With confidence in Europe, Sensex gains 2.95%

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With confidence in Europe, Sensex gains 2.95%
As investors became more confident that there could be bailout plan for Europe, the bears found themselves on the wrong side as stock markets gained.

The BSE Sensex closed at 16524 levels, 472 points higher with gains of 2.95%. Meanwhile, NSE Nifty gained 2.81% or 135.85 points higher.

Its European counter part like France's CAC, Germany's DAX and Britain's FTSE rallied 2-3%. The Dow Jones and Nasdaq futures moved up 1% each. Asian markets gained 3-5% at close; only Shanghai rose 0.9%.

Top gainers like DLF, Tata Motors, Reliance Industries, Jaiprakash Associates, Infosys, BHEL and TCS saw their share price increase by 4-6%.

All the sectors were in the positive territory. The BSE Realty and IT indices shot up 3.6% each. Bank, Oil & Gas, Power, Auto, Metal and Capital Goods were up 2-3%.

Most active shares on exchanges were PG Electroplast, Reliance Capital, SBI, Godrej Properties, Reliance Industries and Infosys.

Among midcaps, Hathway Cable shot up 17.5%. Rajesh Exports, Hexaware Tech, Sun Pharma Advanced and Sujana Towers were up 7-10%.

However, Shree Global crashed 10%. Pipavav, Jyothy Labs, Ipca Labs and Manappuram Finance were down 2-4%.

4:10 p.m.

European market also opened positive. Sensex 464 points up

Following on the footsteps of global peers, the benchmark index in India has kept its uptrend. On positive sentiments, BSE Sensex was up by 464.35 or 2.89% at 16,515. At the same time, NSE Nifty reached 4975.15 as it was up by 139.75 points or 2.89%.

The best perfoming index now was Realty followed by IT with 3.67% and 3.65% respectively. The worst performing was Health Care as it was up only 0.08%.

Heavyweights Reliance Industries and ICICI Bank shot up more than 4%. Technology stocks like TCS and Infosys rallied 3.5% each; Wipro rose 3%.

Tata Motors was the biggest gainer on Nifty - surged 6%. DLF, Jaiprakash Associates, moved up between 5-5.8%. hidnalco and Bhel were up by 4.74% and 4.72%.

However, only Cipla was trading in the red tick.

European markets also opened on a psotive note, France's CAC was up 2.7% and Germany's DAX surged by 3%. Britain's FTSE also gained 2%.

2:10 p.m.

Sensex up by 349 points on positive global cues

The stock markets kept up with their uptrend. BSE Sensex was up by 349 points or 2.17% at 16,400 points. Meanwhile NSE Nifty was at 4,937 points level up by 101.95 points or 2.11%.

Among the sectoral indices, Consumer Durables was the best performing index with gains of 2.93%. Meanwhile the worst performing sectoral index was HealthCare as it gained by only 0.63%.

Tata Motors was the best performing index with 5.38% change and JP Associate, DLF and hindalco was up between 4%-4.98%

The only stock among the Nifty was Cipla that had reduced by 0.03%.

JP Associates was the most active stock on the NSE.

Reliance Capital went up by 5% as Anil Ambani made announcements that he would consider bonus issue & special dividend for company to unlock value.

12:15 p.m.

Markets hopeful of European bailout. Sensex up by 271 points

Indian stock markets have rebound from their lows following the recovery in global stock market. There was hope among the investors that European Financial Stability Fund will be finalized. With everyone trying to cover there short positions, all sectoral indices were in the green. The broader indices were following the same trend.

The NSE benchmark, Nifty was up by 81.70 points or 1.69% to 4,917 level. Meanwhile, BSE benchmark, Sensex was trading at the 16,322.91 points representing an increase of 271.81 or 1.69.

Among the Nifty stocks, Tata Motors, JP Associates, Cairn and DLF were up by 3.1-3.8%. Only three stocks were in the red, namely, ACC, Sesa Goa and Ambuja Cement by 0.54%, 0.23% and 0.14% respectively.

The CNX Midcap rose 95 points to 7,167 and the BSE Smallcap Index was up 32 points at 6,955. About six shares gained for every share falling.

Kingfisher Airlines increased by 4%. Dish TV and Hathway Cable went up by 1.5-2%. In the meantime, Pipavav Shipyard nose dived by 4% as Defence Ministry puts Pipavav Defence-Mazagon Dockyard JV on hold.

Asian markets were trading higher. Kospi, Taiwan and Jakarta Composite rallied 3.5-4%. Hang Seng, Nikkei and Straits Times gained 1.5-2.5%. Shanghai rose just 0.4%.

10:15 a.m.

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Read more about: bse, sensex, nse, nifty, capital market
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