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Post-market: Market celebrates Dhanteras; Sensex ends 154 points higher
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Monday, October 24, 2011 |
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| October 24, 2011 | 5:30 PM | Market celebrates Dhanteras; Sensex ends 154 points higher The Indian markets rose after two-day losses on Dhanteras, with the Sensex closing 154 points higher and the Nifty rising by 48 points | | | | | | Major headlines | For more results....Click Here | Indian indices After showing good strength in the morning trade, the Indian markets erased more than half of its early gains in afternoon session owing to losses in banking and capital goods stocks. However, the markets remained in green and closed the auspicious day of Dhanteras on a positive note. The sentiments across the globe were buoyant after the European leaders edged toward a solid plan to resolve the euro zone debt crisis. Investors were on a buying spree, with technology, auto, oil & gas, FMCG, realty and metal stocks leading the markets higher. Infosys, Tata Motors, ONGC, RIL, TCS, ITC, Hindalco, Bajaj Auto and HUL were the positive contributors to the Sensex. Sensex movements: Global rally lifted the Sensex 225 points higher at 17011 in the opening trade and after few minutes touched the intraday high of 17105. The index posted good gains in the morning trade on all-round buying and positive global cues. In the afternoon session, the index erased half of its morning gains on pressure from capital goods and banking stocks and hit the intraday low of 16899. The Sensex closed at 16939, up by 154 points and the Nifty rose 48 points to settle at 5098. | | INDEX PERFORMANCE |  | | | | | MARKET INDICATORS |  | | | | | | | | | | | Jain Irrigation | 117.15 | -5.26 | | Oriental Bank | 281.85 | -4.76 | | | | | | | | | | | | | | | | | | | | | Market sentiment The market breadth stood in favour of declines. Of the 2926 stocks traded on the BSE, 1278 (43.68%) rose, 1528 (52.22%) fell and 120 (4.10%) remained unchanged. Viewing volumes A major Indian telecommunication company - Reliance Communications was traded the most with over 0.27 crore shares changing hands on the BSE. India's largest automobile company - Tata Motors (0.22 crore shares), Wind turbine major - Suzlon Energy (0.22 crore shares), India's second largest developer - Unitech (0.16 crore shares) and a subsidiary of Vedanta Resources Plc - Sterlite Industries (India) (0.15 crore shares). | Sectoral & stock screening Among the 13 sectoral indices, 11 closed the session in green. Major gainers - BSE IT gained by 1.91%. BSE Auto surged by 1.86% and BSE Oil & Gas went up by 1.65%. Only two losers - BSE CG fell by 1.78% and BSE Bankex lost by 0.38%. In 'A' group stocks, top winners - Tata Motors rose by 4.44%, ONGC surged by 4.09% Axis Bank up by 3.95%. Major losers - Union Bank of India fell by 11.56%, Jain Irrigation Systems down by 5.26% and Oriental Bank of Commerce slipped by 4.76%. |  | | | | | Global signals The European stock markets rose on Monday (October 24, 2011), on optimism that policymakers were closer to an agreement on measures to tackle the euro zone sovereign debt crisis, and with miners lifted by strong manufacturing data in China. The Asian stock markets closed higher on Monday on signs of progress on a plan to contain the euro zone's sovereign debt crisis. The US Stock index futures pointed to a higher open for equities on the Wall Street on Monday. | | | | 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. 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