Post Session- Sensex ends up 192 points amid robust global cues Analysis for Jan 19, 2012

Today, the domestic benchmarks closed on a robust note as the Nifty surpassed the psychological 5,000 mark amid positive cues from global markets. The Realty and Metal space led the rally.

BSE SENSEX closed at 16643.74 up by 192.27 points or by 1.17 % and then NSE Nifty ended at 5018.4 up by 62.6 points or by 1.26 %.The BSE MIDCAP closed at 5669.99 up by 80.1 points or by 1.43 %, while the BSE SMLCAP ended at 6272.23 up by 76.53 points or by 1.24 %.The BSE Sensex touched intraday high of 16662.06 and intraday low of 16572.1 The NSE Nifty touched intraday high of 5023.8 and intraday low of 4991.4.

The strong finish of the US markets on Wednesday boosted domestic sentiment during morning trade. On Wednesday, the Dow Jones Industrial gained 96.88 points and closed at 12578.95. The S&P 500 gained 14.37 points and closed at 1308.04 and the Nasdaq closed at 2769.71, gaining 41.63 points over the previous day's closing. Soon after witnessing a gap up opening, the domestic benchmarks surged to the day's high amid strong cues from the Asian markets. Asian markets traded higher on Thursday after the IMF said that it plans to boost its lending capacity by USD 500 billion to support the global economic recovery.Morover, reports that Chinese policymakers are considering a plan to ease capital requirements for the nation's lenders to spur credit growth, also boosted sentiment. Moreover, a rebound in industrial output in the US in December 2011 also raised optimism that economic recovery in the world's largest economy is gaining momentum. US industrial output rose by 0.4 per cent in December 2011, month on month, the sharpest increase in a year. Better than expected earning numbers from global banking giant Goldman Sachs also lifted sentiment. On the domestic front, easing inflationary pressures raised hopes of a near-term rate cut, while strong quarterly earnings results also lifted sentiment. The benchmarks pared of some of their gains before trading range-bound in the positive terrain during afternoon trade. The benchmarks continued to trade on a strong note and extended their gains in the final couple of hours of the session amid strong opening in the European markets. Finally, the domestic benchmarks ended on a positive note, with the BSE Sensex and the NSE Nifty notching up gains of over 1.10% each. Among the BSE Sectoral indices, BSE Realty and BSE Metal ended up 3.54% and 2.81% respectively.

Among the 30 Sensex stocks, Sterlite Industries, Tata Power, Hindalco Industries, DLF and NTPC closed up 6.77%, 6.08%, 5.06%, 4.62% and 4.19% respectively. Among the Sensex stocks, there were 23 advances and 7 declines. On BSE out of total shares traded 2978, shares advanced were 1840 while 1011 shares declined and 127 were unchanged.

On the Economic front, food inflation remained in the negative terrain for a third straight week as prices of vegetables including onions and potatoes fell. Food inflation stood at -0.42 per cent for the week ended January 7,2011.

On the Global front, the Australian economy shed 29,300 jobs in December 2011, while the jobless rate stood at 5.2 per cent as business confidence weakened amid a worsening global outlook and financial market strains, said a report by the Australian Bureau of Statistics on Thursday.

On the Asian front, Shanghai Composite ended up 1.31%, Hang Seng closed higher by 1.3% and Nikkei 225 closed higher by 1.04% on Thursday.

On the European front, CAC 40 was up 0.77%, DAX was up 0.11% and FTSE100 was trading higher by 0.17% on Thursday.

On the Corporate front, private sector lender HDFC Bank posted a 31.2 per cent increase in third quarter, 2011 net profit at Rs 1,429 crore, compared to the year ago period. The stock ended up 0.98% at Rs 485 on the BSE.

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