a month. Expectations of more announcement by Finance Minister to revive growth and investment in India by next week and hope of a rate cut by RBI also helped the market to surge ahead.

The 30-share BSE Sensex gained 269.69 points to end the day’s trading at 19683.23. The Sensex hit to a day's high of 19706.03 and a fell to a day's low of 19477.61. It opened at 19478.67. The broader indices, NSE Nifty gained 82.40 points, to end the day’s trading at 5945.70. The 50-share Nifty touched a day's high of 5952.85 and fell to a day's low of 5883.00. It opened at 5883.65.

Of the 50-share Nifty pack 42 stocks ended with gains while the rest 9 stocks closed with loses. The top 5 gainers among NSE stocks are: Jindal Steel surging by 5.71 %, followed by IDFC (4.13 %), HDFC (3.99 %), BPCL (3.78 %) and Kotak Mahindra Bank (3.06 %). The top 5 losers among NSE socks are: Ambuja Cement (1.42 %), Maruti (1.41 %), Infosys (1.14 %), Wipro (0.89 %) and Tata Motors (0.69 %).

Of the 30 shares of BSE index components, 25 stocks ended in positive terrain, while the rest 5 stocks closed in negative zone. The top 5 gainer in BSE Sensex stocks are: Jindal Steel surging by 5.73 %, followed by HDFC (4.04 %), GAIL (2.91 %), HDFC Bank (2447 %) and Tata Steel (2.36 %). The 5 losers of the Sensex pack were: Maruti (1.64 %), Infosys (1.15 %), Wipro (0.91 %), Tata Motors (0.72 %) and TCS (0.40 %).

Both BSE Mid Cap and Small Cap index closed with gains of 0.72 % and 0.68 % respectively, in today’s trade. All the sectoral indices of BSE closed higher except BSE IT and TECk which were the only losing sectors down by 0.69 % and 0.36 % each. BSE Oil&Gas was the top gainer which surged by 2.00%, followed by BSE FMCG up by 1.93% and BSE Metal up by 1.77%.

The market breadth stood in favor of the bulls. Of the 2976 stocks traded on the BSE, 1,734 (58.27%) rose, 1135 (38.14%) fell and 107 (3.60%) stocks remained unchanged.

Asian markets were mixed today with a positive bias. Japan’s Nikkei gained 2.64 % in today’s trade. Jakarta Composite gained 0.54 %, Hang Sang index in Hong Kong gained 1.41 %, China’s Shanghai Composite ended lower by 0.24 %, and KOSPI Index was up by 0.08 %. Markets in Taiwan were higher by 0.69 % today and Straits Times lost 0.27 %.

European markets are trading higher today. FTSE index in UK is trading higher by 0.69 %, CAC index of France is trading higher by 1.22 %, DAX index of Germany is up by 0.59 % and AEX Amsterdam is trading higher by 1.31 %. US markets are also trading higher. DOW is up by 0.26 % while NASDAQ is up by 0.16 %.