Sensex, Nifty jumps on positive global cues

Commentary

oi-Monika

By Monika Nihalani

Published: Wednesday, December 21, 2011, 10:07 [IST]

The benchmark Sensex opened 313 points up at 15,487.75 on Wednesday and jumped as much as 2.2% or 320 points in an early trade tracking the rally in global markets. Both US and European markets posted significant gains on Tuesday, following which Asian stock markets also opened with the positive enthusiasm.

Global markets surged on the backdrop of improved economic outlook of United States and Germany.

At 9:55 am IST, the BSE Sensex was trading at 15,423.16, up by 1.63% or 248.08 points. The 50-share NSE Nifty also spurred and was seen up by 1.67% or 75.85 points at 4,620.05. This is the highest weekly gain.

The BSE Mid-cap and Small-cap was up by 1.20% and 0.93%, respectively.

On the sectoral front on the BSE, all the stocks posted gains between 0.46% - 2.25%, with Bankex, Realty, Metal and Capital Goods leading.

On the National Stock Exchange (NSE), ICICI Bank, Cairn, Hindalco, Bhel and Bharti Airtel were among the top volume gainers, all posted gains between 2.82% - 3.92%.

The stocks failed to perform well during such rally despite positive news were Hero Motocorp, Ranbaxy, Rpower, JP Associates and Sun Pharma.

Rupee also seen up against US dollar on Wednesday with the spike in equities.

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