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Sensex closes above 21,000 points on strong global cues

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Sensex closes above 21,000 points on strong global cues
The Sensex and the Nifty rallied in trade today, as weaker than expected US jobs data, pushed the indices higher. The Nifty closed the day higher by 101 points.

 

Among the top gainers in trade once again were the technology stocks with TCS, Infosys, HCL tech and Wipro hitting 52-week highs.

Private sector banking stocks rallied in line with the broader markets with prominent gainers being ICICI Bank and IndusInd Bank. However, PSU banking stocks lost ground ahead of inflation data with Canara Bank and Union Bank of India among the top losers in trade.

Reliance Industries rallied in trade today after the government notified gas pricing. Heavyweight, Larsen and Toubro was the other stock that was among the top Nifty gainers today.

Stocks from the Nifty that lost ground in trade today were Tata Power company, Jaiprakash Associates, Sun Pharmaceutical Industries, Maruti Suzuki and GAIL.

Mid cap stocks did not have a good day in trade with stocks like Voltas and Crompton Greaves falling after IIP data disappointed.

IndusInd Bank which had fallen following a set of disappointing results ended the day higher by 1 per cent.

ONGC also rallied in trade today after the government notified the price of gas. Realty stocks took a hit in trade today with Unitech and Sobha Developers among the losers.

Meanwhile, markets across Asia staged a smart rally after poor US non farm payroll data signalled that the Fed would slow its QE3 programme. Markets from Asia that gained ground included the Jakarta Composite, which rallied 3 per cent and the Seoul Composite which gained 0.50 per cent.

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