Sensex surges past 21,000 points; investors eye inflation data

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Sensex surges past 21,000 points; investors eye inflation data
Markets opened the day higher on the back of strong cues from Asia. The Sensex was trading higher after markets across Asia rallied on lower than expected US non farm payrolls data, which raises expectation that the Federal Reserve would not taper QE3 ahead of its policy meet later this month. To read more on QE3 click here

Top gainers from the Nifty were Infosys which rallied another 2.53 per cent, as several brokerages upgraded the stock. The other notable gainer in trade was Reliance which gained after the government notified higher gas prices. The stock was up 1.92 per cent in trade.

Top Nifty losers in trade were Ranbaxy labs, Ultratech Cement and Hero Motor Corporation. Banking stocks were having a good session in trade ahead of the CPI inflation data. Banking stocks that gained in trade were Yes Bank, Union Bank and Bank of Baroda.

The stock of Larsen and Toubro was up despite weak IIP data. Exide Industries was trading marginally flat ahead of its results to be declared later today.

Mid cap stocks were having a good day in trade with notable gainers being Syndicate Bank, Karnataka Bank and HDIL.

However, Crompton graves and Voltas were trading lower as sentiments remained affected after weak IIP data. Jubilant Foodworks drifted lower after the scrip was removed from one of the MSCI indices.

Meanwhile, markets across Asia were trading higher as weak non farm US payroll data signalled buying across Asian markets, particularly emerging Asian markets. The Jakarta Composite was the top gainer with more than 2.24 per cent gains.

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